NYCRC-MANAGED ENTITY PROVIDES FUNDING FOR CONSTRUCTION OF SEVENTH CHARTER SCHOOL IN NEW YORK CITY
NEW YORK, April 4, 2024 /PRNewswire/ -- The New York City Regional Center is pleased to announce the closing of $15 million in New Market Tax Credit financing to assist the construction of a new 88,000 square foot charter school in the South Bronx. This is the seventh charter school that has utilized New Market Tax Credit funding from a New York City Regional Center-managed entity and the fifth in the Bronx. The new school will be home to approximately 1,145 students in Pre-K to 8th grade and be run by DREAM, one of the city's leading charter school networks.
- This is the seventh charter school that has utilized New Market Tax Credit funding from a New York City Regional Center-managed entity and the fifth in the Bronx.
- The new school will be home to approximately 1,145 students in Pre-K to 8th grade and be run by DREAM, one of the city's leading charter school networks.
- DREAM charter school network traces its beginnings to 1991, when a group of volunteers transformed an abandoned lot in East Harlem into two baseball diamonds for the neighborhood youth.
- Nearly half of DREAM alumni are first-generation college students and DREAM Charter High School has a 99% acceptance rate into college.