Atlanta charter schools to benefit from $250M in new Walton money

Atlanta charter schools will get a cut of $250 million the Walton Family Foundation plans to spend on buildings for charter schools.

Atlanta is one of 17 cities nationally targeted by the the foundation's Building Equity Initiative announced Tuesday.

This new program will help new and existing charter schools create and expand facilities. It will provide low-interest loans to not-for-profit lenders that will help finance the facilities.

"The Building Equity Initiative intends to level the capital and policy barriers that prevent charter schools from growing to meet demand from families and communities," Marc Sternberg, director of the foundation's K-12 education program, said in a written statement.

The Walton Family Foundation has long supported the growth of charter schools nationally and in Atlanta.

Previous Walton Family Foundation grants in Atlanta have helped fund the creation and growth of charter schools as well as the development of Atlanta Public Schools' plan to improve some low-performing schools by turning them over to charter school operators.