34 CFR §226.21

1. (a)Charter schools that receive grant funds through their State must use the funds for facilities. Except as provided in paragraph (b) of this section, allowable expenditures include:
   1. (1)Rent.
   2. (2)Purchase of building or land.
   3. (3)Construction.
   4. (4)Renovation of an existing school facility.
   5. (5)Leasehold improvements.
   6. (6)Debt service on a school facility.
2. (b)Charter schools may not use these grant funds for purchasing land when they have no immediate plans to construct a building on that land.