CSCDA K-12 Private School Policy
It is the policy of the California Statewide Communities Development Authority (the “Authority”) to consider favorably the issuance of bonds, notes or other evidences of indebtedness (the “Bonds”) for the financing or refinancing of K-12 educational facilities to be utilized by a non-profit organization (the “Applicant”) provided that the Applicant does not discriminate on the basis of a student’s national or ethnic origin, disability, race, creed, color, sexual preference or religion in the administration of its admission policies and is able to demonstrate that the community will receive a public benefit as a result of the financing or refinancing of the Applicant’s facilities, including, but not limited to, one or more of the following:
- The Applicant undertakes community outreach programs providing educational, cultural or philanthropic benefits to the community.
- The Applicant permits public access to its athletic fields, recreational facilities or other school facilities.
- The Applicant can demonstrate to the Authority that it provides reasonable financial assistance to those students in need by outlining the following: (1) total number of students receiving financial assistance; (2) total amount of financial assistance provided to individual students or entire student population; (3) other financial assistance offered to students.
The requirements as listed above will apply to the financing or refinancing of facilities that will be used for educating children in the elementary, middle and/or upper grade levels (pre-school to the twelfth grade). The Authority will consider each request for approval of projects not adhering to the Authority’s requirements as described above on a case-by-case basis.
The Authority may review the requirements as listed above from time to time and at such time will make any modifications to such requirements as the Authority deems appropriate.
Effective Date: April 20, 2011