Eagle County Charter Academy receives state grant for new building
Vail, CO Colorado
EAGLE COUNTY, Colorado – The Eagle County Charter Academy is in line for a $9.3 million grant from a state program. That money, plus a $2.9 million local match, would build a 45,000 square-foot facility with 26 classrooms for students in kindergarten through eighth grade.
The Colorado Treasurer’s Office Thursday announced the grants in the statewide “Building Excellent Schools Today” program, which is funded through a combination of income from property administered by the State Land Board and money from the state’s lottery funds.
The latest round of grants totals $158 million.
According to a release from the treasurer’s office, the program is intended to help school districts with smaller tax bases build new schools or pay for capital improvements. The competitive grant program applies to school districts and charter schools. The Public School Capital Construction Assistance Board awards the grants on the basis of need.
The program requires each school district or charter school to pay matching funds for the project under consideration. In the case of the charter academy, the amount is more than $2.9 million.
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According to the release announcing this year’s grant winners, districts usually find matching funds by passing voter-approved bonds. In the case of the charter academy, the matching funds will come from $937,000 raised by the school’s foundation since 1994, and a $2 million contribution from the Eagle County School District – of which the charter academy is a part – from a 2009 agreement negotiated between the district’s school board and the charter acaedemy’s board.