Gilroy Prep School was recently approved to receive $4.68 million from the state of California’s Charter School Facilities Program. The funding will support the rehabilitation of existing school property and the construction of new K-8 classrooms.
California State Treasurer Fiona Ma’s office announced the local funding approval last week.
“Gilroy Unified has shown that Gilroy Prep is on the right path,” Ma said. “Today’s approval reflects our confidence in Gilroy Prep’s strong commitment to educational excellence. This partnership between the state, district and the school is a model to be replicated throughout the state.”
Gilroy Prep School is located at 277 IOOF Ave. The school is a member of the Navigator Schools organization.
Of the total $4.68 million total project cost, half will be funded through a state apportionment. The rest will be funded through a matching share loan that Gilroy Prep will repay over 30 years, Ma’s office said.
“We are tremendously grateful for this partnership with Treasurer Ma and Gilroy Unified,” said Navigator School CEO and Superintendent Caprice Young. “These facility upgrades will increase the number of historically underserved students with access to a great education.”
Using a model of data-driven instruction and blended learning, Gilroy Prep is dedicated to increasing high-quality educational opportunities for students in California’s Central Coast region, says the release. All students are welcome, including those with limited English skills, special needs or learning challenges.
Created in 1985, the Charter School Facilities Authority is an agency of the State Treasurer’s Office providing tax exempt, low-cost financing and grant award funding to school districts, charter schools and community college districts to assist with facility related costs and to provide financing for working capital.
In 2002, Assembly Bill 14 created the Charter School Facilities Program to be co-administered by the authority and the Office of Public School Construction. The program is funded through voter approved bond measures, which are then apportioned by the State Allocation Board after project approval, Ma’s office explained.
The Program covers 50% of project costs, with applicants providing the remaining amount through a matching share loan or contribution.
With the passage of Proposition 2 in fall 2024, the next funding round for the Charter School Facilities Program will open on July 3, 2025.
