Charter School Facility Financing Case Studies
A national leader in the field, ExED’s pioneering facility financing has led to the development of dozens of new and renovated school buildings that serve thousands of students. And we have strong relationships with a host of financial partners, including major banks ready to lend.
Alliance Ouchi High School & O’Donovan Middle School
Alliance Ouchi High School & O’Donovan Middle School are co-located schools in the Hyde Park neighborhood of South Los Angeles. Operated by Alliance College-Ready Public Schools, both sites use the innovative BLAST education model, which provides each student with a laptop computer to help prepare them for success in college and future careers. Serving a combined 900 students, the new educational complex was constructed in 2009 with financing provided by ExED.
Camino Nuevo Charter Academy
Founded in 2000, Camino Nuevo Charter Academy serves more than 1,500 low-income students in preschool through high school. Its flagship campus, the state-of-the-art Camino Nuevo Charter Academy High School in MacArthur Park, was constructed on the site of a former ice cream factory in 2006, thanks in part to an $8 million loan provided by ExED.
El Sol Science & Arts Academy
Located in one of the largest Spanish-speaking communities in Southern California, El Sol Science and Arts Academy is a dual-immersion charter school in Santa Ana. Founded in 2001, El Sol serves over 850 students in preschool through eighth grade, and has become one of the best-performing schools in the area. In 2013, ExED helped provide $7.2 million in financing to help El Sol construct a new school building.
Equitas Academy Charter School serves L.A.’s heavily Latino Pico-Union neighborhood, providing a K-5 education that emphasizes high expectations, college readiness, family partnerships, and the maintenance of a safe and supportive school community. ExED helped Equitas secure $4.27 million in New Markets Tax Credits financing to remodel its building and nearly double the school’s capacity to 450 students.
Fenton Avenue Charter School
Fenton Avenue Charter School, in L.A.’s Pacoima neighborhood, was one of the first charter schools in California. More than 20 years ago, at the initiation of teachers, Fenton pioneered the conversion of a traditional LAUSD school into an independent charter school. Since then, Fenton has grown to three campuses serving over 2,300 students. To accommodate a long wait list, ExED used $14.1 million of its NMTC allocation to finance construction of a new home for Fenton Primary Center, providing 800 new seats serving K-3 students. The beautiful new building opened in September 2013.
KIPP LA Prep
KIPP LA Prep is one of the best-performing public middle schools in Los Angeles, serving 470 students in grades five through eight. Its home is a former tortilla factory in the Boyle Heights neighborhood converted into a modern school facility, thanks to a $2.75 million loan from ExED.
Watts Learning Center
Watts Learning Center serves public school students in one of the most disadvantaged neighborhoods of Los Angeles. For many families, the Watts Learning Center is their first positive experience in the public education system. ExED helped finance construction of a striking new building, along with renovations of an existing facility, to serve 360 elementary students.