CSFA

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border-radius:5px;" src="/images/icon-library/loudspeaker_white.png" width="32" height="32" alt="Sign Up to Get CSFA Information" title="Sign Up to Get CSFA Information"></a> <a href="/csfa/contacts.asp"><img src="/images/contact.jpg" width="32" height="32" alt="Contact Us!" title="Contact Us!"/></a> </p> </div> </div> <div class="content_right_column2"> <h1 class="csfaHeading">About the California School Finance Authority (CSFA)</h1> <p>The California School Finance Authority (CSFA) was created in 1985 to finance educational facilities and working capital on behalf of school districts and community college districts. Since its inception, the Authority has developed a number of financing programs primarily focused on assisting non-profit borrowers, school districts and community colleges with meeting their facility and working capital needs. CSFA programs include: <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Ffinancings%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=k%2FXN%2FTuChQxjGRKPjyp7sTKWFhuBEfq8qGXwbFg7Qxc%3D&reserved=0">Bond, Loan and Note Financing</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fcharter.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=XDwkyc%2BuAmTjF3h2kPw3t9nOP6bMnirsVyazgS3XnmE%3D&reserved=0">Charter School Facilities Program</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fcsfgp%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=R7lUV9s2epNLsm5%2F2o%2BgRvVNm3iYCYkatRJ62dXJ4yk%3D&reserved=0">Charter School Facility Grant Program (Senate Bill 740 Program)</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fenhancement%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=c8OjWGxTO0y%2FYGJmThGttY0y56b6qHv4ZbjdWIFqFEQ%3D&reserved=0">Charter School Facilities Credit Enhancement Grant Program</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fcsrlf%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=vatkAl36%2BAMpRWv%2F8NMZ%2BkKuoip%2FZ6vUPQIBPoqtYmw%3D&reserved=0">Charter School Revolving Loan Fund Program</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fqpefb%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=uUMM4DGct4Z%2BuC5Dt5VG%2BprAPVk4ZWDXJPtT54aef2o%3D&reserved=0">Qualified Public Educational Facility Bond Program</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fcsblp%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=f6Cw9ocDgISBS1%2BDBr2P%2BLq07d2GwgROB3FtgCdTDM4%3D&reserved=0">Charter School Bank Loan Program</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fpanacea%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=ludvZiGzMAp0fWTD2IiFFqEZrMuXLaLJW4pCjdSrJ1k%3D&reserved=0">Project Acceleration Notes and Credit Enhancement Alternatives</a>, <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Fcharter%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=opzmTW%2FlrFxiaUzgXe6BAdUaTyU5N6d5tagDDDmqdu0%3D&reserved=0">Charter Access Bank Loan Enhancement Program (Charter ABLE)</a> and the <a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.treasurer.ca.gov%2Fcsfa%2Ffine%2Findex.asp&data=05%7C01%7CWebAdmin%40treasurer.ca.gov%7Cd10d020c39c848d41fbd08dbe5ed6f8b%7C3bee5c8a6cb44c10a77bcd2eaeb7534e%7C1%7C0%7C638356580159641753%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=10LsOQvzVu05XTgy0pQH%2BmkmTWug%2BSjR3lXhV3ajNdE%3D&reserved=0">Charter FinE Enhancement (Charter FinE) Program</a> and the <a href="/csfa/financings/revolving.asp">California Student Housing Revolving Loan Fund (CaSHRLF)</a>, <a href="incentive.asp">State Charter School Facilities Incentive Grants Program</a>. A history of CSFA Programs may be viewed below. </p> <p>The Authority is chaired by State Treasurer Fiona Ma, CPA, and the Superintendent of Public Instruction and the Director of Finance serve as members. The Authority has offices in Los Angeles and Sacramento. </p><br>  <div class="buttons"> <p><a href="financings/index.asp"><img src="/images/content/buttons/csfa/bond.jpg" width="165" height="145" alt="Conduit Financing" /></a> <a href="charter.asp"><img src="/images/content/buttons/csfa/charter.jpg" width="165" height="145" alt="Charter School Facilities Program" /></a> <a href="csfgp/index.asp"><img src="/images/content/buttons/csfa/csfgp.jpg" width="165" height="145" alt="Charter School Facility Grant Program (Senate Bill 740 Program)" /></a> <a href="enhancement/index.asp"><img src="/images/content/buttons/csfa/enhancement.jpg" width="165" height="145" alt="Charter School Facilities Credit Enhancement Grant Program" /></a> <a href="csrlf/index.asp"><img