Charter School Facilities Program (CSFP)
Designed to provide low-cost financing for charter schools for the construction or rehabilitation of facilities.
For additional information on CSFP and updates regarding the Prop 51 Funding Round, please visit the Office of Public School Construction’s CSFP Web page . If you have any questions please contact Katrina Johantgen (CSFA) at (213) 620-2305, or Erin Cunneen (OPSC) at (916) 375-4741.
Charter School Facilities Program Overview
The Charter School Facilities Program (CSFP) provides fixed rate, long-term debt to schools at underwriting terms that are set by the state – not the capital markets.
Charter School Facilities Program: The Charter School Facilities Program (CSFP) was enacted in 2002 by Assembly Bill 14, amended by Senate Bill 15 and Assembly Bill 16, and funded through Proposition 47 ($100 million), Proposition 55 ($300 million), Proposition 1D ($500 million), and Proposition 51 ($500 million) for the purposes of constructing, acquiring, or renovating new facilities for site-based charter school students throughout California. The CSFP allows charter schools to access state facility funding for new construction directly or through the school district where the charter school is physically located. The program funds 50 percent of project costs as a grant (paid by the State), while the charter school, in the form of a long-term lease or a lump sum payment, repays the other 50 percent. The Program is jointly administered by Office of Public School Construction (OPSC) staff, and for its part, the OPSC makes recommendations to the State Allocation Board (SAB) regarding which Program applicants receive preliminary apportionments (a reservation of program funds) based on criteria outlined in statute and in SAB program regulations. Among other things, the Authority is responsible for: 1) making a financial soundness determination for all Program applicants at the time of preliminary, advance and final apportionment; 2) conducting on-going monitoring and due diligence of recipients’ financial soundness before and after final apportionment; 3) carrying out due diligence on guarantors or related organizations, when applicable; 4) developing, negotiating, and maintaining Program agreements on behalf of the State; and 5) integrating Program funding into the Authority’s existing financing programs.
For more information, please contact the Program Lead: Michael Pack at (916) 653-2779.