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Location: Jacksonville, Florida
Loan Amount: $19.9 million
Savings Amount: $1.6 million
School Site: www.kippjax.org
Ratings Direct: KIPP Jacksonville
Obligor Summary: KIPP Jacksonville Obligor Summary
Founded in 2010, KIPP Jacksonville (KIPP Jax) serves 2,050 students in grades K-9 across four schools in Jacksonville, FL. The school’s mission is to prepare students from Jacksonville’s North and West side communities with the knowledge, skills, habits, and character for success in college and in life. The school was conceived when a group of community leaders came together to bring the KIPP model to Jacksonville. KIPP Jax is currently transitioning each of its existing schools to K-8 academies based on research that shows the positive impact of that model. KIPP Jax has earned recognition from the Florida Department of Education for promoting student growth and achievement in communities that are in severe need of quality education options.
EFF provided a $19.9 million loan to finance the land acquisition and construction of the network’s future Impact Academy campus, as well as finance renovations at their Bold City campus. The 35-year fixed-rate loan will produce over $1.6 million in savings compared to alternative financing options.