KIPP Jacksonville Obligated Group
(2021 Equitable Facilities Fund Loan)
KIPP Jacksonville is part of the KIPP non-profit network of college-preparatory, public charter schools. The mission of KIPP is to prepare students from Jacksonville’s North and Westside communities with the knowledge, skills, habits, and character for success in college and life.
The financing will be used for the renovation of the School’s existing McDuff campus. The renovated campus will serve as the permanent home for the School’s newest KIPP Impact Academy. KIPP Impact Academy will sustain an enrollment up to 900 students in grades K-8.
The financing was structured as a “direct-purchase” taxable loan, with the School securing an investment grade ‘BBB-‘ rating from S&P. The loan was structured with a 35 year fully amortizing conventional fixed rate in the mid-3% range.
The financing successfully closed on schedule on October 15.