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 Facilities…
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
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What Is This Program?
What Benefits Are Offered?
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 Authority’s Conduit Bond and Note Financing Program, Letter of Intent Required
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📋What Are the Application Steps & Timeline?
- 📝Steps to Apply
- Read the full grant guidelines before applying.
- Prepare necessary documentation including Proof of Authority.
- Submit the application through the online portal.
- 🌐Application Portal
- https://www.grants.ca.gov/grants/project-acceleration-notes-and-credit-enhancement-alternatives/
- 📤Submission Method
- online
- 📅Key Dates
- OngoingExpected award announcementTerm of the LoanPeriod of performance
- 🔄Intake Type
- rolling
📄What Documents Are Required?
- ✅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
- 📐Format Requirements
- PDF only, max 10MB
- ✉️Supporting Letters
- Proof of Authority by the governing body is required.
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💰What Expenses Are Eligible?
- 🧾Eligible Expenses
- purchase of facilities
- construction of facilities
- renovation of facilities
- 💳Payment Model
- advance
🤝Is Matching Funding Required?
- 🔀Matching Required
- No
- 📚Stacking Rules
- Funds awarded under the Program will be used in conjunction with funding provided through the Charter School Facilities Program or the Authority’s Conduit Financing Program.
📊What Are the Reporting Requirements?
- 🔍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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