src="/images/content/buttons/csfa/csrlf.jpg" width="165" height="145" alt="Charter School Revolving Loan Fund" /></a> <a href="qpefb/index.asp"><img src="/images/content/buttons/csfa/qpefbp.jpg" width="165" height="145" alt="Qualified Public Educational Facility Bond Program" /></a> <a href="csblp/index.asp"><img src="/images/content/buttons/csfa/csblp.jpg" width="165" height="145" alt="Small School District Loan Program" /></a> <a href="panacea/index.asp"><img src="/images/content/buttons/csfa/panacea.jpg" width="165" height="145" alt="Project Acceleration Notes and Credit Enhancement Alternatives" /></a> <a href="k-14-trans/index.asp"><img src="/images/content/buttons/csfa/tran.jpg" width="165" height="145" alt="K-12 and Community College District Tax and Revenue Anticipation Note (TRAN) Program" /></a> <a href="charter-trans/index.asp"><img src="/images/content/buttons/csfa/tran-charter.jpg" width="165" height="145" alt="CSFA’s Charter School Pooled TRANs (ASAP Program)" /></a> <a href="/csfa/financings/revolving.asp"><img src="/images/content/buttons/csfa/SAWH.jpg" width="165" height="145" alt="CSFA’s Student and Workforce Housing" /></a> <a href="incentive.asp"><img src="/images/content/buttons/csfa/incentive.jpg" width="165" height="145" alt="State Charter School Facilities Incentive Grants Program" /></a> </p> </div>  <hr class="rule1"><br> <h2 style="font-size:1.5rem;">CSFA Milestones</h2>  <div id="timeline">  <div class="timelineContents"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>1985 </h2> <div class="timelineButtonLeft"> <img src="/images/content/buttons/csfa/csfaLogo.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="1985"><strong>California School Finance Authority Act AB 964 (Farr [D-San Francisco]), Ch. 28 </strong></span> is signed into law and created the <strong>Authority</strong> to aid school districts and community colleges in the sale of revenue bonds to build or remodel school facilities and provide working capital.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>1992 </h2> <div class="timelineButtonRight timelineButton9"> <img src="/images/content/buttons/csfa/scales.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="1992"><strong>California Charter School Act SB 1448 (Hart [D-Santa Barbara]), Ch. 781/1992</strong></span> is signed into law to “provide opportunities to teachers, parents, pupils, and community members to establish and maintain schools that operate independently from the existing school district structure, as a method to” improve pupil learning, increase learning opportunities for all pupils, create new professional opportunities for teachers, provide parents and pupils with expanded choices in the types of educational opportunities available within the public school system, hold the schools established accountable for meeting measurable pupil outcomes, and provide vigorous competition within the public school system.</p> </div> </div><div style="clear:both;"></div>  <div class="timelineContents" style="margin-top:-1.75rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>1993 </h2> <div class="timelineButtonLeft timelineButton10"> <img src="/images/content/buttons/csfa/chalkBoard.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left">The first charter school in the state, San Carlos Charter Learning Center, San Mateo County, opens as <span id="1993"><strong>AB 19 (Quackenbush [R-Santa Clara]), Ch. 160/1993 and AB 1114 (Alpert [D-San Diego]), Ch. 161/1993</strong></span> are enacted. AB 19 establishes a voluntary system of inter-district (between school districts) school choice. AB 1114 requires school districts, as a condition of receiving state apportionment funding, to establish a system of intra-districts (among schools within a school district).</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-2.15rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2000 </h2> <div class="timelineButtonRight timelineButton9"> <img src="/images/content/buttons/csfa/scales.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="2000"><strong>Proposition 39, School Facilities Local Vote Act of 2000 </strong></span> (initiated constitutional amendment), sponsored by <strong>Governors Wilson and Davis</strong>, is approved, including provisions requiring school districts to share their facilities with charter schools so that charter school students have access to facilities “reasonably equivalent” to those available to other public school students. <strong>AB 1908, (Lempert [D-San Mateo]), Ch. 44/2000 </strong>was the legislation that outlines the process, authorization, and issuance of bonds by a 55% vote of the electorate, at a primary or general election.