Programs
Grove Park Academy Construction Project
THE ORGANIZATION'S SUPPORTED ENTITY, GROVE PARK FOUNDATION, INC. IS CONSTRUCTING A NEW SCHOOL BUILDING FOR WOODSON PARK ACADEMY, WHICH IS LOCATED WITHIN A CENSUS TRACT THAT IS ELIGIBLE FOR THE NEW MARKET TAX CREDIT ("NMTC") PROGRAM. IN OCTOBER 2019, GPF ENTERED INTO A SERIES OF AGREEMENTS AND TRANSACTIONS WITH A CERTIFIED COMMUNITY DEVELOPMENT ENTITY, ("CDE") AND AN INVESTMENT FUND AFFILIATED WITH A COMMERCIAL BANK. THE FOUNDATION FORMED GPF WOODSON PARK NMTC, INC. ("GP WP NMTC") TO FACILITATE THE TRANSACTION, BY ISSUANCE OF FOUR NOTES PAYABLE TOTALING TO $20,700,000 WITH AN INTEREST RATE OF 1.00% PAID ANNUALLY STARTING IN 2028. THE ORGANIZATION WILL CARRY DEBT AND HOLD TITLE TO REAL PROPERTY LOCATED AT 1605 DONALD LEE HOLLOWELL PARKWAY, NW ATLANTA, GA 30318. WHEN COMPLETED, THE ORGANIZATION WILL TRANSFER THE PROPERTY TO GROVE PARK FOUNDATION, INC.GeographiesNot indicatedDatesJan 1, 2024 – Dec 31, 2024Source990No causes providedNo populations provided–$1.7M
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