ACE PREPARATORY ACADEMY CHARTER SCHOOL ADDS VIABLE EDUCATION OPTION TO NORTHEAST CORRIDOR

ACE PREPARATORY ACADEMY CHARTER SCHOOL ADDS VIABLE EDUCATION OPTION TO NORTHEAST CORRIDOR

Indianapolis, Ind. –BES-Indy LLC, a special purpose entity of Charter School Support Services, a national nonprofit developer, recently closed on construction financing from LISC and IFF to finance the development of a facility located at 5326 Hillside Avenue which will be leased to a new K-5 charter elementary school, ACE Preparatory Academy (“ACE Prep”). The start-up school is founded by Anna Shults, who has with an exceptional background in education and is currently completing her final year of the Building Excellent Schools fellowship, a highly-regarded leadership program that trains participants on how to launch successful urban charter schools. ACE Prep is scheduled to open in the fall of 2016 and will serve a total of 432 students at full enrollment.

Designed with an extended school day and slightly longer school year, and with a focus on developing strong skills in literacy and numeracy, ACE Prep will provide an academically rigorous curriculum that pushes students to engage deeply with text and to think critically about their learning in all content areas. The school’s program will focus heavily on college preparation and its model is uniquely designed for and specifically driven by neighborhood needs within the Northeast community which comprises the core of the 46220 zip code.

“ACE Prep will provide a quality educational option for many Northeast Corridor students” said Bill Taft, Executive Director for LISC Indianapolis. “This school will help meet the Northeast Corridor’s goal of empowering more neighborhood youth to achieve post-secondary education. This outcome begins with positive and enriching early education experiences.”

The school site will be located in a LISC Indianapolis Quality of Life Plan community called the Northeast Corridor. Quality of Life Plan implementation is being led by United Northeast CDC and is bolstered by nearly 20 other local organizations (including one large charter school network, KIPP), to improve educational, employment and housing options for local residents. LISC Indianapolis is an active participant in the Northeast Corridor’s revitalization and is supportive of ACE Prep’s launch.

“We are wholeheartedly committed to the students and families within the Northeast Corridor and have spent the last 18 months collaborating with mission-aligned organizations, establishing local business partners, and conducting outreach events to build our roots as a neighborhood school,” said Anna Shults, Founder & Head of School, ACE Preparatory Academy. “We recognize the importance of a solid foundation in the early grade levels and have designed our school around a mission that is focused on rigorous academics, positive character development and excellence in everything we do.”

BES-Indy, a special purpose entity of Charter School Support, secured $3 million in total financing from LISC and IFF to develop ACE Prep. The LISC and IFF loans will be used to renovate an older commercial building into a school with 15 classrooms, library, four offices, a kitchen and kitchenette, an elevator, a teacher’s lounge and a teacher’s workroom. Renovations started in December 2015 and are expected to take place over 20 months. ACE Prep has entered into a 10-year lease with BES-Indy.

For more information about ACE Prep Academy, please visit http://aceprepacademy.org.

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Local Initiatives Support Corporation (LISC) Indianapolis is the local office of a national organization that helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones — good places to live, do business, work, and raise families. By providing capital, technical expertise, training, and information, LISC supports the development of local leadership and the creation of affordable housing; commercial, industrial, and community facilities; businesses; and jobs. In short, we help neighbors build communities.