Search

San Jose, CA (2014)

Educare San Jose

ECSV is a collaborative project among 16 public institutions and private groups who provided financial support for an early childhood education facility

Investment

  • NMTC Amount: $14,267,223
  • Total Project Cost: $43,500,967

IMPACT

  • 114 FTE jobs
  • 150 construction jobs
  • 168 children served by the early childhood center.
  • 28,000 sq. ft. of real estate

Investor

Project Description

ECSV is a collaborative project among 16 public institutions and private groups who provided financial support, including FIRST 5 Santa Clara County, the Franklin-McKinley School District, East Side Union School District, the Santa Clara County Office of Education, the Health Trust, the Silicon Valley Leadership Group, and the David and Lucile Packard Foundation. Despite the generous support of private foundations, the project faced a funding gap, so in the summer of 2014, US Bank and Opportunity Fund turned to the NMTC to provide financing for construction of the new $14.8 million, 28,000 sq. ft. facility. This is the seventh Educare facility financed by the New Markets Tax Credit program nationwide, which has financed more than a thousand community facilities in low-income areas across the country, and the fifth Educare site that US Bank subsidiary US Bancorp Community Development Corporation has financed.

MAP

Address: 1399 Santee Drive, San Jose, CA 95122

Census Tract: 6085503110

Voices from the Community

“Opportunity Fund was thrilled to support the construction of Educare’s beautiful new facility, which provides early childhood education to 160 of the community’s most vulnerable children.”

-Jeff Wells, former Director of Opportunity Fund’s NMTC program

Related Projects

San Francisco, (2015)