- (a) School building aid shall be provided by the department from funds appropriated by the legislature to eligible charter schools in accordance with RSA 198:15-b and Ed 321.
- (b) School building aid shall be provided for construction as authorized by RSA 198:15-a, II-a on property owned by a charter school.
- (c) For charter school construction projects, the amount of the building aid grant shall be 30 percent of the eligible cost of construction in accordance with RSA 198:15-b, I(b)(3).
- (d) The amount of the annual grant to any charter school shall be a sum equal to 5 percent of the eligible grant amount each year for 20 years.
- (e) Approval for initial payment by the department shall be given upon receipt of a signed GAN.
- (f) Not more than 10 percent of the eligible grant amount shall be disbursed until the completion of the construction and verification of the final cost of construction have been made by the department.
- (g) The final building aid grant amount shall be calculated as the building aid rate multiplied by the eligible project costs, or the maximum amount of building aid award calculated in accordance with Ed 321.19, whichever is less.
- (h) Notice of completion shall be made within the deadlines provided in Ed 321.27.
Source. #8265, eff 1-22-05; ss by #10363, eff 6-15-13; ss by #10363, eff 6-15-13; ss by #13054, eff 6-12-20 (formerly Ed 321.28); ss by #14023, eff 7-12-24; ss by #14215, eff 3-14-25