Charter Schools
Why LISC?
Access to good public education is a critical foundation for
a healthy neighborhood, yet attaining sufficient facilities stands as the
biggest hurdle for public charter and alternative schools.
LISC understands that locating
charter schools within
Available Resources
The Indianapolis Charter School Facilities Fund
- Administered by the Indianapolis Local Public Improvement Bond Bank
- Result of partnership among the City of
- Lower interest rates because of backing of the city and the $2 million in guarantees provided by AECF and LISC
- Maximum loan per transaction $750,000
Recoverable Grants
- Where feasible, for design, remediation, & engineering studies
- Also for early-stage expenses relating to securing a site (architectural/engineering plans, environmental review, title work, purchase option/deposits, etc.)
Technical Assistance
- Application assistance to the Facilities Fund in conjunction with the Bond Bank
- Individual deal structuring
- Creation and finalization of pre-development budgets, project budgets and operating pro formas
- Identification and finalization of development team, including architects, lenders and construction management companies
- Identification of potential partners, such as CDCs and other institutions, as additional resources and investors for projects where appropriate
- Evaluation of sites and site plans
- Environmental remediation assistance (LISC can provide brownfield remediation grants)
For more information contact Aaron Laramore.
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(Above) The 21st Century Charter School was one of four charter schools selected by the Mayor of Indianapolis to begin operating in the fall of 2002. A revolving bridge loan from LISC was used to fund a portion of the first semester.