Charter School Construction Projects Given $46.2 million

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December 15, 2011 On Wednesday, the State Allocation Board apportioned proceeds from the recent bond sale to school facility program construction projects. The Board allocated almost $1 billion to 377 schools. Last September the Board unanimously voted to reserve $90.2 million from future bond sales for site and design money for charter projects. Through this bond sale, charters were apportioned $46.2 million which will cover the site and design funding needs of approximately half of the charter schools who are participating in the School Facility Program. Although this was short of the more than $90 million that the Board had promised to charters in the past, during yesterday's meeting board members expressed concern over living up to that promise and directed the Office of Public School Construction to look at other sources of funding that may be available to fund the remaining $44 million.