The Answer Key: How to Plan, Develop and Finance Your Charter School Facility
December 14, 2005
NCB Development Corporation
For many charter schools, finding a suitable home is a huge challenge. Most states provide little if any financial support for charter facilities. (For more on this, see Fordham's Charter School Funding: Inequity's Next Frontier.) To alleviate the problem, NCB Development Corporation has released this useful guide on all aspects of the charter facility decision: Whether to lease or buy, how to calculate space requirements, how to finance it, and how to work with architects and construction teams. The guide also includes templates for planning budgets, cash flows, and loan applications. It strives to help charter leaders thoughtfully approach choices among types of facilities—churches, converted warehouses, etc.—and offers practical descriptions of bidding options, financing structures, and construction processes. Perhaps most important, it's written in a style accessible to those who are not real estate or finance pros. Given the prevalence and severity of facilities woes faced by charters, their leaders and board members will likely find this work useful. You can find it online here.