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2002 </h2> <div class="timelineButtonLeft timelineButton2"> <img src="/images/content/buttons/csfa/csfProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="2002"><strong>AB 14 (Goldberg [D-Los Angeles]), Ch. 935/2001</strong></span> passes, establishing the <strong>Charter Schools Facilities Program</strong> to provide funding to qualifying entities for the purpose of establishing school facilities for charter school pupils.</p> <p style="padding-right:1.5rem;"><strong>Proposition 47, Kindergarten-University Public Education Facilities Bond Act of 2002, AB 16 (Alpert [D-San Diego]), Ch. 33/2002</strong>, passes issuing <strong>$13.05 billion</strong> in <strong>GO bonds</strong> for K-12 school construction; and <strong>$100 million</strong> allocated to the <strong>Charter Schools Facilities Program</strong>, a pilot program modeled after the state’s <strong>School Facilities Program</strong> for charter school facilities.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-.75rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2004 </h2> <div class="timelineButtonRight timelineButton3"> <img src="/images/content/buttons/csfa/csfigProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="2004"><strong>The State Charter Schools Facilities Incentive Grants Program</strong></span> is created with <strong>$49.25 million</strong> in grant awards from the <strong>U.S. Department of Education</strong> (CFDA #84.282D). The program is designed to assist high-performing charter schools with rent, lease, debt service, and <strong>Proposition 39</strong> pro-rata payments or costs related to the purchase, acquisition, design, new construction, or renovation of school facilities.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2004 </h2> <div class="timelineButtonLeft timelineButton2"> <img src="/images/content/buttons/csfa/csfProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="2004continued"><strong>Proposition 55, Kindergarten-University Public Education Facilities Bond Act of 2004 </strong></span> a legislative bond act <strong>AB 16 (Alpert [D-San Diego County]) Ch.33/2002</strong>, is approved, allocating <strong>$7.05 billion</strong> for new construction and modernization projects with a focus on Critically Overcrowded Schools. <strong>$300 million</strong> is allocated to the <strong>Charter School Facilities Program</strong>.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-.75rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2006 </h2> <div class="timelineButtonRight timelineButton2"> <img src="/images/content/buttons/csfa/csfProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="2006"><strong>Proposition 1D, Kindergarten-University Public Education Facilities Bond Act of 2006</strong></span> a legislative bond act <strong>Nunez</strong> [D - Los Angeles] <strong>AB 127, Ch. 35 </strong> is approved; <strong>$500 million</strong> is allocated to the <strong>Charter School Facilities Program</strong>. </p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2006 </h2> <div class="timelineButtonLeft timelineButton4"> <img src="/images/content/buttons/csfa/bondFinancing.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left" style="padding-right:2.2rem;"><span id="2006continued"><strong>California School Finance Authority Act (AB 2717 Walters [R – Dana Point]), Ch. 325/2006</strong></span>, provides that charter schools are eligible for assistance by providing financing for working capital, as defined, and capital improvements under the amendment to this Act.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2009 </h2> <div class="timelineButtonRight timelineButton3"> <img src="/images/content/buttons/csfa/csfigProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight">The <span id="2009"><strong>State Charter Schools Facilities Incentive Grants Program</strong></span> receives an additional <strong>$48.5 million</strong> in funds to continue assisting high-performing charter schools with facilities costs as CSFA is awarded a second grant from the <strong>U.S. Department of Education</strong> (CFDA #84.282D).</p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2009 </h2> <div class="timelineButtonLeft timelineButton3"> <img src="/images/content/buttons/csfa/csfigProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="2009continued"><strong>CSFA</strong> receives a second award of <strong>$8.3 million</strong></span> from the <strong>U.S. Department of Education</strong>. This grant was issued to create the <strong>Charter School Facilities Credit Enhancement Grant Program</strong>.