FAQ

Q: How will the charter school be funded?

Startup funding might be available from EB-5 investors, and operational funding will be the $6,915/student that OCPS provides to charter schools within OCPS jurisdiction.   See here for blog posting: 

https://begreatacademy.wordpress.com/2012/12/22/ocps-2012-2013-budget-for-charter-school-students-6-915/

There is also a FL state grant program, which provides $25,000 in startup funding before the charter school opens, and up to $325,00 over 2 years after the charter school has opened.    See below for blog posting

https://begreatacademy.wordpress.com/2012/12/22/florida-public-charter-schools-grant-program-up-to-350000/

Another startup funding source is the FL Charter School Growth Fund.

CSGF-Florida is offering up to $250,000 in grant funding to those operators who are launching a new school in either 2013 or 2014. Eligible applicants will serve (or plan to serve) a student population that is over 50% free and reduced lunch and are opening a new school in a high-need geographic market.

FL Charter Growth School Growth Fund

Q: What is an EB-5 visa, and how will it help with funding?

Here’s a Wikipedia definition of the EB-5 visa.  Investors have already invested $30 million in FL charter schools in 2012, and are seeking to invest another $90 million in 2013. 

Reuters Oct 2012 article

in Florida, state business development officials say foreign investment in charter schools is poised to triple next year, to $90 million. 

Q: Where will the charter school be located?

SW Orlando.  The FL legislature has pending legislation that will allow charter schools to use rent-free vacant or under-utilized school facilities.  

The bill, introduced by Rep. George Moraitis, R-Fort Lauderdale, initially allowed charters to use the district facilities free of charge – with districts paying for upkeep. It was amended to require charters to pay for maintenance themselves or pay the district to do it.

Q: When will the charter school open?

If the charter school application is filed by August 1st 2013, and approved, then the charter school will open in Fall 2014 with Grades 6, 7, and 9. Over time, we will include Grades 8, 10, 11 and 12.

Q: What if I can’t find an answer to my question in this FAQ?

Please contact Mark (mlee @ alum DOT mit DOT edu).  Replace the word “DOT” with the appropriate punctuation symbol.

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