Project Acceleration Notes and Credit Enhancement Alternatives

Who can apply

NonprofitPublic Agency

Please refer to the Program Regulations, Section 10200.2 "Applicant Eligibility Criteria", and Section 10200.4 "Application Review and Evaluation Criteria"

Where: California Only

Purpose

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 Authority’s Conduit Financing Program (Non-CSFP).

Description

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 Authority’s Conduit Bond and Note Financing Program.

Important dates

Opened

Jul 1, 2017

Application deadline

Ongoing

Expected award announcement

Ongoing

Period of performance

Term of the Loan

Funding details

Total estimated available

$8,000,000.00

Estimated amount per award

Between $0.00 and $1,000,000.00

Expected number of awards

Dependant on number of submissions received, application process, etc.

Letter of intent required

No

Matching funds

Not Required

Funding source

Federal

Funding source notes

Federal Grant – US Department of Education. (CFDA #84.354A)

Funding method

Advance(s)

Funding method notes

The grant award shall be held in trust by the Authority or an Authority approved financial institution, solely for authorized purposes and shall not be released to Awardees without the Authority’s or trustee’s approval. Awards of a reservation of funds will expire if the Awardee does not use the awarded funds by closing the financing within six months of Authority approval. Exceptions may be granted by the Authority.

How to apply

Read the full guidelines on the grantor's site, then apply there. Nothing is submitted through this site.

• Grant guidelines & application ↗
• State Treasurer's Office ↗
• Grantor's own update list ↗
• Original listing on grants.ca.gov ↗

Questions about this grant: email: [email protected]; tel: 1-213-620-4608;