Santa Fe South Schools, a fully accredited public charter school district with 2,400 students from Pre-K through 12th grades in south Oklahoma City, serves students from high-poverty environments who are primarily English language (second language) learners. The successful charter school achieves 94% graduation rates among its Hispanic students and overall graduation rates of 98%. The school plays a pivotal role in improving educational outcomes in south Oklahoma City but its current facilities have been at maximum capacity.
To help the school serve additional students, the Oklahoma Public School Resource Center (OPSRC) planned to repurpose a defunct department store in a transitioning local mall to house Santa Fe South's high school and provide additional space to accommodate two other charter schools. OPSRC received the help of the Walton Foundation in securing Charter Schools Development Corporation (CSDC) as the owner and operator.
NMR provided $10 million of New Markets Tax Credits to CSDC, which supplemented $1 million in foundation grants, $1 million of equity, and another $1 million loan invested by CSDC. CSDC was instrumental in procuring a leverage loan to complete the project.