Facilities for Children
ABCD Initiative by Noni Ramos, Low Income
goal of the Affordable Buildings for Child Development (ABCD) Initiative
is to build a comprehensive and sustainable financing system for high-quality
child care facility development with the objective of creating 15,000
spaces in five years with a particular focus on low-income communities.
However, experience has shown that it takes more than just funding
to meet the demand for affordable and high-quality childcare facilities.
That is why the ABCD initiative utilizes the expertise and capacity
of existing community organizations, while employing four interrelated
ABCD Fund – Provides technical
assistance, grants and loans for child care centers, feasibility planning,
acquisition, and construction costs, and long-term real estate financing
ABCD Development Assistance – Utilizes
the expertise of regional community developers to increase statewide
the construction of child care facilities within educational, health,
and housing facilities. Partners include Bridge Housing, Los Angeles
Community Design Center (LACDC), Mercy Housing California and Child Development,
ABCD Constructing Connections – Strengthens
the facilities development expertise of child care center operators and
intermediaries, and improves the regulatory and funding environment to
support child care facilities as a priority.
ABCD Campaign to Sustain Child Care – Brings
together new coalitions of representatives of a variety of sectors to
advocate for increased child care program operating subsidies from state
and local governments.
Read The Next Stage in Childcare Facilities
Development to learn more about this four-pronged strategy.
Charter Schools by Susan Harper, Low Income
Financing of charter schools is a way for banks to assist the
public school system. Many charter schools open in low- and moderate-income
communities and are created on derelict or long neglected property making
them a catalyst for revitalization and stabilization, an activity that
is supported by CRA.
In Funding Our Future: Charter School Finance
101, Susan Harper, the program manager of the California Charter
School Program at the Low Income Investment Fund www.liifund.org (LIIF)
writes about the financing needs of charter school, including a discussion
of traditional financing for school facilities, and the critical need
for cash flow financing of budget shortages that occur due to mid-year
school funding disbursements by school districts.