Oakland, Calif., Charter School Leverages NMTCs for New Campus

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The March issue of the Novogradac Journal of Tax Credits features LIIF’s investment in a new charter school in Oakland, CA. Founded in 2010, Vincent Academy offers a high-quality academic curriculum to low income children in West Oakland. A loan from LIIF, together with a New Markets Tax Credit allocation from BRIDGE Housing (BRIDGE), an equity investment by Chase Bank and capital campaign proceeds, will finance Vincent Academy’s new 21,000-square-foot school.

Through a unique partnership, Vincent Academy and BRIDGE are cultivating a shared vision to create neighborhoods of opportunity where families have access to quality schools, housing and services. The new facility will be located adjacent to an existing BRIDGE affordable housing development in an effort to link essential community resources.

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Source: Novogradac Journal of Tax Credits