The state Department of Education and a national nonprofit are rolling out a $30 million fund to help grow high-performing charter schools in Florida.

The fund will award grants to top charter schools that serve low-income students.

The first finalist: Youth Co-Op Charter School, a small school in Hialeah Gardens that has received eight consecutive A grades from the state. The school could win as much as $3 million to expand or open a new school.

“This would make all of our dreams come true,” Principal Maritza Aragón said.

The competition, to be announced Tuesday at a state charter school conference in Orlando, is a joint effort between the Florida Department of Education and the Charter School Growth Fund, a Colorado-based nonprofit that supports high-quality charter schools.

The state is kicking in $20 million of the $700 million it won through Race to the Top, the White House initiative to spur education reform. The Charter School Growth Fund has pledged to raise an additional $10 million privately.

“There is an incredible demand for high-quality educational options in Florida, particularly in our low-income communities,” state Education Commissioner Gerard Robinson said. “These ground-breaking public-private partnerships will help spur the growth of top quality charter schools in our state’s K-12 school system.”

Charter schools throughout Florida have the opportunity to self-nominate. Winners will be announced on a rolling basis.

To be eligible for a grant, charter schools must be financially sound and serve mostly low-income children. Only top performers will be considered.

“Our focus is on excellence,” said Charter School Growth Fund CEO Kevin Hall. “We want to help the very best to grow and serve more students.”

Youth Co-Op, a K-8 that has operated in Hialeah Gardens since 1998, enrolls about 525 students.

“They’ve done a nice job over the past few years of outperforming students at demographically similar schools around the country,” Hall said. “It’s quite promising.”

Aragón, the principal, said the grant money would help Youth Co-Op build a high school, which could open as early as next year.

“This is something we’ve wanted to do for many years, but we didn’t have the financial resources,” she said.

Youth Co-Op is also looking to open charter schools in other South Florida neighborhoods.

“We believe in our model,” Aragón said. “This is something we can replicate in other areas that need our services.”