Project Acceleration Notes and Credit Enhancement Alternatives (PANACEA)

Project Acceleration Notes and Credit Enhancement Alternatives Overview

The federally-funded Project Acceleration Notes and Credit Enhancement Alternatives (PANACEA) Program was created from an $8 million grant awarded through the federal “Expanding Quality Charter Schools Program – Grants for Credit Enhancement for Charter School Facilities” (CFDA #84.354A) grant competition in September 2017. This program enhances financing to charter schools to accelerate the development of permanent charter school facilities. Through the same federal grant program, in June 2019, the Authority applied for, and in August 2019 was awarded, a $20 million grant for the Charter Access to Bank Loan Enhancement (Charter ABLE) Program.

Proposed Permanent Regulation Change for Project Acceleration Notes and Credit Enhancement Alternatives (PANACEA) Program

45-Day Public Comment Period (November 26, 2021 – January 10, 2022)

The 45-day written public comment period opened November 26, 2021 and closed January 10, 2022. No public meeting was scheduled nor was a hearing requested by any member of the public.

Next Steps

CSFA will be reviewing all public comments received and will be preparing a Final Statement of Reasons. Please watch this space for update. Interested parties who have signed up with the Authority ListServ will also be notified when the Final Statement of Reasons is filed.

PANACEA Regulations and Forms

• Program Regulations
• PANACEA Application – Form CSFA 07-01
• Good Standing Letter – Form CSFA 07-03
• Legal Status Questionnaire – Form CSFA 07-04

For more information, please contact the CSFA Executive Director: Katrina Johantgen at (213) 620-4608 or Program Analyst: Ryan Storey at (213) 620-6360.