California Prop 39 Deadline for Charter Schools
California’s Prop 39 zero-cost energy upgrades can yield charter schools up to 40% reduction in ongoing utility costs. The State of California has generously allocated $55k-$500k+ to every California charter school for energy upgrades.
So far, only 40% of schools have taken advantage of the program. We think the reason for low participation is either:

Schools think this is the previous Prop 39 – which had nothing to do with energy upgrades, or
Schools believed that if they didn’t own the building, they could not participate in the program

Not only can any charter school participate; but – in some cases – you can bill the program for upgrades that have been implemented in the past.
We believe in the program so much that our affiliated real estate arm is supporting upgrades on 100% of our properties in California.
The program is simple and we can help
All that is required is to 1) invite a qualified energy consultant (we can help you get in touch) into your school for an energy audit; and 2) provide them with your last 12 months of utility bills, and that’s it.
The audit you’ll get back will include:

Projected costs (which you can pay for with your allocation)
Projected savings on your utility bill every month
A non-intrusive implementation plan so your students and teachers are not interrupted

This is a great program, but your allocation will evaporate on February 26^th 2018 if you have not filed the paperwork (the energy consultant will do this for you). You would have 2+ years to actually conduct the upgrade.
We can help you look up your allocation, provide you with energy auditor contacts, answer your questions and provide contacts at the California Dept. of Ed and Energy Commission.
Thanks. Let’s talk. And soon.

Our team is looking forward to this year’s Florida Charter School Conference in Daytona Beach, FL. We’ll be presenting an info-packed session, “I Need a Better Facility for My School: Now What?” and streaming it live on Facebook for anyone who isn’t at this year’s event. Additionally, our team will be located at booth #400 to answer questions about working capital and facilities financing support, and passing out our free Facilities How-To Packet.

I hear it time and time again – access to adequate facilities is one of the most significant challenges charter schools face today. With more than 1 million students across the country on charter school waitlists and the fact that many charters operate in suboptimal buildings, the lack of facilities is a severe obstacle to charter growth. As a result, many charter leaders have asked us to help solve their charter school facilities problem.
In response, we have created a slew of great how-to resources on navigating the world of charter school facilities. We have an on-demand webinar on facilities financing for charter schools, a checklist for facilities planning, and a valuable infographic on what you should know about facilities financing for charters schools.
Additionally, we have created a facilities program for charter schools that can finance 100% of your total project cost. We have successfully implemented the service now with 41 schools in 11 states. These schools range in attendance from 135 to 1,400 students with educational programs that include college preparatory, art-focused, STEM schools and others. Our goal is to aid charter leaders like you, so you have available and flexible financing options to meet your school’s needs today, along with the requirements you have in the future.
If you need help with charter school facilities expansion, financing, site design and selection, or facility development, our team of experts is here to help you with resources and a free school facilities assessment. Reach out to us at growcharters@charterschoolcapital.com and we’ll see what we can do for your school.
Let the learning continue,

Stuart Ellis
President + CEO
Charter School Capital

Charter School Capital, the nation’s leading provider of growth capital and facilities financing to charter schools, reported today that construction of the second building on the Wayne Preparatory Academy (WPA) premises is underway. Located at 600 Tommy’s Road in Goldsboro, N.C., the new 29,396 square foot building will serve middle school students of the charter school starting in the fall of 2018.

Charter School Capital’s facilities arm, American Education Properties (AEP), purchased the 53- acre property occupied by Wayne Preparatory Academy earlier this summer for $9.2 million. The charter school currently serves scholars in grades K-7. The existing 31,469 square foot complex on the property was built in 2014 along with a 2,500 square foot building which will serve as a preschool for 3-, 4- and 5-year-olds.

“We are extremely pleased to support Wayne Preparatory Academy in their growth, adding a middle school to serve the community’s educational needs,” said Stuart Ellis, CEO of Charter School Capital and AEP. “Once the middle school building is completed, 350 additional scholars will have access to the quality education provided by the dedicated team of educators at WPA.”

The new middle school building will include 18 classrooms, a gymnasium/multi-purpose room complete with a stage, and a library and media center. Construction and design of the new middle school facility is being directed by the board and staff of Wayne Preparatory Academy.