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2013 </h2> <div class="timelineButtonRight timelineButton5" style="margin-left:-3.05rem;"> <img style="margin-left:.5rem;z-index:2;" src="/images/content/buttons/csfa/csfgProgram.png" width="42" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="2013"><strong>AB 86 The Education Finance: (Education Omnibus Trailer Bill Committee on Budget) Ch. 48/2013</strong></span> passes and transfers administration of the <strong><a href="/csfa/csfgp/index.asp">Charter School Facility Grant Program (SB740)</a> (SB 740 O’Connell [D – Santa Barbara]) Ch. 892/2001</strong> and <strong><a href="/csfa/csrlf/index.asp">Charter School Revolving Loan Fund</a></strong> from the <strong>California Department of Education</strong> to the <strong>California School Finance Authority</strong>. These programs provide annual assistance with facilities rent and lease expenditures to charter schools meeting certain eligibility criteria.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2014 </h2> <div class="timelineButtonLeft timelineButton3"> <img src="/images/content/buttons/csfa/csfigProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="2014"><strong>CSFA</strong> receives its third <strong>$50 million</strong> award under the <strong>U.S. Department of Education’s State Charter Schools Facilities Incentive Grants Program </strong>(CFDA #84.282D)</span> to assist high-performing charter schools with facilities costs.</p></p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2016 </h2> <div class="timelineButtonRight timelineButton2"> <img src="/images/content/buttons/csfa/csfProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="2016"><strong>Proposition 51, the Kindergarten Through Community College Public Education Facilities Bond Act of 2016</strong></span> an initiative state statute is approved, issuing <strong>$9 billion</strong> to fund improvement and construction of school facilities for K-12 schools and community colleges. <strong>$500 million in GO Bond funding</strong> is allocated to the <strong>Charter School Facilities Program</strong>.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2017 </h2> <div class="timelineButtonLeft timelineButton7"> <img src="/images/content/buttons/csfa/panacea.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="2017"><strong>CSFA</strong> is awarded <strong>$8 million</strong> from the <strong>U.S. Department of Education Expanding Quality Charter Schools Program – Grants for Credit Enhancement for Charter School Facilities</strong> (CFDA #84.354) grant</span> and creates the <strong>Project Acceleration Notes and Credit Enhancement Alternatives Overview (PANACEA) Program</strong>. The program supports short-term interim financing to charter schools that have received a reservation of funds through the <strong>Charter School Facilities Program</strong> or are awaiting the issuance of long-term debt through <strong>CSFA’s Conduit Bond and Note Financing Program</strong>.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2019 </h2> <div class="timelineButtonRight timelineButton6"> <img src="/images/content/buttons/csfa/enhancementGrant.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight"><span id="2019"><strong>CSFA</strong> is awarded a <strong>$20 million credit enhancement grant</strong> (CFDA #84.354A) by the <strong>U.S. Department of Education</strong></span> to enhance bank loan financing for charter school facilities and creates the <strong>Charter Access Bank Loan Enhancement Program (Charter ABLE)</strong>.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2020 </h2> <div class="timelineButtonLeft timelineButton7"> <img src="/images/content/buttons/csfa/panacea.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><span id="2020">CSFA’s Board approved the first student housing revenue bond sale for Santa Rosa Junior College (SRJC), a community devastated by wildfire.</span> The $68 million financing marks the inaugural issuance of community college student housing bonds by CSFA. The 352-bed housing project on the Santa Rosa campus will be SRJC’s first on-campus student housing, and it will provide safe, affordable, and accessible housing to the culturally and economically diverse SRJC student population. </p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2021 </h2> <div class="timelineButtonRight timelineButton6"> <img src="/images/content/buttons/csfa/enhancementGrant.