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					2010 Chase Community Development Competition
New Orleans, Louisiana

Linking Educational Assets                           Massachusetts Institute of Technology
                                                         School of Architecture + Planning
and Economic Development:
425 South Broad Street                         in partnership with Broad Community Connections
2010 Chase Community Development Competition          MIT Student Team:
New Orleans, Louisiana                                Timothy Bates,Anne Bowman, Caroline
November 2, 2010                                      Edwards, Anne Emig, Amanda Martin,
                                                      Sagarika Suri, Ann Woods, Aspasia Xypolia
Massachusetts Institute of Technology
School of Architecture + Planning                     Project Advisor: Professor Karl Seidman

                                                      Non-Profit Partner:
                                                      Broad Community Connections




Linking Educational Assets and Economic Development: 425 South Broad Street


                                                      1      Executive Summary

                                                      3      Community Need

                                                      5      Project Development Plan

                                                      9      Market and Community Dividend

                                                      11     Population Served and Expected Impact

                                                      13     Design, Functional Utility, and Sustainability

                                                      18     Financing and Development




                                                      Attached: Letters of support
EXECUTIVE SUMMARY                                  Along with these assets, this area of Mid-
                                                   City faces significant challenges. High levels
The Mid-City neighborhood at the                   of poverty and low levels of educational
intersection of Broad Street and Tulane            attainment present barriers for individual
Avenue bears the marks of its historic past        advancement and community development.
and potential for the future. Its location on      Katrina floodwaters of four to eight feet
two transportation conduits makes it a highly      caused extensive damage to the area’s
visible and traversed hub in New Orleans.          buildings and infrastructure. The Broad Street
The Broad Street corridor lies close to the        corridor lacks a cohesiveness and liveliness        Figure 1: Site location
culturally significant neighborhoods of Tremé      that would provide community and economic
and Mid-City, numerous green spaces, and the       assets to its neighborhoods. The structures         The Fab Lab, an international model for a high-
financial nucleus of the CBD. The nearby LSU/      and investments on Broad Street require a           tech shared workshop, will foster innovation
VA hospital complex under construction has         concerted effort to bring opportunity to its        and invention by providing individuals with
the potential to attract new investments and       neighbors and vitality to its landscape.            access to tools for digital fabrication. These
stimulate commercial development in the area.                                                          programs will connect residents from Mid-
Since Hurricane Katrina, many homeowners           This proposal puts forth the redevelopment of       City and across New Orleans to workforce
have sacrificed and labored to rebuild their       the Israel Meyer Augustine school site, located     and entrepreneurial opportunities. During
homes in this area, and a new wave of              on a 110,000-square-foot parcel at 425 South        non-school hours, the building will host adult
residents including young professionals and        Broad Street, into a construction and design        continuing education opportunities and other
Latino immigrants have settled into the shifting   center. The Mediterranean Revival building will     community-oriented activities.
demographic landscape of the neighborhood.         house a vocational charter school as an anchor
Mid-City’s 94% recovery rate, calculated by        tenant and a “Fabrication Laboratory,” or Fab       The redesign and redevelopment of the
the Greater New Orleans Community Data             Lab, as a connected, secondary tenant. The          building at 425 South Broad Street will also
Center in 2010 using postal service data,          school will prepare Orleans Parish students to      turn a neglected block into an asset. The
reflects the commitment to rebuilding and          access skilled construction jobs, which will fill   programming will return the historic structure
interest in the neighborhood’s future.             an industry workforce need expected to grow.        to its original 1927 use, a vocational school.

                                                                   Linking Educational Assets and Economic Development: 425 South Broad Street       1
The design maximizes reuse of the existing         the Broad Street corridor into a vibrant
structure and preserves historic elements          commercial destination through economic
of the Mediterranean Revival exterior, while       and physical redevelopment for the past three
creating innovative indoor and outdoor             years. The organization’s board members
spaces for learning. A reduced footprint of the    have experience in charter school leadership,
building will provide dynamic outdoor areas        real estate development finance, and urban
available to the school and community at large     design. Our project’s financing proposal
while improving passive cooling. The project       relies on a mix of debt and equity sources,           View toward downtown along Broad Street
fits a holistic concept of ecological, economic,   namely New Markets Tax Credits, federal
and social sustainability. The redevelopment       and state historic tax credits, R-CDBG funds,
of the existing building will use green design     and a capital campaign. The Priestley School
principles and improve storm readiness.            of Architecture and Construction, an existing
The workforce and economic development             open enrollment charter high school, has
programming will provide opportunities to          expressed strong interest in being the lead
link to the green building economy, as well        tenant.
as job and entrepreneurial pathways that                                                                 View of exisiting building condition from Baudin Street

students and community members cannot
access elsewhere in the city.


We propose the acquisition and complete
financing of this project through the creation
of a for-profit limited liability corporation
(LLC) that would work closely with the
non-profit partner, Broad Community
Connections (BCC). BCC, a Main Streets
organization, has been working to transform        View of existing building from South Broad Street


                                                                       Linking Educational Assets and Economic Development: 425 South Broad Street                 2
COMMUNITY NEED                                                      the most significant barriers to overcoming                          to access these opportunities depends on
                                                                    poverty. Greater New Orleans and Louisiana                           the creation of accessible pathways to train
Economic Opportunities                                              have experienced some shelter from the                               residents and link them to existing workforce
The proposed construction and design center                         effects of the recession, with unemployment                          needs.
aims to link physical revitalization to jobs,                       rates lower than the national average, although
economic development, and educational                               the 2010 oil spill has caused setbacks for the                       ...many contractors recruit skilled labor from
needs reflected in the neighborhood and                             region.2 Rebuilding needs after Hurricanes                           outside New Orleans and Louisiana.
across New Orleans. According to 2000                               Katrina, Rita, and Gustav created a regional
Census data, the average Mid-City household                         explosion in construction jobs, and large-scale                      Additionally, the need to support economic
income sits at $31,442, well below the                              public and private real estate investments                           development programming that captures
parish average of $43,176, and 32% of                               show no signs of slowing. However, the mere                          innovators and entrepreneurs is key for
the neighborhood lives in poverty. Forty-                           presence of those jobs does not guarantee                            the city’s future. New Orleans’ rate of
five percent of residents lack a high school                        that residents are able to access them. Bryan                        entrepreneurship nearly doubled after Katrina,
degree or an equivalency diploma. Across                            Moore, Director of the Mayor’s Office of                             as returning residents took advantage of the
New Orleans, 47% of full-time, year-round                           Workforce Development, describes that                                opportunity to start new endeavors and build
workers earn less than $35,000, evidencing                          many contractors recruit skilled labor from                          on a recovering economy. At the same time,
the prevalence of low-wage jobs in the city.1                       outside New Orleans and Louisiana. This                              the rate of innovation, measured by the rate
Income disparities between white residents                          practice eliminates not just the opportunity                         of new patents produced by residents, is one-
and residents of color reflect the lingering                        for residents to earn higher wages but also                          sixth of the national average.3 Innovation,
legacy of discrimination and marginalization.                       the multiplier effect those wages would have                         from products to management, drives
Difficulty accessing living wage jobs is one of                     if recycled locally. The ability of local residents                  growing and dynamic economies. Louisiana



1
  Allison Plyer.“Prevalent Wages and Affordable Rents.” Greater New Orleans Community Data Center, November 18, 2009. http://www.gnocdc.org/AffordableRent/index.html (Accessed October 21, 2010).
2
  The Associated Press.“New Orleans jobless rate is nation’s lowest, Lab Department reports.” Nola.com, April 7, 2010. http://www.nola.com/business/index.ssf/2010/04/new_orleans_jobless_rate_is_na.html
(Accessed October 25, 2010).
3
  Amy Liu and Allison Plyer. “The New Orleans Index at Five: Measuring Greater New Orleans’ Progress Toward Prosperity.” The Brookings Institute and Greater New Orleans Community Data Center, 2010,
https://gnocdc.s3.amazonaws.com/NOIat5/MeasuringProgress.pdf (Accessed October 26, 2010).