“It is so exciting to see this new middle school come to fruition,” said Wayne Preparatory Academy Board Chair, Sharon Thompson. “We are incredibly grateful to the team at Charter School Capital for helping make the dreams for our school community become reality. And our academic program continues to exceed expectations providing the education our students desperately need.”

Once the new middle school building is completed, Wayne Preparatory Academy has its sights set on adding a high school to its program.

“Wayne Preparatory Academy is on the threshold of remarkable growth,” said Taft Morley, chief operating officer of American Charter Development. “It takes an incredible combination of desire and wherewithal to convert a grand vision into reality, and that is exactly what is happening at this impressive charter school.”

For more information on how Charter School Capital can help you assess your charter school’s facilities needs, check out our website and contact us at GrowCharters@CharterSchoolCapital.org.

Charter School Capital sponsored a breakfast meeting this week in Florida with more than 50 charter school principals and assistant principals from the Orange County Public School District in attendance. This gathering was co-sponsored by Kia Scott, Executive Director, and Gina Doyle, Senior Administrator of the School Choice Services of the Orange County Public Schools.

We presented information focused on charter school resources, particularly growth capital and charter facilities funding. Keeping with an education focus, attendees were then asked to take an open book “pop quiz” based on some of our handouts.
This was our team’s second breakfast meeting for the Orange County School District, and we hope to continue working with charter leaders to provide additional sessions focused on growth capital and charter facilities funding. If you are interested in having our team meet with your group, please contact GrowCharters@charterschoolcapital.com.

Charter School Capital, the nation’s leading provider of growth capital and charter school facilities funds to charter schools, announced today that its facilities arm, American Education Properties (AEP), has purchased the building located at 600 Tommy’s Road in Goldsboro, N.C., from American Charter Development for $9.2 million. Funded earlier this summer, the acquisition provides a long term home for current tenant, Wayne Preparatory Academy, a charter school currently serving grades K-6.
Acquisition of the Wayne Preparatory Academy property is the first charter school facilities funds transaction by the company in the state of North Carolina. It was made possible through a $500 million pool of capital launched in 2014 designed specifically for charter school facilities needs. Currently there are 41 charter school properties under management, $450 million, and the company continues to increase its pool of available capital earmarked specifically for charter school facilities financing.
“We are very pleased to empower Wayne Preparatory Academy with a permanent home, and fully intend to allow the school’s administrators complete access and full control of their building,” said Stuart Ellis, CEO of Charter School Capital and AEP. “With a student body that is at capacity, and a healthy waiting list, Wayne Preparatory Academy is by all accounts growing, and we look forward to expanding its facility to accommodate that growth.”
A 31,469 square foot complex situated on a 50-acre parcel, the Wayne Preparatory Academy facility was built in 2014. The school has 17 years remaining on a 20-year lease, which the company will assume and reconfigure as part of the transaction.
The company will begin an expansion of the Wayne facility to accommodate growth of the middle school population through the 8^th grade, which is planned for the 2018/19 school year. Wayne Preparatory Academy will also add a high school to its program once the facility is built out.
“There is more to this transaction than simply financing. It is Charter School Capital’s testament of support for the growth and future of Wayne Preparatory Academy,” said Taft Morley, chief operating officer of American Charter Development. “We have been delighted to support the school through its growth thus far, and are heartened in knowing that the school facility will be a top-notch environment fostering excellence in education for many years to come.”
Today, more than 1 million students find themselves on waiting lists for their local charter schools. The National Alliance for Public Charter Schools continues to highlight the lack of facilities options available to charter schools as a major issue charter leaders face. To meet this demand, charter schools require facilities that address the unique growth needs of each school and community and require access to charter school facilities funds to expand. Charter School Capital focuses solely on charter school needs, providing customizable facilities financing options to charter schools. Charter leaders retain control of their buildings and are afforded the flexibility to make the modifications necessary to expand their enrollment and academic programs.
To date, Charter School Capital has invested $1.5 billion to 550+ charter schools supporting 650,000 students across the country. Currently we have more than 40 charter school properties under management.
For more information on how Charter School Capital can help you assess your charter school’s facilities needs, check out our website and contact us at GrowCharters@CharterSchoolCapital.org.

