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Article: Excellent Education Development Receives $50 Million Tax Credit From U.S. Treasury Department.
- Article from:
- Business Wire
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Largest Allocation to Date Will Boost Financing Efforts for Charter Schools in Low-Income Areas of Los Angeles
LOS ANGELES -- The U.S. Treasury Department has awarded Excellent Education Development (ExED) with a $50 million allocation of New Markets Tax Credits (NMTCs), which will be used to support high-performing charter schools in Los Angeles. This is ExED's third NMTC allocation and the largest to date, reflecting the success of the organization's past efforts to transform schools in the most underserved regions of Los Angeles.
The recent $50 million allocation will allow ExED to continue offering low-interest rate loans to build and improve ...