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight">The federally-funded Charter Finance Enhancement (Charter FinE) Program was created from a $10 million grant awarded through the federal “Expanding Quality Charter Schools Program – Grants for Credit Enhancement for Charter School Facilities” (CFDA #84.354A). This program enhances financings to charter schools to lower costs associated for permanent charter school facilities.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2022 </h2> <div class="timelineButtonLeft timelineButton7"> <img src="/images/content/buttons/csfa/panacea.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left">AB 1602 establishes the California Student Housing Revolving Loan Fund (CaSHRLF) program for the purpose of providing 0% interest loans to qualifying University and College applicants for the purpose of constructing affordable housing facilities for students and faculty. The program will be jointly administered by CSFA and CEFA, with CSFA focusing specifically on improving access to affordable housing for Community Colleges.</p> </div> <div class="flexItem"> <p> </p> </div> </div>  <div class="timelineContents" style="margin-top:-1.5rem;"> <div class="flexItem"> <p> </p> </div> <div class="flexItem"> <h2 class="yearRight">  <span class="arrow">➧</span>2023 </h2> <div class="timelineButtonRight timelineButton2"> <img src="/images/content/buttons/csfa/csfProgram.png" width="38" height="46" alt="CSFA logo"> </div> <p class="textRight">The newly awarded credit enhancement is a $20 million grant, $10 million of it for debt service supplementing credit enhancement grants, the other $10 million for loan-enhancements for leased facilities for smaller charters. This program will be active in late spring/early summer 2024. The CaSHRLF program received an initial appropriation of $200 million for the 2023-24 fiscal year, $50 million of which is to be used specifically to fund projects that will increase availability of affordable housing for Community College students and faculty.</p> </div> </div>  <div class="timelineContents" style="margin-top:-1rem;"> <div class="flexItem"> <h2 class="yearLeft">  <span class="arrow">➧</span>2024 </h2> <div class="timelineButtonLeft timelineButton7"> <img src="/images/content/buttons/csfa/panacea.png" width="38" height="46" alt="CSFA logo"> </div> <p class="text-left"><strong>CSFA</strong> receives its fifth award under the <strong>U.S. Department of Education’s State Charter Schools Facilities Incentive Grants Program </strong>(CFDA #84.282D) for <strong>$30 million</strong> to assist high-performing charter schools with facilities costs.</p> <p class="text-left">With passage of <strong>Proposition 2</strong>, CSFA, in conjunction with the Office of Public School Construction (OPSC) will co-administer <strong>$600 million</strong> in public funding as part of the <strong>Charter School Facilities Program</strong>. The program funds 50 percent of project costs as a grant (paid by the State), while the charter school, in the form of a long-term lease or a lump sum payment, repays the other 50 percent.</p> <p class="text-left">CSFA passes a milestone by closing its 150th conduit financing. By the end of 2024, CSFA had 158 financings with over $3.7 billion issued.</p> </div> <div class="flexItem"> <p> </p> </div> </div> </div> <br> <div class="cleaner"></div> <hr class="rule1"> <p class="note2"><strong>Key:</strong> CS = Charter Schools, USDE = U.S. Dept. of Education, GO = General Obligation, CDE = California Dept. of Education</p> <hr class="rule1"> <br> <div class="cleaner"></div> <br> </div> <div class="cleaner"></div> </div> </div> </div>  <div id="footer_2" role="region" aria-label="footer"> <div><a href="/index.asp">Home</a> | <a href="/comments.asp">Comments</a> | <a href="/disclaimer.asp">Disclosure Notice</a> | <a href="/privacy.asp"> Privacy Notice</a> | <a href="/accessibility.asp">Accessibility Statement</a> | <a href="/unclaimed.asp">Unclaimed Property</a> | <a href="/sitemap.asp">Site Map</a> | <a href="http://get.adobe.com/reader/">Download Adobe Reader</a></div> <div> © 2025 California State Treasurer's Office </div> </div> <script async src="https://siteimproveanalytics.com/js/siteanalyze_1386.js"></script> <script type="text/javascript" src="/_Incapsula_Resource?SWJIYLWA=719d34d31c8e3a6e6fffd425f7e032f3&ns=2&cb=1108910367" async></script></body> </html>

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