Charter School Capital’s facilities arm, American Education Properties (AEP), has acquired two Florida charter school facilities for $30.5 million from ESJ Capital Partners and MG3 Developer Group.
The charter schools operating in the two facilities are Renaissance Charter School at University in Tamarac, Fla. and Kid’s Community College Southeast Riverview in Riverview, Fla. The Renaissance property was acquired for $22,296,330, and the Kid’s Community College property was acquired for $8,208,100. As part of the acquisition, the company has assumed the existing 20-year leases on both properties, which expire in 2032 and 2033, respectively. The two properties encompass a total of 134,000 square feet on 11.81 acres.
This acquisition marks AEP’s second transaction with ESJ Capital Partners and MG3 Developer Group. In late November, 2016, AEP/Charter School Capital acquired five charter school facilities from the sellers.
“It is such an honor to positively impact the future of the nearly 2,000 students that attend these two impressive Florida charter schools,” said Stuart Ellis, president and CEO of Charter School Capital. “We enjoyed working once again with ESJ and MG3 to arrive at terms that will give the charter school operators the peace of mind that comes in knowing their facilities are securely theirs to operate for years to come.”
Renaissance Charter School at University operates as part of Broward County Public Schools. Located about 10 miles northwest of the Fort Lauderdale business district, the charter school opened in 2012 and will serve 1,426 students in the 2017-18 school year. Managed by Charter Schools USA, one of the oldest and largest charter management organizations (CMO) in the country, the K-8 charter school operates in one 105,002 square foot building on 8.91 acres. The building was originally constructed in 1982 and renovated in 2015.
Kid’s Community College Southeast Riverview operates under the Hillsborough County School District. Located about 15 miles southeast of the Tampa business district, the charter school opened in 2003 and is slated to serve 397 students in the 2017-18 school year. The K-8 charter school operates on a 2.9-acre parcel in a single two-story building built in 2013 that is comprised of 28,998 square feet. It is independently operated by Kid’s Community College, a CMO that manages a total of eight charter schools serving Pre-K through high school.
Today, more than 1 million students are currently on charter school waiting lists. The National Alliance for Public Charters schools continues to highlight the lack of facilities options and funds for charter facilities available as a major issue charter leaders face. To meet this demand, charter schools require facilities that address the unique growth needs of each school and community and require access to capital to expand. Charter School Capital focuses solely on charter school needs, providing funds for charter facilities that are customizable. Charter leaders retain control of their buildings and are afforded the flexibility to make the modifications necessary to expand their enrollment and academic programs.
To date, Charter School Capital has invested $1.5 billion to 550+ charter schools supporting 650,000 students across the country. Currently we have more than 40 charter school properties under management.
For more information on how Charter School Capital can help you assess your charter school’s facilities needs or provide funds for charter facilities, contact GrowCharters@CharterSchoolCapital.org. Also check out more facilities information on our website.

Charter Schools Face Facilities Challenges

Access to appropriate facilities and the funds to pay for them remain big obstacles for charter school expansion today. More than one million students are on charter school waiting lists across the country. One reason for this points to facilities needs. With only 12% of charters able to qualify for a bond, many are left facing financing challenges for facilities they require in order to match their educational programs and the needs of their students. Charter schools across the country are faced with smaller classrooms than their peers, and traditional funding programs simply aren’t sufficient to cover real estate investments or construction costs aimed toward facilities improvements.
According to the National Conference of State Legislation, a “significant relationship” exists between the condition of school facilities and student performance. And, data from the National Alliance for Public Charter Schools (NAPCS), highlights that more than half of charter schools could outgrow their current facilities within five years.
“The dramatic growth of charter schools across the country makes it clear that facilities financing, which is already one of the industry’s largest challenges, is an even more pressing issue today. Working with charter leaders, developers and other partners allow us to serve a broad array of charter schools nationwide by freeing-up resources that schools are then able to allocate to classroom instruction or other operational needs,” explains Stuart Ellis, President and CEO at Charter School Capital.
Back in 2014, Charter School Capital and its facilities arm, American Education Properties, launched with investors a $500 million pool of capital specifically for charter school facilities needs to allow for broader access to charter school facilities funding. To date, Charter School Capital has invested $300 million into charter school facilities with 37 properties under management nationwide. Access to these facilities funds allows charter schools to align their facilities with their educational mission.
Charter schools are able to determine their own long-term facilities needs and maintain full control of their buildings. This represents a major improvement from the year-to-year lease renewals that many charter schools currently experience. By providing long-term facilities security and an investment partner interested in charter school expansion, charter schools now have the ability to expand their enrollment and educational offerings with confidence.
“By providing charter schools security in their facilities, this effort helps lift a burden many schools face and will enable schools to focus, as they should, on their students and their academic results. School administrators will be better able to direct their scarce resources and time toward educating students rather than worrying about real estate needs,” said Nina Rees, president and CEO of the National Alliance for Public Charter Schools.
Charter School Capital offers a variety of financing solutions including working and growth capital in addition to facilities financing, so that charter schools can focus on reaching and teaching more students while continuing to succeed and grow.
If your charter school needs help with expansion, site design and selection or facility development, our team of experts is here to help you with a needs assessment. Contact us at GrowCharters@CharterSchoolCapital.org or learn more on our facilities offerings on our website. Also check out our recent webinars, including one focused on facilities options for charter schools.

