Healthy Community Education Partners

Hcep acquires land in low-income communities in jackson, Tennessee and madison county, Tennessee, on which it will construct one or more buildings to be leased on favorable terms to jackson-madison county school district for the operation of public schools. Hcep will acquire the land from the jackson Community redevelopment authority under a long-term ground lease for no cost. It will finance the construction of the buildings from a traditional construction loan and through new markets tax credit financing on non-traditional terms. The new markets tax credit financing will enable hcep to lease the buildings to the school district on below market terms, thereby further its purpose to lessen the burdens of government to provide educational opportunities to residents of areas designated as slums or blighted areas by the jackson Community redevelopment authority.