Bronx Lighthouse Academy

New Markets Tax Credit Coalition

Bronx,
NY
(2011)

Bronx Lighthouse Academy

Community, Schools, Youth and Families

Through a partnership with JPMorgan Chase, LIIF provided Bronx Lighthouse Charter School NMTC financing to build a new high school in the South Bronx.

Investment

NMTC Amount: $14,065,000
Total Project Cost: $14,945,000

IMPACT

6 FTE jobs
73 construction jobs
30,000 sq. ft. of real estate

CDEs

Low Income Investment Fund

Investor

US Bank

Project Description

Through a partnership with JPMorgan Chase, LIIF provided Bronx Lighthouse Charter School (Bronx Lighthouse) with a NMTC allocation and a subordinate leverage loan to build a new high school in the South Bronx. JPMorgan Chase also provided a senior leverage loan to support the school. Bronx Lighthouse is a six-year-old, high-performing charter school operating in one of the poorest neighborhoods in New York City. The NMTC transaction will enable Bronx Lighthouse to build a new 30,000 sq. ft. high school campus, adjacent to the school’s current K-8th grade campus in the South Bronx. The school currently serves 460 students and will grow to 640 students upon completion of the new high school. Over 85% of its students are eligible for free or reduced-fee lunch. This transaction is part of a partnership with JPMorgan Chase to invest $30 million in high-performing charter schools.

MAP

Address: 1005 Intervale Avenue, Bronx, NY 10459

Census Tract: 36005012901

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