LIIF to Use $5 Million to Green Preschools
Across California, early care and education
programs will use less energy and save money
through free services provided by LIIF's
California Preschool Energy Efficiency Program
(CPEEP).
The three-year-old program will use $5 million
in renewed funding from PG&E and Southern
California Edison to green child care centers
across the state. Since its launch in 2005,
CPEEP has given grants to 640 centers, which
serve a total of 50,000 kids and family members
in California. The centers now save an estimated
30% on their utility costs and have reduced
their energy usage by 60% as a result of the
energy efficiency retrofits from CPEEP grants.
LIIF Delivers $19 Million to Nationally
Recognized Schools
Two Newark, New Jersey middle school campuses
are getting much needed renovations thanks to
$19 million in New Markets
Tax Credit financing announced by
LIIF for
North Star Academy Charter
School, a member of the
Uncommon Schools
network. Michael Ambriz, COO of North Star
Academy noted, “Though the great work of LIIF,
North Star will now be able to further its goals
to serve even more students in Newark. In a
tough economic climate where operational funding
remains a challenge, we are incredibly thankful
for LIIF’s involvement in this facilities
transaction.” LIIF led the loan with a coalition
of partners including The Reinvestment Fund.
U.S. Bancorp provided $6.5 million in equity to
the transaction.
Edward Condon Joins as Head of
Child Care Programs
LIIF is pleased to introduce its new Managing
Director, National Child Care Programs, Edward
Condon. Edward will oversee LIIF’s national
child care strategy, programs and policy
efforts. He has over 20 years of experience in
the child care sector, most recently as
Executive Director for the California Head Start
Association. Since inception, LIIF’s child care
programs have provided $52 million in capital
and technical assistance through the
Child Care Facilities Fund,
New York Child Care Seed
Fund,
Affordable Buildings for
Children’s Development Fund
and
California Preschool
Energy Efficiency Program.
LIIF Policy Impact: CDFI Fund and Child
Care Facilities
In addition to providing capital and technical
assistance, LIIF works to give low income
communities a voice in the public sphere. In
March,
LIIF issued a statement
applauding Congress' support for undeserved
communities by increasing funding for the CDFI
Fund by 14% in its 2009 omnibus spending bill.
The president proposes a
doubling of the CDFI
Fund’s resources in his 2010
budget. The
economic stimulus
legislation signed by the president
in February also included support for the
community development finance industry by
providing an additional $100 million in
appropriations for the CDFI Fund and an
additional $3 billion for New Markets Tax Credit
allocations.
LIIF is working to fill the gap in funding
for high quality, healthy early care and
education spaces. As part of the
National Children’s
Facilities Network (NCFN),
 LIIF
worked with New York Congresswoman Carolyn
McCarthy to draft the
Child Care Facilities
Financing Act of 2009 (H.R. 1685),
legislation that creates a capital fund for
child care facilities nationwide. (Image:
LIIF staff and NCFN members with
Congresswoman McCarthy)
In California, LIIF has partnered with
Assemblyman Tom Torlakson on
A.B. 932,
legislation that helps early care and education
providers access dollars for child care
facilities. These two pieces of legislation are
critical tools to meet the demand for quality
preschool and child care spaces.
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