The Ultimate Guide to Charter School Facility Financing:
Thinking about a new facility for your charter school or enhancing your current one? This guide shares straightforward and actionable advice on facilities planning, financing options, getting approved, choosing a partner, and much more! Download it here.

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Charter School Capital is excited to announce that its facilities arm, American Education Properties (AEP), has acquired five Florida charter school facilities, securing long-term occupancy and opportunity for the schools’ expansion via charter school facilities financing.
“It is immensely gratifying to positively impact the future of 4,065 students in a single transaction,” said Stuart Ellis, president and CEO of Charter School Capital. “After months of due diligence, we were delighted to arrive at terms that provide five charter schools in Florida with the peace of mind that comes in knowing their facilities are securely theirs to operate with a partner willing to fund growth and expansion for years to come.”
Gabriel Amiel and Arnaud Sitbon, principals of ESJ Capital Partners, stated, “A transaction of this magnitude represents ESJ’s largest charter school sale to date, and confirms our early belief in Florida’s charter school growth. We are pleased to work with the Charter School Capital team to collectively commit to the long term path of charter school education.”
The charter schools, operated by four different charter management organizations (CMOs) encompass a total of 295,992 square feet over 38 acres in Broward, Indian River and Hillsborough Counties. Charter schools operating in the facilities include Renaissance Charter School at Plantation, Imagine Charter and Middle School at Broward, Imagine School at South Vero, Championship Academy of Distinction–Davie Campus, and Kid’s Community College Riverview South.
Today, more than 1 million students find themselves on waiting lists for their local charter schools. The National Alliance for Public Charter Schools continues to highlight the lack of facilities options available to charter schools as a major issue charter leaders face. To meet this demand, charter schools require facilities that address the unique growth needs of each school and community and require access to capital to expand. Charter School Capital focuses solely on charter school needs, providing customizable facilities financing options to charter schools. Charter leaders retain control of their buildings and are afforded the flexibility to make the modifications necessary to expand their enrollment and academic programs.
Looking for more information about facilities expansion? Get in touch with our team at GrowCharters@charterschoolcapital.com.

It’s a new year and time for garnering new facilities knowledge for charter school leaders. Join us for our upcoming facilities webinar chock full of information useful to help charter schools make decisions about their facilities needs.
Register today!
Access to adequate facilities remains one of the biggest challenges charter leaders face today. We will touch on options charter leaders have and walk through the information needed to make informed facilities decisions.
WHEN: Thursday, February 16 at 9:00 a.m. Pacific / 12:00 p.m. Eastern.
SPEAKERS:
Larry Rieder, President, Charter School Property Solutions. He has over 30 years of experience in commercial real estate and has negotiated over $900 million of aggregate lease and equity transactions on behalf of major corporations. He founded CSPS to develop new, long-term academic facilities for charter school institutions. CSPS helps schools by managing the overwhelming tasks of locating, purchasing, financing, constructing and renovating academic facilities throughout the United States. The company has completed projects in Florida, New Mexico, Ohio, Nevada, Texas, and South Carolina.

Stuart Ellis, President & CEO, Charter School Capital. Stuart is one of the founders of Charter School Capital, the nation’s leading provider of growth capital and facilities financing to charter schools nationwide. The company has provided more than $1.2 billion in support of more than 550 charter schools educating 600,000 students.