U.S. Senator Sherrod Brown today visited the construction site of The Childhood League Center’s new location near downtown Columbus, and highlighted the importance of the New Markets Tax Credit (NMTC) program, which made financing for the project possible. The NMTC program incentivizes private investments into highly distressed, low-income communities.
A long-time supporter of the NMTC program, Senator Brown helped secure a five-year extension in December 2015 and noted that “we eventually need to make it permanent.”
Finance Fund provided federal and state NMTC allocation that attracted private investment from Capital One needed to close the financing gap to bring the project to fruition.
“The New Markets Tax Credit facilitates these sorts of public-private partnerships. This is exactly what we need to encourage economic growth — leveraging private capital to create jobs, invest in communities, and lift up our most vulnerable children,” said Senator Brown. “I look forward to seeing what a difference The Center will continue to make in this community.”
The Childhood League Center provides evidence-based programs, interventions and therapies to about 450 children under age six who have developmental delays or are at-risk of being left behind in school. The new facility adds four new classrooms to serve an additional 100 children at the facility as well as many more students in the larger community. It is expected to open in January 2017 – but for those on The Center’s waiting list and those already enrolled, January can’t come soon enough.
Amid the buzz of saws and grind of power equipment, Senator Brown toured the new facility alongside The Center’s Executive Director Ginger Young and me, flanked by central Ohio media. We saw vaulting ceilings, wide hallways and doors open onto state-of-the art learning and developmental play spaces. Some of the facilities are new from the ground up, and others make adaptive re-use of historic Civil War-era buildings at the Fort Hayes Education Center.
All classrooms feature large windows and outdoor learning patios designed to spark creativity and curiosity. Other features include an indoor gym, one-of-a-kind outdoor playscape, a nurse’s station, quiet rooms, a children’s library, sensory garden and observation nooks for teachers, parents and therapists. The project has created 72 construction jobs and will retain 49 current staff positions and add 18 new jobs.
We discussed the tremendous immediate and long-range returns on investment made possible by the new facility.
“This building is critical to our success,” Ginger said. “I am grateful to both Finance Fund and Senator Brown for believing in the mission of The Childhood League Center and understanding that investment in this project means more children and families will have access to life-changing interventions. This will affect our future educational systems and workforce, and we look forward to showing you the return on this investment.”
This project is very dear to all of us at Finance Fund and is a great example of what New Markets is all about — providing needed services to highly-distressed communities, creating jobs and incentivizing private investment in hard-to-fund-projects. We thank Senator Brown for his ongoing support of the New Markets Tax Credit program and this highly impactful project.
To learn more about the NMTC program, please visit our website