Paseo du Luz
The DOF was pleased to make a $125,000 pre-construction loan to Cabrillo Economic Development Corporation in Ventura, CA to advance a 25-unit supportive housing development, known as Paseo du Luz,… READ MORE >
Stepping Stones Learning Center
Stepping Stones Learning Center
The DOF provided a working capital loan to Stepping Stones Learning Center (“SSLC”), a Rochester, New York inclusionary school for children with ASD and other special needs, together with other students who are enrolled in SSLC’s inclusionary classes.
SSLC was established nearly two decades ago as a comprehensive education facility to provide intensive individual and family support for children with Autism Spectrum Disorder and to provide school-day classroom education using an inclusionary model of instruction. A New York State not-for-profit corporation, SSLC has expanded gradually since its inception, growing in enrollment and in staffing, to its current enrollment of approximately 500 with nearly 100 full-time staff, many of them licensed professionals certified and experienced to provide educational, therapeutic and other social supports to children and families with ASD and other developmental delays.
Cardinal McCloskey Services
One year ago, Cardinal McCloskey Services (“CMS”) approached The DOF with the challenge of developing a home for four young adults with Autism Spectrum Disorder, all of whom were “aging out” of their residential educational programs and wished to live together in Westchester County, NY. CMS is a not-for-profit, non-sectarian social service agency that provides services to more than 3,000 children, families and developmentally disabled individuals each year.
Working closely with CMS and the four families who support the young adults, we developed a plan over six months which was ultimately approved by the State of New York. In addition, despite the fact that permanent financing was not yet secured, CMS and the families were ready to purchase the home (pictured here).
The DOF provided a $525,000 bridge loan which allowed CMS to close…..and the families moved their children into their new home in Fall 2011!!!!
DOF Saves the Games!
In December 2010, New York State eliminated funding for a treasured event – The Empire State Games for the Physically Challanged. As another example of the DOF’s innovative solutions, Nassau County Executive Ed Mangano tapped President & CEO Charlie Hammerman to chair the Committee to Save the Games, which took place June 2 – 4, 2011 at Mitchel Field, Long Island.
Movin’ Out
The DOF closed a $225,000 predevelopment loan to Madison, WI-based Movin’ Out, Inc. The organization has compiled an impressive record of success in helping people with permanent disabilities, and their families, find and maintain housing of their choice in communities throughout Wisconsin. This loan helped develop 33 housing units marketed to MOI’s target population of tenants with disabilities, tenants qualifying for workforce housing, including care givers working in the county-administered long term support system, and low-to-moderate income families.
DOF Brought the Clarkins Home
The DOF and Habitat for Humanity have structured a joint venture agreement to rescue the Clarkins, seven developmentally disabled siblings who were at risk of losing their family home and needed permanent affordable housing. The DOF provided “gap financing” to fund costs not covered by Habitat.
Paseo du Luz
The DOF was pleased to make a $125,000 pre-construction loan to Cabrillo Economic Development Corporation in Ventura, CA to advance a 25-unit supportive housing development, known as Paseo du Luz, for very low-income people with psychiatric disorders. This early stage loan helped advance a $9.68 million project.
The mission of Cabrillo Economic Development Corporation (EDC) is “To provide comprehensive housing services, through a community building approach, that facilitate self-sufficiency for individuals and families who are most lacking in opportunity in Ventura and Santa Barbara counties and adjacent areas in Los Angeles county.” The DOF made a $125,000 pre-development loan to Cabrillo EDC to help pay for project design, engineering, filing fees and other pre-construction soft costs associated with development of Paseo de Luz, a 25 unit $9.7 million housing project that will serve very low income individuals with psychiatric disorders in Ventura. On-site support will be provided by Ventura County Behavioral Health Department. Cabrillo EDC owns the land and has secured project construction funding from city, county and federal sources, to be used to repay The DOF’s loan.
The repayment of this loan has been structured in a flexible way so the borrower can repay upon receipt of construction funding or the loan will be amortized evenly over five years in the event there are unexpected delays or timing issues with receipt of the construction financing. This flexibility is characteristic of the DOF’s approach to assisting housing development.
Imagine Academy for Autism
Imagine Academy is a school for children with autism ages 5-21, located in Brooklyn, New York. Imagine was founded in 2005 by parents of affected children.
Their vision was to create a place which included a multidisciplinary school, a resource center for the entire family and a residential facility for those who require full time care. This integrated approach gives children with autism the best chance to reach their fullest potential.
Imagine was at full capacity with 15 students and 23 staff, a 1:1 ratio. The new much larger facility is approximately 12,000 square feet, encompassing state-of-the-art therapy rooms, classrooms and a swimming pool. It opened in March, 2010 and is a dream come true for many families affected by autism.
With a loan from The DOF, Imagine was able to expand student capacity from 17 to 34.
The Cottage
The first of its kind in Darien Connecticut, this house provides the six residents with a permanent home in an environment that allows them to engage in independent and group activities which enhance their lives. A professional staff assists the residents 24/7 in making choices, enjoying everyday life, achieving goals and living with dignity.
The project is a five year mini-perm loan providing affordable housing for six young adults with developmental disabilities in Darien, Connecticut. The loan was completed in partnership with the Leviticus Fund, a loan fund in New York.