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Local Initiatives Support Corporation:
Public charter schools have not only proven to be a critical factor in helping inner-city students access better education, but they have also acted as a stabilizing effect on their surrounding neighborhoods.
An active school that connects with its neighborhood can bolster pride in its residents, strengthen and maintain its population, provide a safe place to offer health and community services and ultimately act as a beacon, attracting further housing and business investment and development.
Since making its first charter school grant in 1997, LISC has approved almost $60 million in financing to support 80 charter schools across the country with another 60 in the development pipeline.
Nowhere is this commitment more evident than in Los Angeles, where in 1999, Los Angeles LISC made a $10,000 predevelopment grant to Pueblo Nuevo Development (PND), the beginning of $4.5 million in overall support to PND for its schools and an early childhood education center now under construction.
The first of these was the Camino Nuevo Charter Academy (CNCA) Burlington Elementary School, located in the MacArthur Park / Westlake community.
Working with PND and ExED, Los Angeles LISC and LISC's Educational Facility Financing Center were also instrumental in securing and financing a new facility for the Camino Nuevo High School, which began operation in 2004 in a temporary location and moved to its new facility in November 2006.
Posted on April 5, 2007 11:05 PM
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