SCORE grants $10MM to open new Chicago charter school

Southside Community Optimal Redevelopment Enterprise (SCORE) is proud to award $10 million in New Markets Tax Credit (NMTC) allocation to Nobel Charter School for development of a new high school in Chicago’s economically challenged Back of the Yards Brighton Park neighborhood.  The new school will generate 100 temporary construction jobs, 70 full-time direct jobs, and 171 indirect jobs.

The Noble Network of Charter Schools is Chicago’s largest and highest performing network of public high schools, providing a non-selective, open enrollment education in some of Chicago’s highest need communities. Serving a student population that is 89% low income and 98% minority, there are no testing requirements for enrollment at any of Noble’s campuses and more than 90 percent of Noble graduates matriculated to college last year.

SCORE’s mission is to invest NMTCs in operating business, community driven education and healthcare facilities, and fresh food anchored retail that will provide living wage jobs in highly distressed and low-income communities. Sponsored by McCaffery Interests, SCORE aligns with the company’s founding mission to transform urban neighborhoods in ways that inspire community, create opportunity and foster the ideals of smart growth. Over the past 5 years, McCaffery Interests has invested $153 million and facilitated an additional $345.8 million of improvements into urban revitalization efforts. More than 70% of these projects have been in disadvantaged communities.