                                                                                          Linking Educational Assets and Economic Development: 425 South Broad Street                                  3
and New Orleans suffer from “brain drain,”                               new school programs and return of students
in which educated residents leave for work                               to the city, combined with storm damage to
opportunities elsewhere. While Fab Labs are                              buildings already compromised from deferred
accessible to users without college degrees, a                           maintenance, has caused facility insecurity for
New Orleans Fab Lab will provide a geographic                            new and existing schools. Many are housed in
asset for the city to retain its creative and                            modular buildings or other temporary homes.
inventive minds. The city requires resources                             Some school programs have moved two or
like the Fab Lab to channel its entrepreneurial                          more times, sometimes to entirely different
spirit into the creation of original products                            neighborhoods, causing additional disruption              Interior of the school building (source: Times-Picayune,
                                                                                                                                   August 27, 2009)
and processes, which will keep New Orleans                               for youth already traumatized by Katrina.
a thriving and relevant player in the regional                                                                                     represents increased investment in and raised
and national innovation economies.                                       A state-of-the-art permanent home for a local             expectations for New Orleans youth.
                                                                         school will provide a steady, healthy learning
Educational Needs                                                        environment in which individual students                  Community Revitalization
Hurricane Katrina dealt a devastating blow to                            have fewer distractions and more resources.               Broad Street is a major commercial corridor
a school system already in crisis. The storm                             It will allow administrators to focus on the              in New Orleans that, after suffering decades
damaged or destroyed nearly all of the parish’s                          needs of students instead of managing facility            of disinvestment before Katrina, holds new
school buildings and displaced its students,                             crises. The Orleans Parish School Board                   opportunities for revitalization with strategic
teachers, and staff. The State of Louisiana used                         (OPSB) and the state-run Recovery School                  investments in key projects. Along the
this period of massive upheaval to implement                             District (RSD) have identified “innovative and            corridor, blight of large buildings discourages
a novel administrative and educational                                   transformative,” facilities as a top priority for         real estate investments and compromises
approach. Today, New Orleans is the first                                every student in the city.4 At a location that            the area’s cohesiveness and feeling of safety.
school district in the country in which the                              currently houses a dilapidated, vacant building           The commercial spaces created during the
majority of schools are charter schools. Over                            across the street from a criminal court, the              neighborhood’s early- and mid-century
the past five years, the creation of dozens of                           establishment of a permanent school facility              boom era lie in a patchwork of underutilized
4
    “A Blueprint: Building 21st Century Schools for New Orleans - New Orleans School Facilities Master Plan.” August 2008, iv-v.

                                                                                               Linking Educational Assets and Economic Development: 425 South Broad Street               4
structures. One journalist described the                            and urban design programming. BCC’s                                  PROJECT DEVELOPMENT PLAN
haunting state of the Augustine building in                         vision is to develop “a vibrant commercial
2009, with lessons still written on chalkboards                     corridor, bringing together the surrounding                          To link economic development opportunities
from the August school day before Katrina,                          neighborhoods and fostering their economic,                          and educational needs, we propose the
in classrooms littered with “stinking takeout                       residential, and cultural development.”6                             redevelopment of the historic Israel Meyer
food containers, swarms of flies, underwear                         Current programming, including a façade-                             Augustine School building into a community
and broken strings of Mardi Gras beads.”5                           improvement program, small business technical                        construction and design center.              The
Breathing new life into this historic commercial                    assistance, and outdoor markets, promotes                            programming, including a construction trades
district requires redevelopment of Broad’s                          reinvestment in the corridor that will bring                         charter school and community Fabrication
public and commercial buildings. Reinvestment                       goods and services back to the communities                           Laboratory, will bring together a mix of students
in the vacant historic school building at 425                       on Broad Street. BCC works with numerous                             and residents. It will provide opportunities to
South Broad Street will open a new chapter                          partners in the vicinity of the project site,                        link neighbors and city residents to living-wage
in its history as a vocational school. It will                      including the Mid-City Neighborhood                                  job and economic development opportunities.
cement the neighborhood’s commitment to                             Organization, Phoenix of New Orleans,                                Community members will have multiple
preserving its historic character, and signal                       UNITY, and Liberty’s Kitchen, each of which                          reasons to utilize this new space, including its
continued investment to property owners                             shares a common vision for promoting the                             school programming and workshop facilities,
and small business owners in the area.                              community economic development of Broad                              but also its innovative indoor and outdoor
                                                                    Street and the surrounding communities.                              spaces, designed flexibly for multiple uses.
Non-Profit Partner                                                  Additionally, the BCC board provides
Our non-profit partner, Broad Community                             expertise in economic development, design,                           The location of the proposed project
Connections, has been working to transform                          management, and finance, as well as charter                          in a commercial corridor, near several
Broad Street through economic development                           school leadership experience.                                        transportation options, and neighboring


5
  Sarah Carr. “Hurricane Katrina Recovery Paradox Reflected in New Orleans schools.” The Times-Picayune, August 27, 2009. http://www.nola.com/hurricane/index.ssf/2009/08/hurricane_katrina_recovery_par.
html (Accessed September 19, 2010).
6
  Broad Community Connections. http://www.broadcommunityconnections.org (Accessed August 29, 2010).


                                                                                          Linking Educational Assets and Economic Development: 425 South Broad Street                                  5
multiple residential areas, will help the facility
meet its educational,economic,and community
objectives. As illustrated in Figure 2, the site is
centrally located near transportation conduits,
including Broad Street and Tulane Avenue.
The Canal Street streetcar line and the 39
and 94 bus lines connect the project site to
the CBD/French Quarter, Mid-City, Gentilly,
New Orleans East, Hollygrove, and Uptown.
The project’s location on the Broad Street
commercial corridor will help achieve the goal
of community revitalization, and its proximity
to residential areas ensures that community
                                                       Figure 2: Site context
groups will take interest in the convenience
and flexibility of the available space. In addition,   students with the opportunity to gain skills           Community College including the brand new
the 425 South Broad Street location is much            in construction, design, and ancillary fields          Building Performance Index certificate, a green
closer to the geographic concentration of              that will prepare them for career pathways             construction credential.
Priestley school students’ residences, many of         in fields ranging from construction trades to
whom live in Mid-City, than Priestley’s current        engineering and architecture. Students who             The Priestley School of Architecture and
location.                                              decide not to pursue a career in a construction        Construction, an open admissions Orleans
                                                       field will be prepared for college or success          Parish charter school, has expressed strong
A Construction Trades Charter                          in the workforce. Students and graduates will          interest in utilizing the 425 South Broad Street
School                                                 benefit from current and future partnerships           site. Over the past four years, the Priestley
A 58,000-square-foot construction and                  with higher education institutions such as             School has provided New Orleans youth
design trades charter school will anchor the           Southern University at New Orleans and                 with education and training informed by
facility. The school will provide high school          certification opportunities offered by Delgado         the architecture and construction industries.

