rosie Office of innovation and incubation Schools Education Options « innavative Models» New Schoo Joly 7, 2015 Aopiconts, (Chicago Public Schoo's (CPS) faces @ well known financial criss. This week we used borrowed money to complete our $434 milion pension payment. The consequences of making that ‘payment wil be felt throughout our district. The Office of innovation and incubation (1&l) would: like 10 provide o few updates ond outine the impact cn the New Schools Request for Proposats RFP) process Start-Up, Incubation, and Expansion Funding CPS announced cuts to administration. personnel, and programs to help adress the significant shodall in the FY 16 budget, Al lunding fer incubation, starlup, ond expansion funding for new schools. including ony schoo’. epproved this fal os port ol the RFP oppiication cycle. eliminated @s part of the curen! RFP application cycie. We wanted to make you cwore of this change in new schaol funcing as soon as possible to. ‘ensure your team has sufficient lime to react and determine how you would ike to proceedin this yeor’s opplcaion cycle. Please expect @ phone collin the next lew days to discuss the potential impact to your oppiicotion and anewer any additional questions you may hove, Action tems + Ifyour team betieves that the toss of this funding jeopordizes yaw abily to successfuly open o new chatter school please let Us know if you inlend to wilhrow your enpication. Yow brovoudy stir. wtoched Groat x toor er bowie Fo hol your Worn on ‘make the oppropriate updates. The Comprehensive Evaivation Teams and Nelgntomood Aaviory Counc INACS] witrevew neve updated budgets os pat of Updated NAC Timeline Allachod's on updated NAC timeline, The dates for NAC and community outreach events ‘criginaly included in the 2014 New Schoo’ RFP fimeine (pp. 13:14) no-longer reflect the most up-to-date timeline. fo that end, we have atte atleched on oficial Addendum to the 2014 New Schools RFP to ensuxe that all process documentation is consistent. We pian to post this ‘Adclendum to the RFP website nex! week (cps.edu/2014RFP), Action item The dates for the NAC Copacily Inteniows have changed trom the week of July 20" [os criginatly ingicoted in the 2014 New Schcals RFP timeline) to the week of August 3" ‘2nic# otirnovaton and incvection« tok J Buoy 2. Ciel Offcer ‘2 Wes Moxtion Seat 9" Boot» CINCOga: I xOMGH « Phone: TF SSY 1590 «Rox 772-859.2028 Rarmmininatian ta DER Annlinants 7-7 46 welt