Bold Charter School (Bold) is a leading K-7 public charter school in the Bronx. By pairing rigorous academics with strong family partnerships and a culture of growth, Bold equips hundreds of South Bronx students each year with tools to thrive. NFF, alongside CIP and LISC, is contributing a $3 million source loan to a $24.6 million New Markets Tax Credit transaction to fund Bold’s new K-8 charter school, with Civic Builders overseeing construction. With this financing, NFF is supporting Bold’s expansion into a new permanent home that will welcome 700 students – more than 300 new seats for South Bronx families. The new building will house 27 classrooms, small breakout rooms, science labs, art and music rooms, a cafeteria, gymnasium and administrative offices, providing Bold with the permanent space it needs to continue serving its growing student body.
This project proudly marks NFF’s inaugural transaction utilizing funds through NY Green Bank’s Community Decarbonization Fund, which expands access to financing for emissions-reducing projects that benefit underserved communities in New York State. NFF’s loan participation is also backed by a U.S. Department of Education credit enhancement, which gives us the opportunity to provide loans to early stage, single- or multiple-site charter schools for acquisition and construction.