Cristo Rey St. Viator College Preparatory High School (CRSV) is part of the Cristo Rey Network (CRN)—37 independent Catholic high schools located across 22 states and the District of Columbia, committed to the education of America’s disadvantaged youth. CRN has 20+ years of experience serving students from economically disadvantaged communities and families, providing guidance and support to promote success through education. The CRN curriculum integrates four years of rigorous college preparatory academics with leadership, professional development, and work experience through its Corporate Work Study Program.
Clearinghouse CDFI provided an $8.6 million bridge loan and $2.9 million of Nevada State New Markets Tax Credits (NMTCs) for this $11.7 million project supporting the expansion of CRSV in North Las Vegas. CDE partners include Pacesetter CDE, AMCREF Community Capital, and Urban Action Community Development—each with $2.9 million of NV State NMTCs. U.S. Bancorp CDC facilitated the financing in combination with Stonehenge Capital, who purchased the Nevada State NMTCs.
Located in an area where unemployment is 2.57x the national average, CRSV will use the funds to increase employment by 67% over a 2-year period from 37 to 62 full-time equivalents. This boost in CRSV staff will allow the school to double its student enrollment to serve over 300 students, Freshman through Senior level.
Download the PDF: Just Funded by CCDFI – Cristo Rey St. Viator – 2021