Revolving Loan Fund
The purpose of the Schools of Hope Revolving Loan Program is to provide assistance to Schools of Hope operators to meet building construction needs and pay for expenses related to the startup of a new charter school. The program shall consist of funds appropriated by the Legislature money received from the repayment of loans made from the program, and interest earned.
The Legislature has to date appropriated $100 million to the Revolving Loan Fund. The Department has selected Building Hope as the third-party administrator for the Fund.
The following payments have been made to Hope operators:
IDEA Public Schools -- $7,969,479, in September 2020, for its location at 5050 10th Ave., Tampa (scheduled to open Fall 2021)
IDEA Public Schools -- $8,152,777, in March 2021, for its location at 11612 N. Nebraska Avenue, Tampa, FL 33612 (scheduled to open Fall 2021)
IDEA Public Schools -- $8,155,501, in March 2021, for its location at 1845 Bassett Road, Jacksonville, FL 32208
IDEA Public Schools -- $8,155,501, in May 2021, for its location at 2354 University Boulevard, Jacksonville
IDEA Public Schools -- $8,155,501, in February 2022, for its location at Lenox and Lane avenues, Jacksonville