                                                                            Linking Educational Assets and Economic Development: 425 South Broad Street     6
                                                                                                                Priestley’s mission “is to provide young people,
                                                                                                                especially those at-risk, with the academic,
                                                                                                                vocational, social and leadership skills they
                                                                                                                need to live as a productive member of
                                                                                                                society, take responsibility for themselves,
                                                                                                                their families, and the revitalization of their
                                                                                                                communities and to become ‘active learners’
                                                                                                                in the process.” Many Priestley students have
                                                                                                                come to the school seeking an alternative
                                                                                                                to traditional high school and have found
                                                                                                                its innovative curriculum, which integrates
                                                                                                                numeracy, literacy, and problem-solving within
                                                                                                                the design process, to be a better fit for their
                                                                                                                learning style and educational aspirations. To
                                                                                                                augment Priestley’s existing curriculum, the
                                                     Priestley student work 2009-2010
                                                                                                                Scheller Teacher Education Program (STEP)
Priestley student work from a 2009 trip to Rome
                                                                                                                at MIT has expressed interest in partnering
                                                                                                                with the school to develop technology-based
                                                                                                                educational tools that can improve educational
                                                                                                                outcomes for Priestley’s students.


                                                                                                                Priestley’s first graduating class has now
                                                                                                                entered the job market, but the school still
                                                                                                                lacks a permanent home. It has occupied three
                                                                                                                locations since its inception and is being forced
Priestley students working on developing the “Open   Priestley students working in the AIA: CANstruction food   to move again this school year. The school
Architecture Challenge: Classroom,” Spring 2009      drive project, Fall 2009

                                                                        Linking Educational Assets and Economic Development: 425 South Broad Street             7
and its students require a permanent facility to                      Fabrication Laboratory
grow their programming and provide stability                          A community “Fabrication Laboratory”
in students’ lives, particularly for this at-risk                     will complement the school’s curriculum
population. The school enrolled 308 students                          and bring the facility’s assets to the greater
during the last school year and currently enrolls                     community. This 2,000-square-foot workshop
271 students. The flexible space provided by                          space will provide the tools and training for
this project proposal would allow it to expand                        local entrepreneurs to take their ideas from
                                                                                                                                           South Boston Fab Lab, courtesy of the Center for Bits and
over time to a target of 400 to 425 students.                         the drawing board to prototype to small                              Atoms, MIT (c) 2004
Priestley students would have the opportunity                         business. Cities and institutions across the
to involve themselves in the final design and                         United States and around the world have                             access training in critical skills in computing,
construction processes, giving them first-hand                        successfully implemented Fab Labs, but none                         electronics, programming, and CAD/CAM
experience in their trades and the opportunity                        are located in the southern United States.                          fabrication techniques. Linkages to incubators
to shape the space that they and their peers                          While not limited to building materials, the                        and business management programs will
will inhabit. As a community priority identified                      Fab Lab will have particular equipment and                          allow users to scale their innovations into
in the Orleans Parish School Facilities Master                        resources pertaining to green construction                          the manufacturing stage. Industry analysts,
Plan, during non-school hours, the school’s                           and design, both to reflect regional innovations                    such as Wired Magazine’s Editor-in-Chief
indoor and outdoor facilities will be available                       in these fields and to connect to the school’s                      Chris Anderson, are predicting that the type
for use by other groups and activities. After-                        programming. In the Gulf Coast, with its                            of niche, smaller-scale manufacturing that
school adult continuing education will help                           strong construction market, humid subtropical                       is incubated in Fab Labs will be the “next
further the opportunities of nearby residents.                        climate, and traction for green building, a Fab                     Industrial Revolution.”7 Despite a shrinking
The dynamic outdoor space will provide a                              Lab will encourage unique contributions to                          share of large manufacturing, analysts expect
venue for open-air cultural events, markets,                          the field. The shop’s space and tools will be                       almost all new manufacturing jobs in the US
and community gatherings.                                             available for rental, and users will be able to                     will come from small companies.8


7
    Chris Anderson. “In the Next Industrial Revolution, Atoms Are the New Bits.” www.wired.com, January 25, 2010. http://www.wired.com/magazine/2010/01/ff_newrevolution/all/1.
8
    Anderson. “In the Next Industrial Revolution, Atoms Are the New Bits.”

                                                                                            Linking Educational Assets and Economic Development: 425 South Broad Street                           8
Fab Labs are natural sites of collaboration and   Broad Street into its global Fab Lab Network,      living wages, particularly for an occupation that
network creation. Collaborations between          which currently includes 50 labs in 16 different   does not require college education. In 2008,
the charter school and the Fab Lab will allow     countries. All members of this network have        the national average wage for non-managerial
students access to prototyping and fabrication    access to the Fab Academy, which provides a        construction workers was $21.87/hour, nearly
technologies. The workshop will bring             host of capacity-building resources including      three times the current minimum wage of
entrepreneurs and professionals from outside      advanced technical training and international      $7.25/hour earned by many workers in New
the school community into the facility, and       collaborations.                                    Orleans’ tourism industry, one of the city’s
integrate the project as a whole into the city.                                                      largest job sectors for non-college educated
It will attract individuals beyond the school     MARKET AND COMMUNITY                               workers. In addition, providing a fabrication
community into the building and integrate         DIVIDEND                                           workspace will spur local entrepreneurship
the project into the greater fabric of the                                                           and provide innovative advancements to
neighborhood. Finally, the Fab Lab provides       Broad Street communities as well as Greater        the construction market. A permanent
a physical space for the cross-fertilization of   New Orleans are poised to take advantage           community facility designed for multiple uses,
new ideas among users, and as a result, the       of multiple benefits that this project will        will ensure a stable home for a school as well
dissemination of innovation across broader        provide. The residential and commercial            as a gathering space for other community
regional and national networks.                   construction market in New Orleans will            users. The physical redevelopment will help
                                                  continue to require trained labor into the         achieve multiple objectives laid out by existing
To support this connectivity, MIT’s Center        next decade and beyond. Training young             plans for the area.
for Bits and Atoms, founder of the Fab Lab        adults in New Orleans in construction and
concept, has indicated that it would welcome      design will ensure these opportunities extend
a New Orleans Fab Lab housed at 425 South         to local residents. Construction jobs provide


...the national average for non-managerial construction workers was $21.87/hour, nearly three times the current minimum wage of $7.25/hour
earned by many workers in New Orleans’ tourism industry, one of the city’s largest job sectors for non-college educated workers.



