First-of-its-kind public-private partnership will support 7,500+ new, high-quality public charter seats in the state
When it comes to expanding access to a high-quality education, Nevada public charter schools have a new ace up their sleeve.
Just one year from the launch of EFF's first state-based revolving loan fund in Texas, we are proud to announce the creation of the Nevada Facilities Fund (NVFF), offering high-impact and high-potential public charter schools affordable, low-interest financing for purchasing, building or refinancing facilities.
The $100 million state fund is expected to help the highest-impact Nevada public charter schools add 7,500+ new seats in the coming years. These low-cost loans will save schools around $25 million, directing critical funding back where it belongs - the classroom.
What makes NVFF different? EFF has partnered with Opportunity 180, Governor Joe Lombardo, Treasurer Zach Conine and the Nevada State Infrastructure Bank to create the first public-private partnership that provides a dedicated facility funding resource for public charter schools looking to open or expand in Nevada. EFF will leverage $20 million contributed by the State Infrastructure Bank and local philanthropists with an additional $80 million of low-yield bond proceeds issued to our national investor base - allowing charter schools to borrow at sub-5%* interest rates.
The Nevada Facilities Fund is the public school facilities solution that Nevada families deserve. Together, we’re combining local expertise, a proven national model, and state, federal and philanthropic funding to catalyze something that will make a difference for children for years to come.