$125M in bonds to help build more charter schools

TRENTON – The state treasurer has given the green light to some $125 million in qualified school construction bonds to help build more charter schools throughout the state.

Economic Development Authority CEO Michelle Brown said the funds will go a long way in making sure charter schools are housed in better buildings.

She cited a study by the state Charter School Association that said most of the schools are in “outdated” buildings.

The last amount of funding for this purpose – $35 million in 2010 – has been exhausted, Brown said.  

The EDA will make recommendations this spring on which charter schools should be awarded the bonds, Brown said.

$125M in bonds to help build more charter schools