Chicago, IL (2022)

Academy for Global Citizenship

Investment

  • NMTC Amount: $35,000,000
  • Total Project Cost: $53,140,000

IMPACT

  • 100 FTE jobs
  • 100 construction jobs
  • 1,200 patients served
  • 71,000 sq. ft. of real estate

Investor

IFF closed a NMTC deal that provided K-8 public charter school Academy for Global Citizenship (AGC) with a $9 million allocation to offset costs

Project Description

IFF closed a NMTC deal that provided K-8 public charter school Academy for Global Citizenship (AGC) with a $9 million allocation to offset costs associated with the redevelopment of a six-acre site on the Southwest Side of Chicago to create a community wellness, learning, and sustainability hub. The $53.14 million campus (rendering featured above) will include a 71,000 sq. ft. facility that will enable AGC to bring its operations under one roof, an early childhood education center, a federally qualified health center, and a community produce market and café. The campus will also feature an urban farm with 12 hoop houses, a production greenhouse, and a learning barn with rescued livestock; a facility for AGC to host educator training; natural play areas, educational wetlands, and orchards; and parking for electric cars and bicycles. Sustainability is a major focus of the project, and the campus will achieve net-positive energy and water once completed by using 50 geothermal wells, 500 kW of solar panels, rain capture, natural water purification, and water recycling. The project will create 32 new K-8 seats for AGC students, the majority of whom are low-income and 91 percent of whom are Hispanic; create 120 ECE seats; provide access to quality health care and behavioral services to more than 1,200 people annually; and facilitate year-round, hands-on nutrition education via the urban farm and teaching kitchens. Additional NMTCs for the project are being allocated by BMO New Markets Fund, Rose Urban Green, Dudley Ventures, and the National Development Council, with US Bank serving as the equity investor. Other funding sources for the project include an Illinois state capital grant, private grant funding, and borrower equity.

MAP

4647 West 47th Street, Chicago, IL 60632

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