Project Description

Perspectives Charter School

8522 S. Lafayette Ave., Chicago, IL 60620

Total Project Costs: $32,488,339
Total NMTC Allocation: $8,500,000
SCORE Allocation: $8,254,784
Closing Date: December 2019

Distress Criteria:

  • Unemployment rate 2.19x national average
  • 64.94% of the area median family income

Community impacts:

  • 839 students will be served annually, 205 6-8th grade students and 634 9-12th students
  • 90% of total students are low-income and 100% are minority
  • 96% of students are expected to be accepted into post high school educational programs
  • Created 10 FTE Jobs paying between $24-39 per hour
  • 75 construction jobs created with average salary of $40.00 per hour

SCORE allocated $8.5MM of federal NMTC allocation and $8.25MM of IL State NMTC allocation to Perspectives Charter Schools (PCS) for the acquisition and refurbishment of a new campus building, to enable PCS to increase the number of students it serves, and create quality jobs. The outdated and ill-equipped PCS facility will be replaced with a new, state-of-the-art facility which can accommodate the demand for PCS’s services. The new facility will be equipped with specialized classrooms, computer labs, and science labs so that PCS can provide the resources needed to prepare students to graduate high school and succeed in post-secondary education or start their careers. PCS serves a student base that is 100% minority and 90% low income.

Community Alignment:

The Project is in alignment with the Auburn Gresham Quality of Life Plan 2016 (the “Plan”). The Plan emphasizes the need to improve the educational attainment of the community as a whole and specifically states the goal to “expand and maintain the innovative community school model throughout our schools that supports social-emotional development and encourages youth and family engagement in a safe and nurturing learning environment.” Further, the Plan emphasized the goal to “support traditional and nontraditional educational opportunities by creating learning opportunities that are responsive to the needs of all students.” Both of these goals are in direct correlation with the goals and strategies of PCS and the Project.