City of Baltimore - File #: 05-0096R

• File #: 05-0096R
• Version: 0
• Name: Charter School Development Financing Authority - Funding the Education of Our Children
• Type: City Council Resolution
• Status: Failed - End of Term
• File created: 10/17/2005
• In control: City Council
• Final action: 12/5/2007
• Title: Charter School Development Financing Authority - Funding the Education of Our Children FOR the purpose of requesting that the City of Baltimore, along with local business owners, non-profit organizations, and other various private organizations, come together to aid in the formation of the Charter School Development Financing Authority in order to help Baltimore City Charter Schools develop innovative financing to pay for the upkeep of current facilities, provide funding for new charter school construction projects, and student grants, as well as provide the means to obtain and promote donations for the benefit of charter schools in Baltimore City.
• Sponsors: Keiffer Mitchell, President Dixon, Robert Curran, Kenneth Harris, Mary Pat Clarke, Stephanie Rawlings Blake, Edward Reisinger, Nicholas C. D'Adamo, Agnes Welch, Paula Johnson Branch, James B. Kraft
• Indexes: Charter Schools, Educational Facilities, School

Date	Ver.	Action By	Action	Result
10/30/2006	0	Economic Development and Public Financing Subcommittee	Recommended Favorably with Amendment
10/30/2006	0	City Council	Re-referred to Committee
9/25/2006	0	Economic Development and Public Financing Subcommittee	Scheduled for a Public Hearing
10/20/2005	0	The City Council	Referred for a Report
10/17/2005	0	City Council	Introduced
10/17/2005	0	City Council	Assigned

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: Councilmember Mitchell


A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
Title
Charter School Development Financing Authority - Funding the Education of Our Children

FOR the purpose of requesting that the City of Baltimore, along with local business owners, non-profit organizations, and other various private organizations, come together to aid in the formation of the Charter School Development Financing Authority in order to help Baltimore City Charter Schools develop innovative financing to pay for the upkeep of current facilities, provide funding for new charter school construction projects, and student grants, as well as provide the means to obtain and promote donations for the benefit of charter schools in Baltimore City.
Body
Recitals

For a charter school to be successful, the first challenge that administrators must overcome is finding the appropriate funding to finance the school buildings themselves. State charter school laws typically do not provide charter schools with any up-front funding for facilities, nor do they provide charter schools with ongoing revenue with which to make lease or loan payments. Unlike district schools that use existing public school buildings, charter school administrators must find facilities on their own with little or no funding from the state or district. As a result, charter schools must raise private funds or find other financing for up-front costs and t...