Financial ProductsTechnical Assistance LISC works with charter schools to structure financial transactions, analyze school operating budgets and create local partnerships. Through its local offices, LISC helps schools make linkages with local organizations, financial institutions and other community stakeholders. Recoverable GrantsRecoverable grants are used for predevelopment expenses, including architect fees, appraisals, environmental surveys and site feasability studies — costs that must be paid prior to acquisition or construction closing. Recoverable grants are interest free and repaid when a project receives financing. Loans  LISC offers charter schools financing for acquisition, construction, leasehold improvements and mini-perm uses. LISC can also provide financing in conjunction with other lenders. LISC will work with borrowers to find the best combination of financing sources for each project. GuaranteesLISC provides guarantees to charter schools for commercial bank loans, bond issuances and leasehold improvement loans. Guarantees provide additional security to lenders. New Markets Tax Credits LISC’s affiliate, the New Markets Support Corporation (NMSC), is the largest allocatee of federal New Markets Tax Credits (NMTCs). In 2011, NMSC received a $70 million NMTC allocation. NMTC financing provides qualifying charter schools with additional equity and reduces financing costs.
For more information, contact: Charlie Wolfson at cwolfson@lisc.org. 501 7th Avenue, 7th floor. New York, NY 10018. |
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