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Description of Funding
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There is a per-pupil facilities aid program in D.C. The amount is based on a five year moving average of capital funds available to the school system. For Fiscal Year 2007, the allowance as calculated at $2,810 per pupil; The City Build Charter School Initiative promotes community revitalization with a particular emphasis on strengthening public charter schools. Most of the grants from this program have been allocated for facilities and expansion projects. The Fiscal Year 2007 District of Columbia Appropriations Act includes $3.5 million for the program; The Public Charter School Credit Enhancement Fund provides credit enhancement for the purchase, construction, and/or renovation of facilities for charter schools. The program offers guarantees or collateral pledges of up to $1 million for two to five years; The District of Columbia’s Direct Loan Fund for Charter School Improvement provides flexible loan capital for the construction, purchase, renovation and maintenance of charter school facilities. Loans are capped at $2 million per school. $6 million in federal appropriations was earmarked for this initiative for Fiscal Year 2007.
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