TRENTON – The Economic Development Authority at its Thursday meeting approved an invitation list for certain charter schools to apply for $125 million in Qualified School Construction bonds.
The authority received a total of 16 applications from 13 charter schools and scored each one based on certain criteria, such as the proposed academic impact of the construction project, the school’s standing and evaluation of the students it serves.
The EDA and the state Education Department whittled the requests from 15 to six. Four of them are from a single charter school, Uncommon Charter School/North Star Academy. Between its four applications, it potentially could be approved for $77 million of the $125 million in QSCBs.
The other two applications are from University Heights Charter School ($8 million bond request) and TEAM Academy-Ashland Project ($40 million).
EDA stressed that the motion approved today was strictly an invitation, meaning the selected candidates must still go through an application process.