Enterprise Bank & Trust announces the closing of a finance agreement that will support a $21 million construction project which is part of a $25 million philanthropic expansion campaign for Child Crisis Arizona.
The agency provides emergency shelter, foster care, adoption, counseling, early education, and parenting support services to Arizona’s most vulnerable children, youth and families.
Child Crisis will use the financing to construct a new 38,000-square-foot facility on recently acquired property adjacent to the organization’s current property in Mesa. This project aims to be one of the first fully sustainable nonprofit buildings in Arizona.
To facilitate this deal, Enterprise allocated $10 million of New Markets Tax Credits (NMTC) allocation, while the Phoenix Community Development & Investment Corporation’s (PCDIC) provided another $15 million. In addition to the allocation of the NMTC funds, Enterprise will provide source and direct loans.
The Fostering Bright Futures $25M philanthropic expansion campaign will culminate in building a 38,000 square foot Child and Family Wellness Campus that will accommodate the current and future growth of the agency.
The 2.4-acre parcel of land is strategically located between two existing key program facilities that is ready to house the new building. With an eye to the future, the new building will be environmentally friendly and include features for long-term sustainability and solar-powered functionality.
The new campus will house Child Crisis Arizona programs (Foster Care and Adoption, Counseling, Family Education, and more) and administrative staff. Additionally, the increased space will allow to expand offerings, many in collaboration with other local organizations, to provide services such as basic needs items distribution, food preparation for programs, medical screenings, therapeutic dance and art classes, job skills and mentoring for foster teens, and more. Partnerships with other local nonprofits will result in children, youth, and families receiving high quality wraparound services in one convenient location, reducing the burden of locating and traveling to multiple agencies to access the resources they need. The City of Mesa was recently found to be among the municipalities with the highest increase in childhood poverty. In the area surrounding the family services campus, nearly 40% of children under age five live in poverty. Child Crisis Arizona’s services to include partnerships with United Food Bank, Ballet Arizona, Free Arts for Abused Children & Big Brothers, Big Sisters.