Despite a prohibition on using state funds to build charter schools, the city has quietly expanded available funding for charter school construction to as much as $3.8 billion.
A recent provision in the city’s capital construction plan allows charter schools that target overcrowded neighborhoods — and that demonstrate community support — to tap into a pool of nearly $4 billion in “new capacity” funds that was previously reserved for traditional public schools.
To date, two charter schools — both Carl Icahn charter schools in The Bronx — have tapped into the new funding source.
The schools have had to put up at least 10 percent of the costs for their facilities.