                                                                  Linking Educational Assets and Economic Development: 425 South Broad Street       9
Market for Construction Labor                                      Katrina. Nationwide, the Bureau of Labor                           and marketing new products that would
and Products                                                       Statistics anticipates employment growth in                        be designed in the Fab Lab. For example,
The market demand for residential and                              the construction industry due to population                        given rising energy costs and attention to
commercial design and construction remains                         growth, deteriorating infrastructure, and                          global climate change, an interest in energy-
high in New Orleans and the Gulf Coast.                            aging buildings.11 In addition to the long-                        efficient structures is providing incentives
Within city limits, the Landrieu administration                    term need for construction, the imminent                           for knowledgeable individuals to create new
has committed to completing 138 recovery                           retirement of the Baby Boomers will also                           building technologies to moderate energy
projects, worth over $1.5 billion in public                        create opportunities for new workers in the                        use. These types of niche products can be
investments.9 The new Mid-City LSU teaching                        field; the NCCER report estimates that up to                       designed, fabricated, and tested in the Fab Lab.
hospital represents $1.2 billion of investment,                    20% of the current construction workforce
and the VA hospital in the same complex                            in the United States will retire in the near                       Existing Priorities
$800 million. In a report titled, “The Skilled                     future. The sustained demand for skilled                           The proposed project for 425 South Broad
Workforce Crisis,” the National Center                             construction laborers ensures that the school’s                    Street responds to priorities identified
for Construction Education and Research                            programming will have real-world relevance                         through multiple planning processes for
(NCCER) estimates that in the Gulf Coast, it                       for both students and their future employers.                      the Broad Street area and New Orleans.
will “take one billion man hours, which equates                                                                                       The city’s Master Plan, “A Plan for the 21st
to 50,000 residential craftworkers annually for                    In addition, the strength of the construction                      Century: New Orleans 2030,” highlights that
the next 10 years”10 to rebuild the housing                        market in the region creates an ideal                              “New Orleans’ ability to grow, promote, and
stock that has been lost as a result of Hurricane                  market for conceptualizing, creating, testing,                     sustain the processes of innovation, trade,
                                                                                                                                      and investment—its capacity to produce—is
...it will “take one billion man hours, which equates to 50,000 residential craftworkers annually                                     the key to achieving shared and sustainable
for the next 10 years” to rebuild the housing stock that has been lost as a result of Hurricane                                       economic growth.”12 The Fab Lab provides
Katrina.

9
  City of New Orleans, “Mayor Landrieu Outlines Committed Projects.” Press Release, August 18, 2010. http://nola.gov/en/sitecore/content/Root/PRESS/City-Of-New-Orleans/All-Articles/MAYOR-LANDRIEU-
OUTLINES-COMMITTED-PROJECTS.aspx (Accessed October 22, 2010).
10
   Don Whyte and Steve Greene. “The Skilled Workforce Crisis.” National Center for Construction Education and Research.
11
   Bureau of Labor Statistics. Career Guide to Industries, 2010-2011 Edition.
12
   A Plan for the 21st Century: New Orleans 2030, Executive Summary, p. 76, available at http://www.nolamasterplan.org/.

                                                                                        Linking Educational Assets and Economic Development: 425 South Broad Street                              10
a forum and resources for New Orleans                                     POPULATION SERVED AND                                    is both its larger size and central location,
innovators to grow the city’s economic future.                            EXPECTED IMPACT                                          which will aid Priestley in recruiting more
                                                                                                                                   students and expanding its population served
Additionally, during the Unified New Orleans                              This proposal will provide new resources and             from 271 to approximately 400.
Plan process, residents and stakeholders                                  opportunities to a broad cross section of local
of District 4 (the location of the project)                               residents. Due to programmatic similarities, the         The training students will receive at the
identified several relevant objectives. Short-                            redeveloped school facility at 425 South Broad           redeveloped school facility will provide young
term objectives include the development                                   Street likely will serve a similar population to         people, and in particular low-income, African-
of “relationships among neighborhoods and                                 the current Priestley School body. As an                 American students, with the academic,
surrounding institutions and industries for                               open-enrollment charter high school in the               vocational, and leadership skills they need to
mutual benefits” and the preservation of the                              OPSB system, Priestley students are accepted             become active learners and access and retain
historic character of the area.13 Long-term                               regardless of prior academic record, conduct,            living wage jobs. Additionally, by providing
goals included the “development of multiple-                              or socioeconomic background. Priestley’s                 public high school students exposure to and
use, community facilities to provide an efficient                         student demographics reflect a concentration             preparation for the construction trades, New
use of resources for maximum public benefit.”                             of African-American and low-income youth. In             Orleans will begin to capture more of the
The proposed redevelopment of 425 South                                   2009-2010, 98% of Priestley’s students were              rebuilding investment for the local economy, as
Broad Street clearly supports local residents’                            African-American, and 91% received free                  those wages are cycled through the city. The
visions for their community—it will provide                               lunch (indicating that they come from families           project will also benefit the city’s and region’s
a strong community institution as well as the                             with incomes below 130% of the federal                   construction industry by helping ensure a
reuse of a culturally and historically significant                        poverty guideline). While one might expect               supply of skilled workers in a variety of trades.
structure.                                                                a school themed on construction and design
                                                                          to attract a majority of male students, 56% of           In addition to students, the redeveloped school
                                                                          the student body was female. Ten percent                 facility will serve local adults through the Fab
                                                                          required special educational services. One               Lab as well as low-cost, after-hours continuing
                                                                          advantage of the South Broad Street location             education classes at the school facility. The Fab
13
     Unified New Orleans Plan, District 4, p. 48-53. Available at http://unifiedneworleansplan.com/home3/districts/4/plans/.

                                                                                                 Linking Educational Assets and Economic Development: 425 South Broad Street     11
Lab will attract a variety of local entrepreneurs
and professionals from across the city who
can take advantage of unique access to design
and prototyping technology. By providing a
resource for professionals in construction
related fields as well as local artisans and
inventors of all trades, the Fab Lab will bring
innovators from greater New Orleans to the
facility and provide a forum for their work.


The project will also achieve a number of
outcomes that support BCC’s mission. It
will create an anchor for activity out of an
underutilized property that currently faces         Aerial view of redevelopment proposal
an uncertain future. Rather than sitting idle,
the Augustine site will be transformed into
a bustling school location and a resource
for the wider community. As a Main Street
organization, BCC is focused on protecting
New Orleans’ built heritage while promoting
the revitalization of the corridor. By preserving
and adaptively reusing the Augustine building
to create a catalytic hub for economic and
cultural development, this project resoundingly
accomplishes all of these goals.

                                                    View from Baudin Street

                                                                      Linking Educational Assets and Economic Development: 425 South Broad Street   12
DESIGN, FUNCTIONAL UTILITY,
AND SUSTAINABILITY

The design of the facility will create a dynamic
learning environment in which students
and adults learn, test, and implement new
knowledge and skills. The school’s function as
an innovative, hands-on working laboratory
informs design interventions that allow for
                                                    Section through building and courtyard
flexible spaces and surfaces that can be
adapted for different occasions. To highlight
the neighborhood’s architectural heritage,
the primary structure of the school will be
renovated in keeping with its historic elements,
which will allow the project to qualify for state
and federal historic tax credits. The building
will gain new life and functionality with a few
key architectural interventions that retrofit
the structure to accommodate the unique
demands of a high school population, and
the pedagogical aims of an architecture and
construction education.




                                                    Outdoor courtyard and cafe

                                                                       Linking Educational Assets and Economic Development: 425 South Broad Street   13
Design and Functional Utility
Innovative changes include opening the
building’s auditorium and dining space, and
enclosing the adjacent open lot with a
dynamic perimeter wall that gives the school
a new public ground. The project design has
removed the roofs of the existing auditorium
and dining space and reoriented the seating
of the auditorium to create an “outdoor
auditorium” that connects to a workshop
courtyard at the lower level, on the north side,
and with an elevated courtyard on the upper
level, on the south side. The central location
and visibility of the outdoor auditorium
creates a new continuous, communal space
for informal gatherings, performances, and
study group sessions. This space is shaded by
                                                     Outdoor auditorium and courtyard
a flexible roof structure for climatic comfort. In
addition, the cafeteria located on the ground        the school to utilize the outdoor space as a        public scale. The restoration of the building
level below the enclosed courtyard spills out        defined environment for students. This space        facades facing South Broad and Baudin Street
onto the elevated courtyard.                         can also be used for larger construction            in their original architectural styles celebrates
                                                     projects which require more room than the           the history and memory of the old school.
A new façade along Baudin Street provides            indoor space can accommodate. The wall
the school with a refreshed public image and         itself is a metal frame structure with modular      Recognizing the value of shading in the climate
greater visibility within the community. The         panels that can be replaced by students in          of Louisiana, the design includes an overhead
addition of the perimeter screen wall allows         order to test or exhibit their work at a larger,    structure that reaches from the perimeter

