Project Acceleration Notes and Credit Enhancement Alternatives

State Treasurer's Office

Designed to help provide credit enhancement to facilitate the financing of the purchase, construction, and/or renovation of facilities for California public Charter Schools. Funds awarded under the Program will be used in conjunction with funding provided through the Charter School Facilitiesโ€ฆ

Jargon-free version

Helps California charter schools get short-term loans for buying or renovating their facilities. This program works alongside other funding sources to support these projects.

Quick Facts

Funding
Up to $1,000,000
Deadline
See website
Status
Accepting Applications
Category
Housing & Community Development
Organization
State Treasurer's Office

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What Is This Program?

Designed to help provide credit enhancement to facilitate the financing of the purchase, construction, and/or renovation of facilities for California public Charter Schools. Funds awarded under the Program will be used in conjunction with funding provided through the Charter School Facilities Program (CSFP) or the Authorityโ€™s Conduit Financing Program (Non-CSFP). The Project Acceleration Notes and Credit Enhancement Alternatives (PANACEA) Program supports short-term interim financing to charter schools that have received a reservation of funds through the Charter School Facilities Program or are awaiting the issuance of long-term debt through the Authorityโ€™s Conduit Bond and Note Financing Program.

What Benefits Are Offered?

grantloancredit enhancement

Provides federal grant-funded credit enhancement and short-term interim financing to facilitate the purchase, construction, and/or renovation of facilities for California public Charter Schools. Funds are advanced and held in trust.

Who Is Eligible?

Industries: education

Region: California

Other Criteria: Nonprofit Public Agency, California public Charter Schools, must have received a reservation of funds through the Charter School Facilities Program (CSFP) or are awaiting the issuance of long-term debt through the Authorityโ€™s Conduit Bond and Note Financing Program, Letter of Intent Required

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๐Ÿ† Detailed Application Guide

๐Ÿ“‹What Are the Application Steps & Timeline?

๐Ÿ“Steps to Apply
  • Read the full grant guidelines before applying.
  • Prepare necessary documentation including Proof of Authority.
  • Submit the application through the online portal.
๐ŸŒApplication Portal
https://www.grants.ca.gov/grants/project-acceleration-notes-and-credit-enhancement-alternatives/
๐Ÿ“คSubmission Method
online
๐Ÿ“…Key Dates
OngoingExpected award announcement
Term of the LoanPeriod of performance
๐Ÿ”„Intake Type
rolling

๐Ÿ“„What Documents Are Required?

โœ…Required Documents
  • SF-424 (Application for Federal Assistance)
  • SF-424A (Budget Information - Non-Construction)
  • SF-424B (Assurances)
  • Project Narrative
  • Budget Narrative
  • indirect cost rate agreement
  • Proof of Authority by the governing body
๐Ÿ“Format Requirements
PDF only, max 10MB
โœ‰๏ธSupporting Letters
Proof of Authority by the governing body is required.

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๐Ÿ’ฐWhat Expenses Are Eligible?

๐ŸงพEligible Expenses
  • purchase of facilities
  • construction of facilities
  • renovation of facilities
๐Ÿ’ณPayment Model
advance

๐ŸคIs Matching Funding Required?

๐Ÿ”€Matching Required
No
๐Ÿ“šStacking Rules
Funds awarded under the Program will be used in conjunction with funding provided through the Charter School Facilities Program or the Authorityโ€™s Conduit Financing Program.

๐Ÿ“ŠWhat Are the Reporting Requirements?

๐Ÿ”Audit Requirements
OMB Uniform Guidance Single Audit if the recipient expends $750,000 or more in federal awards in a fiscal year

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FAQFrequently Asked Questions

Visit the program page for detailed eligibility requirements.

This program offers funding up to $1,000,000.

Check the official program website for current deadlines.

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