ASPIRA Arts DECO Charter School

ASPIRA ArtsDeco Exterior

SOUTH REGION
TOTAL PROJECT $8.9 million
FCLF NMTC ALLOCATION $8.85 million
QLICI $8.4 MILLION
96 Temporary Construction jobs
77 Permanent Jobs

 

 

"Kindly accept my sincere thanks from the ASPIRA Family. I believe that this great job that we did together will help not only our children but the community as a whole." – George Cabrera, President/CEO, ASPIRA Florida

 

ASPIRA of Florida is a non-profit organization operating charter schools, after-school programs, and community outreach programs in South Florida, with an emphasis on education of Latino and other minority youth. The ASPIRA Arts DECO School - formerly named the Eugenio Maria de Hostos school  - serves primarily low-income children, with 96% of its students Title I qualified.

With financing through the New Markets Tax Credit (NMTC) Program, ASPIRA is building a new home for the middle school in the Wynwood area of Miami, a few miles north of downtown. The new location will introduce the middle school's new name - ASPIRA Arts DECO School - and the expansion will allow it to increase the student body from 500 to 800 students. The renovation will add new classrooms, including music and art departments,. A new food service area will add a cafetorium to seat at least 275 students at a time. 

The project, the 2nd for ASPIRA of Florida and FCLF, was made possible through the NMTC Program. Funding utilizing both federal and state tax credits was provided through a partnership with Fifth Third Bank, Stonehenge Capital, and U.S. Bancorp Community Development Corporation. Florida Community Loan Fund provided $8.85 million in NMTC allocation.

INVESTOR: U.S. Bancorp Community Development Corporation
LENDER: Fifth Third Bank
ADDITIONAL NMTCs: Stonehenge Capital
This transaction was finalized in October 2011.

www.aspirafl.org

To view more photos, visit FCLF's Flickr page.

ASIRA EMH Charter School students   ASPIRA EMH Charter School students,

 

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