LIIF staff today headed to Hayward, California to take part in a site visit of Cherryland Early Learning Center, which is owned and operated by YMCA of the East Bay. In December 2021, LIIF provided a $9.5 million New Markets Tax Credit (NMTC) allocation to fund the cost to renovate an existing two-story 9,000-square-foot church into a child care facility comprising six classrooms (two preschool and four infant/toddler). All seats are Early Head Start or Head Start, and the facility provides year-round, full-day care for 80 children (ages 0-5), including 48 preschool and 32 infant/toddler.
Improvements included:
- Mechanical and electrical systems
- Envelope improvements and new roofing
- Dual-glazed doors and windows
- Fire alarm and sprinklers
- Fencing with pedestrian and vehicle gates
- Striping
- Landscaping and irrigation
- Paths and accessibility improvements
- Site lighting
- Outdoor playground
DYK: The New Markets Tax Credit (NMTC) program is a United States government initiative that encourages private investment in historically undercapitalized communities by giving investors a break on their federal taxes.
In December 2021, LIIF provided a $9.5 million New Markets Tax Credit (NMTC) allocation to fund the cost to renovate an existing two-story 9,000-square-foot church into a child care facility comprising six classrooms.