Tax Credit Transaction Experience

Public Economics, Inc. has provided special financial advisory services involving tax credit financing and/or bond financing for numerous clients, including:

E.L. Haynes Public Charter School

$21,000,000 New Markets Tax Credit Financing, April 2008
Net facilities funding of $19,435,686 with projected average debt service of roughly $599,024 per year for 30 years: effective APR of -0.50 percent

Boston Collegiate Charter School

$6,083,000 Qualified Zone Academy Bonds, Series 2003
$15,789,474 New Markets Tax Credit Financing, March 2008
Net facilities funding of $11,463,491 with projected average debt service of roughly $273,219 per year for 30 years: effective APR of -2.04 percent

The Leaguers, Inc.

$20,000,000 New Markets Tax Credit Financing, January 2008
Net facilities funding of $16,635,244 with projected average debt service of roughly $549,847 per year for 30 years: effective APR of -0.05 percent

Thurgood Marshall Academy

$11,000,000 bridge loan, 2006
$14,500,000 New Markets Tax Credit financing, February 2007
Net facilities funding of $11,000,000 with projected average debt service of roughly $500,000 per year for 30 years: effective APR of 2.13 percent

Berkshire Arts & Technology Charter Public School

$2,000,000 Qualified Zone Academy Bonds, Series 2005 $4,600,000 bridge loan, January 2006 $5,400,000 New Markets Tax Credit financing, September 2006
Net facilities funding of $4,600,000 with projected average debt service of roughly $200,000 per year for 30 years: effective APR of 1.81 percent

Academy of the Pacific Rim Charter Public School

$5,740,000 Qualified Zone Academy Bonds, Series 2005 $6,470,000 Tax Exempt Revenue Bonds, Series 2006A $5,305,000 Taxable Revenue Bonds, Series 2006B
Net facilities funding of $10,208,000 with average debt service of roughly $583,000 per year for 25 years: effective APR of 2.89 percent.

Excellence Charter School of Bedford-Stuyvesant

$10,000,000 New Markets Tax Credit financing, April 2006
Net facilities funding of $9,687,500 with average debt service of roughly $485,000 and anticipated balloon payoff of $6,900,000 on 7th anniversary: effective APR of 1.01 percent.

Edward W. Brooke Charter School

$5,475,000 Bridge Loan, October 2003
$3,000,000 Qualified Zone Academy Bonds, Series 2004 $9,500,000 New Markets Tax Credit financing, December 2005
Net facilities funding of $8,000,000 with projected average debt service of roughly $275,000 per year for 30 years: effective APR of 0.20 percent.

Media and Technology Charter High School

$ 7,750,000 Revenue Bonds, Series 2001 $ 6,250,000 Qualified Zone Academy Bonds, Series 2001 and 2002 $11,500,000 New Markets Tax Credit financing, October 2005 Net funding of $10,750,000 with projected average debt service of roughly $300,000 per year for 30 years: effective APR of -1.11 percent

North Star Academy Charter School of Newark

$3,500,000 New Markets Tax Credit financing, February 2005
Net facilities funding of $1,400,000 with projected average debt service of roughly $150,000 per year for 7 years: effective APR of -6.71 percent.

South Shore Charter School

$5,500,000 Taxable Loan (USDA Guaranteed), December 2003 $2,000,000 Tax Exempt Bonds, Series 2004

Greater Egleston Community High School

$1,768,000 Tax Exempt Bonds, August 2002