Academy for Global Citizenship
We helped unlock $42.5 million in NMTC financing for a new school campus bringing world-class education, community health services and urban agriculture to Chicago's Southwest Side.
Academy for Global Citizenship
NMTC for Projects
Chicago, IL
The Academy for Global Citizenship (AGC) is a single-site public charter school providing a dual-language International Baccalaureate curriculum to a student population that is over 90% minority and primarily disadvantaged. We helped secure and structure $28.7 million in leverage debt and construction-to-perm loans in addition to NMTC allocation to fund a transformative new 70,000-SF campus, including a Net Energy Positive school building, an early childhood center and a Federally Qualified Health Center. The school aims to use the building as a living laboratory and educational tool, which includes a 3-acre urban farm. The project also serves as the catalytic lead investment in a 40-acre redevelopment of the former LeClaire Courts public housing site.
Work Completed
Assisted AGC in structuring the project and assembling non-NMTC financing to complete the building
Assembled $42.5 million in NMTC allocation from four community development entities
Negotiated and obtained above-market NMTC equity pricing
Assisted with closing process execution to maximize efficiency
Provided post-closing support around compliance and other NMTC obligations
Results
Construction commenced in spring 2022 and the facility held its grand opening in fall 2023. SB Friedman worked closely with AGC to navigate a highly complex capital stack and rising construction costs due to the pandemic, ensuring the campus adequately addressed the needs of students and community members.
Testimonial
Sarah Elizabeth Ippel, Founder & Executive Director, Academy for Global Citizenship
“SB Friedman brought deep expertise and genuine partnership, helping us turn an ambitious vision for the first regenerative school campus in Illinois into a $63M reality. We would recommend them without hesitation to any mission-driven organization navigating high-stakes development finance.”
Featured Impact Numbers
3 acres
Urban farm operated by Urban Growers Collective
6.2 acres
Brownfield revitalization