Summary of Federal Project Grant Award

Building Hope Finance received a $20 million Project Grant from the U.S. Department of Education's Office of Elementary and Secondary Education under the Credit Enhancement for Charter School Facilities program (CFDA 84.354), effective October 1, 2026 through September 30, 2051. The award funds the Building Hope Catalytic Capital Program, which will establish and maintain reserve accounts to enhance credit availability for charter schools pursuing facility acquisition, construction, and renovation projects. These reserve accounts serve as guarantees and insurance mechanisms for debt and lease financing, reducing lender risk and enabling charter schools to access capital at lower interest rates and reduced borrowing costs.

The grantee will deploy the federal funds to support charter school facility development by guaranteeing and insuring loans, bonds, and personal/real property leases across a 25-year performance period. As a competitive grant under this program, Building Hope Finance is expected to maintain financial records in accordance with generally accepted accounting principles, subject to annual independent audit, with records retention requirements extending three years beyond the grant completion date. This award represents one of the largest recent allocations under the program, consistent with the typical $8 million to $20 million award range for this competitive grant initiative.