Dayton-Montgomery County Port Authority trustees have approved tax-exempt revenue bond funding of up to $7.5 million for construction of the 29,558-square-foot school.
The project is boosted by New Market Tax Credits sponsored by CityWide Development Corp., by a cash contribution from MVCDC itself, and with grants from the city of Dayton as well as the Port Authority bond issue.
“We need adequate space for kids to learn,” Velilla said “And again, the facilities where we’ve had services have been adequate. And we’re very grateful to the landlords that have provided the spaces. It’s just not an ideal (situation) for kids.”
She hopes to see ground broken for the school in early June. She expects construction to take 12 to 18 months, with the building opening soon after that.
“We’re really serving some of the most vulnerable kids in our community,” Velilla said. “The east side of Dayton is an under-resourced area.”
MVCDC serves 2,500 kids altogether in Montgomery, Clark, Greene and Madison counties. The centers also have sites in West Dayton, Englewood, in Kettering and well beyond.
“On behalf of the board of trustees, we are proud to help make funding available for the planned school,” said Joseph Geraghty, the port authority’s executive director. “The MVCDC plays a critical and quiet role in our region by helping children become kindergarten ready and ready to succeed throughout their education.”