                                                                       Linking Educational Assets and Economic Development: 425 South Broad Street     14
flexible workshop spaces
        Design summary:                         walls and spans the courtyard space and the          contributing to the project’s sustainability. In
                                                open-air auditorium. Like the wall, the modular      keeping with the school’s pedagogical aims, a
      Interchangeable panels
          interchangeable
                          panels                  structure of the roof is designed to accept        selection of the infill panels of the overhead
outdoor amphitheater and dining area              different types of infill panels, ranging from     structure can be replaced with those designed
                                                  those designed specifically to mediate sunlight,   and fabricated in the school by Priestley
                                                  to those which can cultivate a green roof. The     students in collaboration with the Fab Lab.
         steel armature for panel
      Steel armature for panel and workshop tie in
      and workshop tie-in                         roof thus creates a comfortable microclimate,


fab lab
      Flexible workshop spaces
          flexible workshop spaces




exploded components
      Outdoor amphitheater
      andoutdoor amphitheater and dining area
          dining area




      Fab Lab
          fab lab




proposed scheme
      Exploded components
          exploded components




      Proposed scheme
          proposed scheme
existing building




      Existing building
          existing building


                                                                Linking Educational Assets and Economic Development: 425 South Broad Street       15
In addition to the classrooms, dynamic                        The new auditorium space could be used for
workshop spaces are located in the open area                  additional after-school community activities.                               EnvironmEnt
                                                                                                                                             - Green design
adjacent to the school buildings.The perimeter                The perimeter screen wall defines the                                         - Adaptive reuse
                                                                                                                                   - Accessibility by alternative transit
wall acts as a frame for these workshop spaces,               school’s outdoor grounds while maintaining
allowing students to define and customize                     openness and visual exposure to the adjacent
                                                                                                                                    425 South Broad StrEEt
their own spaces with materials and fittings,                 community.
providing a learning-by-doing environment.                                                                                 Equity                                   Economy
The Fab Lab space is incorporated along the                   Sustainability                                        - Living wage job pathways
                                                                                                                    for public school students
                                                                                                                                                             - Workforce development
                                                                                                                                                             - Innovation opportunities
                                                                                                                     - Reinvestment and new                      - Linkages to green
building side that faces Baudin Street, with an               The proposed construction and design center              assets in low-income                       building economy
                                                                                                                          neighborhoods
entrance directly into the courtyard.                         integrates a holistic conception of sustainability
                                                              that includes ecological, economic, and equity
                                                                                                                   Figure 3: Sustainability diagram
In expanding and reshaping the school’s                       elements, illustrated in Figure 3. The facility
grounds, a new urban space emerges, which                     will include several green design elements
can host community events such as markets,                    that will minimize environmental impacts,
outdoor films, exhibitions, and social events.                such as opening the courtyard to improve




Section through building, courtyard, and outdoor auditorium



                                                                               Linking Educational Assets and Economic Development: 425 South Broad Street                                16
ventilation and passive cooling as well as the                         Table 1: LEED for Schools and CHPS possible points
adaptive reuse of a historic structure. Energy                                                                                                                    LEED for           CHPS
efficient retrofits to the building will conserve                        Green Design Category                                                                    Schools           possible
                                                                                                                                                               possible points      points*
energy and reduce operating costs, and the                               Sustainable Sites
redevelopment of this blighted property with                             Community connectivity, joint use of facilities, public transportation
                                                                                                                                                                     12 of 24        9 of 15
                                                                         access, parking minimization, reduced building footprint, reduced
high construction standards will improve its                             heat island effect, reduced light pollution
resilience to storms and flooding. Schools                               Water Efficiency
                                                                                                                                                                     10 of 11        8 of 12
designed with sustainability in mind not only                            Water efficient landscaping, indoor water use reduction
                                                                         Energy & Atmosphere
have a smaller environmental impact, but also                            Improved energy performance, enhanced refrigerant management,
                                                                                                                                                                     13 of 33        7 of 29
provide safe, comfortable, and productive                                energy measurement & verification, building systems testing &
                                                                         training
learning environments. Links between certain
                                                                         Materials & Resources
green building features, such as improved                                Building reuse, construction waste management, recycled content                                 9 of 13     9 of 22
indoor air quality, and positive health effects                          materials, regional materials, certified wood
                                                                         Indoor Environmental Quality
are well established. There is a growing body                            Outdoor air delivery monitoring, construction indoor air quality
of literature connecting green design to                                 management plan, low-emitting materials, controllability of systems,                        17 of 19       18 of 31
                                                                         thermal comfort design & verification, daylight & views, enhanced
productivity and learning benefits, according to                         acoustical performance, mold prevention, mercury reduction
a recent report from the National Academy                                Innovation, Leadership, and Education
                                                                                                                                                                         3 of 6      1 of 12
                                                                         School as a teaching tool
of Science.14
                                                                         Regional Priority                                                                               2 of 4          -
                                                                         Climate
                                                                                                                                                                            -         1 of 8
Our design proposal complies with national                               Emission reduction
standards for green schools developed by the                                                                                                                       66 of 100        53 of 129
                                                                         TOTAL
                                                                                                                                                                 Gold Certifiable   Certifiable
Collaborative for High Performing Schools                              * Texas CHPS 2009 criteria were used; there is currently no Louisiana-specific version of CHPS.
(CHPS) and the U.S. Green Building Council.
Based on the design features, the proposed
renovation would qualify the project as

14
     National Academy of Science.“Green Schools: Attributes for Health and Learning.” 2006.

                                                                                              Linking Educational Assets and Economic Development: 425 South Broad Street                         17
certifiable under CHPS (a pass/fail rating
system) and Gold Certifiable under the LEED
2009 for Schools New Construction and Major
                                                                      Federal NMTC                 Federal HTC              State HTC
Renovations rating system (see Table 1).


The project also contributes to sustainability in
                                                                                                  For-Profit LLC
terms of economic and social equity impacts.
Market interest in green building across the
United States and in New Orleans is growing,                                        Investor                      Developer
                                                                                    Members               +      Manager, LLC
and will comprise a greater share of the                                          (99.9% stake)                  (0.1% stake)
construction market in years and decades to
come. The Fab Lab will provide the opportunity                                                     Broad
                                                                                                                               Property
                                                                                                Community
for inventors to capitalize on this trend and
                                                                                                Connections
                                                                                                                      +       Developer/
spur innovative, ecologically sensitive products                                                                               Manager
                                                                                               (majority stake)
and practices. Providing opportunities for                         Figure 4: Project organizational structure

the projected student demographic, which
includes a majority of African-American and
low-income students, to access living wage
jobs in this growing market aims to address         green building in a low- and middle-income                  FINANCING AND DEVELOPMENT
New Orleans’ vast income disparities. The           area.       Much of the worst damage from
building’s accessibility by foot, bicycle, and      Katrina’s floodwaters was sustained in New                  Development Structure
public transportation not only makes it more        Orleans’ poorest neighborhoods, and it is                   There are many unique challenges to
ecologically sound, but ensures that residents      critically important that investment in greening            developing and financing the renovation of an
without access to cars will be able to use the      New Orleans reach residents across all                      abandoned school facility. The plan outlined
facility and its programming. Additionally, this    socioeconomic groups.                                       below addresses these challenges to achieve
proposal would produce a storm-resilient                                                                        the vision of this community and economic

