|
|
 |
|
|
|
|
CDGB Economic Development Funds: $300,000
The Town of Exeter requested a grant of $300,000 in order to subgrant $285,000 to the Rockingham Economic Development Corp. (REDC). REDC lent the Appleseeds Day School a total of $242,000, of which $38,000 was used to provide training to new employees at the child care center. REDC retained $5,000 for their own delivery costs associated with loan. The town retained $15,000 for CDBG administration costs.
 |
Appleseeds Day School
accommodates 100 children. |
The Appleseeds Day School offers day care to infants and toddlers as well as after-school and drop-in care to school-aged children. In total, 100 children in the Exeter area are served by this not-for-profit center.
The Day School hired 18 staff, of which 11 (or 60%) were low and moderate income people. This project leveraged $833,000 in commercial financing and $17,000 in new equity. The owners have invested $150,000 in the project.
 |
CDBG funds helped make Appleseeds
Day School a reality. |
|
|
|
