Charter School of the Dunes

New Markets Tax Credit Coalition

Gary,
IN
(2012)

Charter School of the Dunes

Community, Schools

Charter School of the Dunes constructed a new 50, 000 sq. ft. facility to house its expanding student population and better serve and educate low-income students in the Gary, Indiana area.

Investment

NMTC Amount: $12,805,000
Total Project Cost: $12,815,385

IMPACT

14 FTE jobs
36 construction jobs
50,000 sq. ft. of real estate

CDEs

National New Markets Fund

Investor

Chase

Voices from the Community

The NMTC allows schools serving low economic activity areas to construct safe facilities conducing to education, the commercial channels of financing would never allow a $14MM construction in an area where immediate post construction value would be under $10MM. With limited capital, we can serve students in areas where traditional public schools are failing. This program is the very definition of lifting up the nation by the bootstraps. We, the administrative staff, are willing to comply with any and all oversight and compliance required to make this possible for students in Gary, Indiana.

-Mahdee Iqbal, Director of Finance, Charter School of the Dunes, Gary, Indiana

Project Description

Charter School of the Dunes (CSOD) constructed a new 50, 000 sq. ft. facility to house its expanding student population and better serve and educate low-income students in the Gary, Indiana area. Its previous facility and new school site are located in the Miller neighborhood on the east side of Gary, a former industrial stronghold that has declined economically for decades. The new school was constructed using cutting-edge technology and incorporated a high number of green features. The school was designed to achieve LEED-Silver certification and provides additional environmental education opportunities for students.

MAP

Address: 7300 Melton Road, Gary, IN 46403

Census Tract: 18089010201

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