CSDC Direct/MWCSF Project: AXL
AXL delivers high academic achievement, character development
and social equity: they call it a Revolution in
Learning.
AXL's campus is in one of the most diverse areas of Aurora,
socioeconomically, linguistically, racially, and culturally.
Core subjects, as well as technology, fine arts, physical
fitness, and Spanish, involve deep investigations of real-world
issues.
Staff and students alike adhere to a Code of Conduct, and
students wear uniforms to show respect for themselves and
others.
AXL operates on a year-round calendar to ensure that all
students achieve and maintain adequate yearly progress.
CSDC Direct/MWCSF Project: AXL
Aurora Expeditionary Learning Academy (AXL)
Aurora, CO
www.axlacademy.org
Project Profile: Received a direct loan to refinance an
existing CSDC Credit Enhanced loan and provide new financing for
additional tenant improvements. Total project cost:
$875,000
Aurora Expeditionary Learning Academy turned to CSDC to obtain a
tenant improvement loan of $875,000 to be used for new construction
and refinancing. The PreK-8 college-preparatory school will
dedicate $350,000 of that loan toward building new 7th and 8th
grade classrooms, with the balance going toward refinancing the
charter school's existing, high cost, tenant improvement
loan.
AXL, with a two-thirds minority student body, focuses on
academic achievement, character development and social equity,
delivered in an extended-day, year-round active-learning
program. AXL opened in 2008, with 380 children entering a
lottery for the school's initial enrollment of 240 students in K-5.
CSDC's funding is supporting their expansion through 8th grade.
Students pursue most of their academic studies in single-sex
classrooms, where they can "risk trying your best," and stay with
the same group of students and teachers for two years.
With the lower cost financing from CSDC, AXL was also able to
free up a significant amount of funds held in a collateral account
required by their previous lender, as well as reduce their monthly
loan payment and overall facilities debt. The released funds will
not only improve the school's balance sheet, but will support the
school's operations and establishment of reserves.
Click here to
learn more about CSDC's Direct Lending Programs.
