225.11—What selection criteria does the Secretary use in evaluating an application for a Credit Enhancement for Charter School Facilities grant?
The Secretary uses the following criteria to evaluate an application for a Credit Enhancement for Charter School Facilities grant:
(a) Quality of project design and significance.
(35 points) In determining the quality of project design and significance, the Secretary considers—
(1)
The extent to which the grant proposal would provide financing to charter schools at better rates and terms than they can receive absent assistance through the program;
(2)
The extent to which the project goals, objectives, and timeline are clearly specified, measurable, and appropriate for the purpose of the program;
(3)
The extent to which the project implementation plan and activities, including the partnerships established, are likely to achieve measurable objectives that further the purposes of the program;
(5)
The extent to which the project will use appropriate criteria for selecting charter schools for assistance and for determining the type and amount of assistance to be given;
(6)
The extent to which the proposed activities will leverage private or public-sector funding and increase the number and variety of charter schools assisted in meeting their facilities needs more than would be accomplished absent the program;
(7)
The extent to which the project will serve charter schools in States with strong charter laws, consistent with the criteria for such laws in section 5202(e)(3) of the Elementary and Secondary Education Act of 1965; and
(8)
The extent to which the requested grant amount and the project costs are reasonable in relation to the objectives, design, and potential significance of the project.
(b) Quality of project services.
(15 points) In determining the quality of the project services, the Secretary considers—
(1)
The extent to which the services to be provided by the project reflect the identified needs of the charter schools to be served;
(2)
The extent to which charter schools and chartering agencies were involved in the design of, and demonstrate support for, the project;
(3)
The extent to which the technical assistance and other services to be provided by the proposed grant project involve the use of cost-effective strategies for increasing charter schools' access to facilities financing, including the reasonableness of fees and lending terms; and
(4)
The extent to which the services to be provided by the proposed grant project are focused on assisting charter schools with a likelihood of success and the greatest demonstrated need for assistance under the program.
(c) Capacity.
(35 points) In determining an applicant's business and organizational capacity to carry out the project, the Secretary considers—
(1)
The amount and quality of experience of the applicant in carrying out the activities it proposes to undertake in its application, such as enhancing the credit on debt issuances, guaranteeing leases, and facilitating financing;
(3)
The ability of the applicant to protect against unwarranted risk in its loan underwriting, portfolio monitoring, and financial management;
(4)
The applicant's expertise in education to evaluate the likelihood of success of a charter school;
(5)
The ability of the applicant to prevent conflicts of interest, including conflicts of interest by employees and members of the board of directors in a decision-making role;
(6)
If the applicant has co-applicants (consortium members), partners, or other grant project participants, the specific resources to be contributed by each co-applicant (consortium member), partner, or other grant project participant to the implementation and success of the grant project;
(7)
For State governmental entities, the extent to which steps have been or will be taken to ensure that charter schools within the State receive the funding needed to obtain adequate facilities; and
(8)
For previous grantees under the charter school facilities programs, their performance in implementing these grants.
(d) Quality of project personnel.
(15 points) In determining the quality of project personnel, the Secretary considers—
(1)
The qualifications of project personnel, including relevant training and experience, of the project manager and other members of the project team, including consultants or subcontractors; and
(2)
The staffing plan for the grant project. (Approved by the Office of Management and Budget under control number 1855-0007)