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ELF Financing Strategy San Mateo County ELF Study‐2016 February 21, 2017 Prepared by Brion Economics Team Final Report 20 challenges to getting CDBGs for child care projects, but they have funded some child care projects in different cities and counties in California, including San Mateo County. Annual entitlement funds go to the cities of Daly City, South San Francisco, San Mateo and Redwood City, and County of San Mateo for the remaining cities and incorporated areas. Some of the challenges include timelines of application and funding, and having a shovel‐ready project that can spend the money in the year allocated. State Child Care Facilities Revolving Fund This funding source can be used to address existing shortfalls or requirements of new development. The California Department of Education (CDE), Early Education and Support Division (EESD) administers the Child Care Facilities Revolving Fund (CCFRF).18 This fund was established in 1997 pursuant to California Education Code Section 8278.3. The CCFRF is a lease‐purchase program that provides funding to existing CDE child care contracting agencies for the acquisition of relocatable building facilities to support their child care and development programs. Applicant agencies receiving funds under the CCFRF General Facilities loans must repay the CDE over a ten‐year period, interest free. The CCFRF may be used for the purchase, transportation, and installation of relocatable buildings (including architect and inspection fees, site development, and site improvement costs). The maximum funding allowance is $420,000 for a new, basic building typically consisting of three 12 by 40 foot sections. The maximum allowance may be increased and additional funds may be approved based on the number of additional sections added to increase capacity and serve additional children. The CCFRF provides up to $140,000 for each additional 12 by 40‐foot section beyond the typical basic building. Due to the revolving nature of the CCFRF, applications are continuously accepted under the General Facilities Application process when funding is available. The EESD processes and funds these applications on a first‐come, first‐serve basis. Applicants must submit a separate application for each relocatable building for which funding is being requested. While this is a good potential source for portables, the program is only available for State Contractors that provide subsidized child care, i.e., California State Preschool program and General Child Care funding (serving 0 to 13). In addition, this program doesn’t provide adequate funding for non‐child care space for administration, adult facilities, storage, etc. Silicon Valley Community Foundation The Silicon Valley Community Foundation (SVCF) is a center of philanthropy that partners with donors to “strengthen the common good locally and throughout the world.” 19 Individuals, families, and corporations create advised funds to help address community challenges. SVCF partners with nonprofits, government, and funders to make an impact on critical social issues. SVCF’s Center for Early Learning (CEL) is interested in partnering with San Mateo County on this effort. It is not clear that 18 See http://www.cde.ca.gov/fg/fo/r2/ccfrfgf1617rfa.asp 19 Silicon Valley Community Foundation website, viewed January 13, 2017. http://www.ssf.net/DocumentCenter/View/12891 8.C. - Page 39