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Location: Austin, Texas
Loan Amount: $29.7 Million
Savings Amount: $7.9 Million
School Site: www.austinachieve.org
Ratings Direct: Austin Achieve Public Schools
Obligor Summary: Austin Achieve Public Schools Obligor Summary
Founded in 2011, Austin Achieve Public Schools (“AAPS”) serves 2,187 students in grades PK-12 in Austin, Texas. AAPS believes that all students, regardless of socioeconomic status, should receive an excellent education and is on a mission to prepare the youth of East Austin to excel at the nation’s top colleges and universities. The schools curriculum promotes college readiness through key principles including academic rigor, digital literacy, emotional intelligence and extracurricular involvement. AAPS has developed an excellent reputation for serving the East Austin community and a student population that predominantly identifies as Hispanic and comes from low-income families.
EFF provided a $29.7 million loan to refinance bonds used in connection for the acquisition, construction and renovation of AAPS’s elementary and middle school facilities, which combined created 1,680 seats to serve Austin’s families. The 30-year fixed-rate loan will produce over $7.9 million in savings compared to alternative financing options.
"The entire EFF team was awesome to work with every step of the way! I also appreciate that they have such a keen interest in offering more competitive interest rates so that schools can put more dollars into classrooms in service of the communities they serve."
**-John Armbrust, Founder and Chief Executive Officer, Austin Achieve Public Schools **