Loan Type: Acquisition/Construction - Charter School
Total Development Cost: $3,089,471
Times leveraged: 3.09x
Loan at a Glance:
Partners provided $1 million of a $2.75 million loan with Rural Community Assistance Corporation (RCAC). This loan will enable Long Valley Charter School (LVCS) to purchase and renovate the Doyle school campus that it has been leasing since 2010. The USDA approved a $252,000 grant to facilitate this project and a $2.725 million permanent loan to refinance the project upon completion. Funding will ensure that the necessary improvements can be made to better serve the school’s students and the surrounding community.
Borrower Summary:
LVCS operates two schools in Lassen County, CA: Long Valley Charter School Doyle and Thompson Peak Charter School. Founded in 2000, LVCS provides K-12 education through both classroom-based and independent study programs. Their mission is to equip students with the knowledge and skills needed to be successful, responsible, and intelligent participants in a global society.
Project Summary:
The project involves the acquisition and renovation of the Doyle school campus. Renovations will include updating classroom spaces, bathrooms, and adding a full-size gymnasium for indoor recess and participation in local sports leagues.
Loan Result:
The acquisition and renovation of the Doyle campus will allow LVCS to expand its classroom spaces, meeting the growing demand for their educational programs. This project will prevent the campus from falling into disrepair and provide a much-needed upgrade to the facilities, benefiting the local community. Additionally, the renovations will ensure that the school meets ADA compliance standards, improving accessibility for all students.
Impact Highlights:
Woman Owned or Controlled, Education Equity, Serving People with Disabilities