                                                                    Linking Educational Assets and Economic Development: 425 South Broad Street            18
development project. The development               Table 2: Project development costs
                                                                                                                                 Per square foot of      Percent of total
strategy for the proposed project centers                                                                     Cost               building floor area    development cost
                                                   Hard Costs                                             $   10,671,641                                     79.1%
on the creation of a partnership between           Main building                                          $      9,382,209   $                162.11          69.5%
                                                      Shell                                               $        680,593   $                 11.76           5.0%
BCC, the OPSB, and two new LLCs to                    Interiors                                           $      1,361,110   $                 23.52          10.1%
                                                      Services                                            $      6,919,328   $                119.56          51.3%
ensure eligibility for tax credits and to manage      Equipment and furnishings                           $        421,178   $                   7.28          3.1%
the development of the project. OPSB               Site area                                              $        978,645   $                 13.77           7.3%
                                                      Services                                            $        157,550   $                   2.22          1.2%
currently owns the 425 South Broad Street             Perimeter fence                                     $          8,100   $      9 per linear foot          0.1%
                                                      Parking (30 spaces)                                 $         19,800   $      3 per parking SF           0.1%
property. Because the building and site will          Interior plaza + auditorium                         $        360,855   $       15 per plaza SF           2.7%
                                                      Outdoor workshop area                               $        290,174   $                   4.08          2.2%
be redeveloped into a school, it is reasonable        Site preparation                                    $        142,166   $                   2.00          1.1%
                                                   Demolition                                             $        310,788   $                 12.00           2.3%
to expect that OPSB will agree to a long-             Outdoor area/outbuildings                           $         22,104   $                 12.00           0.2%
                                                      Main building                                       $        288,684   $                 12.00           2.1%
term lease to a new for-profit LLC at a            Construction contingency (10% of hard costs)           $      1,067,164                                     7.9%
                                                   Total Hard Costs + Contingency                         $   11,738,805     $               202.83          87.0%
nominal rent of $1.00 per year. This LLC will
                                                                                                                               Per square foot of    Percent of total
consist of investor members (99.9% stake)                                                                     Cost             building floor area  development cost
                                                   Soft Costs                                             $    1,183,352     $               20.45        8.8%
and a development manager (0.1% stake).            Permits/fees                                           $        68,483    $                 1.18       0.5%
                                                      Permit                                              $        51,854    $                 0.90       0.4%
The development manager will be a special             Plan review                                         $        15,000    $                 0.26       0.1%
                                                      Demo fee (0.5% of demo cost)                        $         1,629    $                 0.03       0.0%
purpose LLC, composed of BCC (with a               Architect/engineer - 4% hard costs                     $       469,552    $                 8.11       3.5%
majority stake of 67%) and an experienced          Environmental review
                                                   Site maintenance
                                                                                                          $
                                                                                                          $
                                                                                                                   12,000
                                                                                                                    8,000
                                                                                                                             $
                                                                                                                             $
                                                                                                                                               0.21
                                                                                                                                               0.14
                                                                                                                                                          0.1%
                                                                                                                                                          0.1%
property developer/manager. This structure         Survey                                                 $         3,600    $                 0.06       0.0%
                                                   Appraisal/market study                                 $        10,000    $                 0.17       0.1%
allows the project to take advantage of the        Legal/accounting                                       $        90,000    $                 1.56       0.7%
                                                   Title insurance                                        $        34,724    $                 0.60       0.3%
New Markets Tax Credit (NMTC) program,             Insurance                                              $        24,000    $                 0.41       0.2%
                                                   Real estate taxes                                      $       173,622    $                 3.00       1.3%
the Federal Historic Preservation Tax Credit       Operating reserve                                      $       289,370    $                 5.00       2.1%
                                                   Soft cost contigency (5% of soft costs listed above)   $        59,168    $                 1.02       0.4%
(HTC) program, and the Louisiana State             Developer fee                                          $        88,751    $                 1.53       0.7%
                                                   Financing                                              $        23,667    $                 0.41       0.2%
Historic Preservation Commercial Tax Credit        NMTC and HTC legal fees                                $       150,000    $                 2.59       1.1%
                                                   Debt coverage and interest reserve                     $       250,000    $                 4.32       1.9%
program. The organizational structure of this      Total Soft Costs + Fees + Contingency                  $    1,754,938     $               30.32       13.0%
arrangement is illustrated in Figure 4.            TOTAL COSTS                                            $   13,493,743     $            $ 233.16       100%




                                                              Linking Educational Assets and Economic Development: 425 South Broad Street                                   19
Project Costs                                     per square foot coincides with estimates           Sources of Funds
The total project development cost is             obtained from local developers and industry        The total project development costs will
estimated at $13.5 million. This figure is        experts.    The itemized total hard costs          be financed through the use of Federal
based on the August 2008 renovation costs         associated with the new school building and        New Markets Tax Credits; Federal Historic
estimated in the School Facilities Master Plan    surrounding grounds are presented in Table 2.      Preservation Tax Credits; State Historic
for Orleans Parish Deferred Maintenance Plan                                                         Preservation Commercial Tax Credits; a 0%
(DMP), with revisions to reflect the proposed     Our $1.75 million estimated soft costs include     interest, 20-year amortizing loan, provided by
development and financing plan, as well as        permits, developer fees, insurance, and taxes,     the OPSB; Community Development Block
conversations with local development experts.     as well as legal fees anticipated to be incurred   Grant Funds; and a capital campaign. These
With the hard and soft costs described below,     in the process of obtaining both the NMTC          sources are detailed in Table 3.
the complete renovation of the building and       and HTC funds. Estimates for these costs
grounds will cost far less than the demolition    are based on comparable projects in New            Equity Sources
and replacement of the facility, estimated at     Orleans, as well as discussions with syndication   Fifty-seven percent of the project cost is
$24.5 million in the DMP  .                       representatives in New Orleans and Boston.         projected to come from equity via tax credit
                                                  The proposal accounts for lower professional
The total hard cost estimate for this             architectural and engineering fees (4% of hard     Table 3: Sources of funds
proposal is $11.7 million, which amounts to       costs, rather than a more common 6%), as we        Equity
                                                                                                       New Markets Tax Credits           $      2,946,299
approximately $203 dollars per square foot of     anticipate that part of these costs is likely to
                                                                                                       Federal Historic Tax Credits      $      2,401,874
building area. The hard cost estimate uses the    be offset by pro-bono services. Additionally,        State Historic Tax Credits        $      2,335,155

DMP renovation figure, adjusted for inflation,    $250,000 has been allocated for a reserve to
                                                                                                     Public Funding
as a basis. The cost for design elements          support a sufficient debt service coverage ratio     CDBG funds                        $      1,000,000
specific to the proposal, such as the perimeter   during the first seven years. Finally, we have       Foundation grants/capital campaign $     1,893,766

wall structure, were added to the adjusted        included a 5% contingency for unforeseen soft
                                                                                                     Debt
hard costs. In addition, a contingency of 10%     costs.                                               0% interest loan                  $      2,916,650
has been added to account for unforeseen
                                                                                                     TOTAL FUNDS                         $    13,493,743
expenses during construction. The hard cost

