IFF loan gives St. Louis charter school space to construct kindergarten center October 1, 2014

Renovating a vacant rectory next to its charter school will allow Carondelet Leadership Academy to build a kindergarten center and add more classroom space for 55 new students. As part of the $764,000 project, the charter school also will expand its education, art, and music programs.

IFF is providing a $725,800 loan to the school, which has 405 students in grades K-8. In 2010, IFF financed $1.28 million in loans to Carondelet Leadershp Academy, including a $250,000 loan to bridge State Historic Tax Credits. The previous loan paid for leasehold improvements, furniture, computers and technology, and a phone system.

The property is located in a neighborhood ranked No. 5 out of 15 high-need areas identified in IFF’s report, Public School in St. Louis; Place, Performance, and Promise. The school was named in the report as an important part of meeting the acute need for quality education in south St. Louis.

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