Schools Chancellor Carmen Fariña made the announcement yesterday, noting that the diversion of funds "will help us create high-quality, full-day pre-Kindergarten seats citywide that will deliver strong instruction"; the DOE also hopes to reduce class sizes citywide.
The move is a big one one for the de Blasio administration, as the mayor has been openly critical of charter schools, which notably expanded under Mayor Bloomberg. While campaigning this summer he announced plans to place a moratorium on the schools. The slashed funds will only affect schools that need the funding in the 2015-2019 fiscal year, and will not impact current charter school projects. "These are important steps that will dramatically improve educational outcomes for our students," Fariña said yesterday.