                                                                  Linking Educational Assets and Economic Development: 425 South Broad Street           20
programs. Given that the building is a historic      because of its location in a qualified distressed   Public Funds, Grants,
landmark in the Mid-City Historic District,          census tract (per the NMTC program                  and Donations
we expect to use both the Federal Historic           requirements), the host of community                Public funding sources will supplement tax
Preservation Tax Credit and the Louisiana            benefits that the project will bring to the         credits to raise money for the facility. The
State Historic Preservation Commercial Tax           neighborhood, and a sufficiently large total        Recovery Community Development Block
Credit, which allow a credit of 20% and 25% of       development cost. The NMTC contribution             Grant (R-CDGB) program is one important
project cost, respectively. To be eligible for the   to project financing is estimated $2,946,299,       source of such funds. In 2010 alone, two
state tax credit program, the New Orleans City       based on a $0.72 per tax credit dollar yield and    school renovation projects each received
Council must designate the building part of a        a 6% CDE fee. These yield and fee estimates         over $3 million of R-CDBG funds toward
cultural district. The federal-level contribution    are within realistic ranges provided by tax         their overall development costs. For 2011,
of $2,401,874 is based on a realistic $0.90 per      credit practitioners, and given the project type    the City of New Orleans has already allocated
tax credit dollar yield, while the state historic    and the community impact it is expected to          $23 million of R-CBDG funds to a variety of
tax credit contribution of $2,401,874 is based       have, they are reasonably achievable through        community development projects in their
on a $0.70 yield. The lower state yield is due       negotiation.                                        Capital Improvements Budget. We believe it
to the fact that claiming the state tax credits                                                          is reasonable to estimate that $1 million in
reduces the investor’s federal tax liability,        Due to the complexity of the financial structure    R-CDBG funds would be committed for this
making the state credits less desirable. As a        and negotiations necessary to arrange for the       project in 2012. It may also be possible to
result, each historic program contributes a          use of these tax credit programs, we have           obtain a reallocation of existing 2011 R-CDBG
similar amount to the total project financing.       projected additional legal expenses above           funds if any of the currently funded projects
                                                     and beyond those required for less complex          do not go forward. This project is a prime
In addition to historic tax credits, the project     projects. These expenses have been included         candidate to receive a portion of R-CDBG
is also eligible to apply for New Markets Tax        in soft costs, but were not included in the total   funds as it is located in a census tract in which
Credits, which provide a further 39% credit          development budget used to estimate tax             at least 51% of the population has low or
allowance off federal taxes. This project is         credit yields.                                      moderate income, will help provide a quality
a strong candidate for the NMTC program                                                                  high school education for New Orleans youth,


                                                                      Linking Educational Assets and Economic Development: 425 South Broad Street      21
                                                                                   PROPOSED SOURCES OF FUNDS


                                                                                                                 Public
                                       Equity                                                                                                                                              Debt
                                                                                                                Funding



                         New Markets Tax Credits                                         Capital
                                                                                                                                  CDBG Funds                                 OPSB 0% interest loan
                                      $2,946,299                                        Campaign                                     $1,000,000                                         $2,916,650
                                                                                         $1,893,766
                        Federal Historic Tax Credits
                                      $2,401,874                                                Private Foundations with a Focus on
                                                                                                 Funding Charter School Facilities
                         State Historic Tax Credits
                                      $2,335,155                                          Annie E. Casey                    The Prudential
                                                                                           Foundation                        Foundation *

                                                                                      Bill & Melinda Gates                   Home Depot
                                                                                            Foundation                        Foundation

                                                                                      The Eli and Edythe                 The Walton Family
                                                                                      Broad Foundation *                   Foundation *

                                                                                                                                                                                                   * Specific focus
                                                                                        Other National, State, and Local Organizations                                                             on New Orleans


                                                                            A LT E R N A T I V E S O U R C E S O F F U N D S

                                       Miscellaneous                                                  Public Funds                                                    Private Funds

                          Qualified School Construction Bond Program                    Credit Enhancement for Charter Schools Facility                                NCB Capital Impact:
                                       (Dept of Treasury):                             Funding (Dept.of Ed): Provides grants to non-profits to          Provides loans for acquisition, renovation, construction,
                          Supports construction and rehabilitation of facilities     develop credit enhancement models to assist charter schools      leasehold improvement; technical assistance to developers
                             through tax credit and direct payment bonds                       in leveraging capital from private sector                          Raza Development Fund, Inc.:
                                                                                                                                                          Provides predevelopment, leasehold improvement,
                                                                                          Louisiana Charter School Start-Up Loan Fund:
                           Charter Schools Development Corporation:                                                                                    acquisition, construction, and mini-permanent loans; also
                                                                                      Provides zero-interest loans for expenses including acquisi-
                          Develops financing mechanisms to create access to                                                                                               technical assistance
                                                                                                       tion, upgrade, and repairs
                             capital using real estate advisory programs
                                                                                                                                                              Local Initiatives Support Corp. (LISC):
                                                                                      Louisiana Public Facilities Authority Conduit Financing:       Provides mini-permanent financing with 7-yr. term and 20-yr.
                           Charter School Financing Partnership (CSFP):                        Provides access to tax-exempt financing                amortization; short-term construction loans with interest
                             Part of Housing Partnership Network; provides                                                                                                   only period
                        affordable ways for smaller schools to access tax-exempt
                                              bond market                                                                                                    Educational Facilities Financing Center:
                                                                                                                                                      Leverages pools of low interest loans and grant funds for
                                                                                                                                                               investment in charter school facilities
                                                                                                                                                                              Self-Help:
                                                                                                                                                        Provides loans to operators for acquisition, renovation,
Figure 5: Proposed and alternative sources of funds                                                                                                  leasehold improvement, construction, mini-permanent loans


                                                                                                        Linking Educational Assets and Economic Development: 425 South Broad Street                                   22
will address critical workforce shortages in the   increase of 1% a year. This figure was deemed     developing entity’s project ownership role,
construction trades, will bring an abandoned       appropriate based on discussions with local       including oversight and administration of loan
building back into use, and will benefit a         industry experts. Because the Fab Lab is          payments, school rent collection, and NMTC
priority area for the city.                        embedded in the school, no additional rent        management. The remaining annual expenses
                                                   is charged for the Fab Lab space. Any income      include interest on the NMTCs and debt
Finally, a capital campaign will close the         generated from associated uses of the Fab Lab     service payments. Given that the property is
remaining $1.9 million financing gap. Funding      will be returned into the school’s operational    a school, it is assumed that no property taxes
sources will include private and public grants     budget, helping to offset the cost of operating   will be levied on the project. During the first
and individual donations. A list of possible       the lab. In addition, any costs incurred from     seven years, $35,714 will be drawn from the
funding sources, including several foundations     after-hours adult education or community          reserve each year to ensure a minimum 1.20
that focus on charter schools and/or New           uses at the school will be offset through fees    debt service coverage ratio. The positive net
Orleans, is shown in Figure 5. This figure also    for those uses. The total estimated rent of       cash flow generated by the property can be
lists a variety of alternative funding sources,    $200,000 per year is based on a 400-student       used for additional capital improvements.
demonstrating the extensive network of funds       enrollment. Cash flow estimates also include
that are available to service the growing needs    an under-enrollment contingency of 7.5% to        In its present location, Priestley currently
of charter schools.                                allow for unexpected changes in enrollment.       allocates over $890 per student per year
                                                                                                     in transportation costs. However, the new
Cash Flow                                          Because this proposal assumes a triple net        building’s central location, along with the fact
An estimated ten-year cash flow for the            lease, the charter school tenant and/or OPSB      that much of the school’s current student
project is shown in Table 4. Because charter       will be responsible for utilities, insurance,     population lives in the Mid-City area, should
schools receive some funding based on the          building maintenance, and replacement             allow for a significant reduction in these
number of enrolled students, the cash flow         reserve payments. The operating expenses          transportation costs in the future. The savings
statement assumes that the school will pay         for the developing entity are the nominal         from this reduction would be reallocated
rent to the developing entity on this basis        leasehold payment to OPSB of $1 per year,         within the school budget, mitigating part or all
as well. The proposal suggests charging the        as well as administrative costs of $10,000 per    of the proposed $500 per student rent.
school $500 per student in rent, with an           year (increasing at 2% annually) to cover the

                                                                   Linking Educational Assets and Economic Development: 425 South Broad Street    23
Table 4: Cash flow

                                                  Year 1            Year 2           Year 3           Year 4           Year 5           Year 6           Year 7           Year 8             Year 9           Year 10

Charter School (400 students. $500 rent per student, growing at 1.0% annually.)


