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NEW YORK CHILD CARE SEED FUND
OVERVIEW
New York City faces a chronic shortage of quality child care that is affordable to low-income families. New York’s high cost real estate market poses significant barriers to child care operators seeking to remedy this shortfall through expanded services. In addition, as most operators lease rather than own their facilities, existing services are often jeopardized by rent escalation or the loss of community space to development. Child care providers also often lack the capacity to independently undertake development projects, and are more likely to be first-time or inexperienced borrowers unable to access financing from lending institutions.
The New York Child Care Seed Fund (Seed Fund) addresses these issues by offering loans and training and project consultation (as listed below) for child care center providers who wish to expand, preserve or enhance their child care facilities.
To complement these products and services, LIIF is working with City and private partners to build a sustainable system that ensures a supply of quality facilities to meet the long-term care and education needs of all of New York’s youngest children. The program reached a milestone with its first direct New York City contract at the level of $200,000 to provide short-term facilities financing consulting services to the City's key children's agency, the Administration for Children’s Services (ACS). Achieving this milestone required extensive interaction with the offices of the City Council Speaker, the Deputy Mayor for Health and Human Services and the leadership of ACS.IMPACT
Since LIIF launched the Seed Fund in 2003, the Initiative has supported 3,300 child care spaces by offering:
- trainings and workshops on the development and financing of child care center facilities to over 200 providers;
- one-on-one technical assistance to 15 child care providers; and
- 23 planning grants totaling $358,000 to community-based organizations.
PROJECTS
To view some examples of projects, please go to the New York Child Care Seed Fund PROJECTS page.
ADVISORY BOARD
The Seed Fund's ADVISORY BOARD provides oversight and support to enrich the effectiveness of its programmatic work.
CONTACT
Claudia Siegman
Program Manager, New York Child
Care Seed Fund
350 Broadway, Suite 701
New York, NY 10013
Tel (212) 509-5509, ext. 16
Fax (212) 509-5593
csiegman@liifund.org