E.L. Haynes Public Charter School

Washington,
DC
(2010)

E.L. Haynes Public Charter School

Community, FQHCs, Healthcare, Schools

Financing for the construction of the 45,000 sq. ft. facility for E.L. Haynes

Investment

NMTC Amount: $12,700,000
Total Project Cost: $26,050,000

IMPACT

35 FTE jobs
130 construction jobs
Project includes a Federally Qualified Health Center.
45,000 sq. ft. of real estate

CDEs

PNC

Investor

PNC

Project Description

In 2008, BlueHub Capital, formerly known as Boston Community Capital, led a syndicate of lenders to finance the construction of the 45,000 sq. ft. facility for E. L. Haynes Public Charter School, a school that had previously housed all of its activity in various temporary sites. E. L. Hayes Public Charter School is open year-round and offers more than 1,000 education hours beyond the national requirements for schools through before and after-school programs, as well as intersession series.

The school is seeing results. In two years, there was a 21% gain in reading levels and a 37% gain in math scores. BlueHub Capital partnered with NCB Capital Impact, New Jersey Community Capital, The Reinvestment Fund, and Partners for the Common Good to make a $10.5 million New Markets Tax Credit leverage loan to E. L. Haynes. Head of School Jennie Niles remarks that the other lending institutions that she went to were just not up to the job. BlueHub Capital, she says, ‘saved the day.’

MAP

Address: 4501 Kansas Avenue Northwest, Washington, DC 20010

Census Tract: 11001002502

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