PGI (total rent)                           $     200,000     $     202,000     $    204,020     $    206,060     $    208,121     $    210,202     $    212,304     $    214,427       $    216,571       $     218,737
      Under enrollment allowance (7.5%)    $      (15,000)   $      (15,150)   $     (15,302)   $     (15,455)   $     (15,609)   $     (15,765)   $     (15,923)   $     (16,082)     $     (16,243)     $      (16,405)
EGI                                        $     185,000     $     186,850     $    188,719     $    190,606     $    192,512     $    194,437     $    196,381     $    198,345       $    200,328       $     202,332


Operating expenses
      Leasehold payments                   $           (1)   $           (1)   $          (1)   $          (1)   $          (1)   $          (1)   $          (1)   $            (1)   $            (1)   $             (1)
      Administrative costs (grow @ 2.0%)   $      (10,000)   $      (10,200)   $     (10,404)   $     (10,612)   $     (10,824)   $     (11,041)   $     (11,262)   $     (11,487)     $     (11,717)     $      (11,951)
Total Operating Expenses                   $    (10,001)     $    (10,201)     $    (10,405)    $    (10,613)    $    (10,825)    $    (11,042)    $    (11,263)    $    (11,488)      $    (11,718)      $     (11,952)


Net operating income                       $      174,999    $      176,649    $     178,314    $     179,993    $     181,686    $     183,395    $     185,119    $     186,857      $     188,611      $      190,380
Drawing from debt service reserve          $       35,714    $       35,714    $      35,714    $      35,714    $      35,714    $      35,714    $      35,714    $      --                 --                  --
Cash Available for Debt Service            $     210,713     $     212,363     $    214,028     $    215,707     $    217,401     $    219,109     $    220,833     $    186,857       $    188,611       $     190,380


NMTC interest (1.0%)                       $      (29,463)   $      (29,463)   $     (29,463)   $     (29,463)   $     (29,463)   $     (29,463)   $     (29,463)   $      --          $      --          $       --
Debt service                               $     (145,833)   $     (145,833)   $    (145,833)   $    (145,833)   $    (145,833)   $    (145,833)   $    (145,833)   $    (145,833)     $    (145,833)     $     (145,833)
Debt Service + Interest Payments           $   (175,295)     $   (175,295)     $   (175,295)    $   (175,295)    $   (175,295)    $   (175,295)    $   (175,295)    $   (145,833)      $   (145,833)      $   (145,833)


Net Cash Flow                              $      35,418     $      37,068     $     38,732     $     40,411     $     42,105     $     43,814     $     45,537     $     41,025       $     42,778       $      44,547


Debt service coverage ratio                           1.20              1.21            1.22             1.23             1.24             1.25             1.26                1.28               1.29                1.31




                                                                                                Linking Educational Assets and Economic Development: 425 South Broad Street                                      24
Debt Sources                                           cost value would reflect the current                either after development or after the tax
A $2.9 million, 0% interest permanent loan             development costs for the building, less            credit allocations expire at year seven. If at
amortizing over 20 years will be serviced by           depreciation. A very conservative estimate          this time Priestley ceases to be a tenant, it is
rent paid by the school to the managing LLC.           of this value might place the building at $6.8      conceivable that OPSB would allow a new
Discussions with a local industry expert have          million, or about 50% of the development            charter school to assume its existing loan
confirmed that it is reasonable to assume that         costs. Given the uncertain nature of the            in this sale. However, if the OPSB requires
the OPSB will provide this loan.The rent from          building’s value, the financing plan has been       repayment of its loan, it would be feasible to
the school will generate sufficient cash flow          devised with a minority of debt financing,          refinance the remaining balance – the year
to support the projected loan, with a debt             21% of overall costs, reducing risk to lenders.     eight projected cash flow of $186,857 would
service coverage ratio of 1.20 in the first year,      Although there is potential for adaptive reuse      qualify a 6% loan over a 20-year amortization
sufficiently high for a project of this type. This     of the building given its location and proposed     period, at a 1.25 debt coverage ratio. If
ratio will increase slightly over time. The City       improvements, if the facility no longer served      interest rates were higher, the new charter
of New Orleans is likely to guarantee the loan         as a school in the future, its value would          school would have to contribute cash to fill
based on the project’s community impact,               depend on costs to convert the building and         the gap between the outstanding balance on
the relatively low loan amount, and the small          income generated from a new use.                    the OPSB loan and the new loan amount. For
contribution of debt to the overall project                                                                a 7% loan, the gap would be a little more than
capitalization.                                        Exit Strategies                                     $82,000 – a modest amount for a charter
                                                       There are two alternative exit strategies for       school to raise to acquire a 58,000-square-
Valuation                                              BCC. In the scenario we have outlined in this       foot school building.
As a specialized public facility, it is difficult to   proposal, BCC serves as the developer of the
estimate a “market” valuation for the building.        building but never take ownership control. The
The property does not generate income and              OPSB retains ownership and could either sign
thus typical income-based appraisal methods            a long-term lease with the charter operator,
are not relevant. Its value is more likely to be       or sell the building to the charter operator. A
based on the cost to construct or acquire a            second scenario is that BCC would acquire
comparable school facility. This construction          the building and sell it to the charter operator,

                                                                       Linking Educational Assets and Economic Development: 425 South Broad Street      25
Letters of Support

Dennis McSeveney, President
Priestley Charter School Board

Sherry Lassiter, Program Manager
Center for Bits and Atoms, MIT

Stacy Head, Councilmember
District B, City of New Orleans

Bryan Moore, Director
Mayor’s Office of Workforce Development

Ben Bradley, Grants and Learning Service Administrator
Public Service Center, MIT

Pamela Bryan, Director
Operation Comeback
Preservation Resource Center

Eric Klopfer, Director
Scheller Teacher Education Program, MIT

Jennifer Farwell, President
Mid-City Neighborhood Organization

William Keeley, Chair
ACE Mentoring Project

Allen Bell, President/Co-founder
Idea Village
Priestley Charter                                                            2009 Palmyra Street
                                                                             New Orleans, LA 70112
architecture + construction                                                  P. 504.324.7200
www.pr ies tle yc harterschool.c om                                          F. 504.528.2105



    October 24, 2010

    Ms. Lizette Terral
    President, New Orleans Region
    JPMorgan Chase, North America
    201 St. Charles Avenue, 27th Floor
    New Orleans, LA 70170

    Dear Ms. Terral:

    As President of the Board of Priestley School of Architecture and Construction [Priestley], an
    Orleans Parish Charter School, I write in strong support of the proposal to the Chase
    Community Development Competition for the redevelopment of the Israel M. Augustine
    Middle School building as a charter high school designed to educate and prepare students for
    careers in the broad array of skills that comprise or lead to careers in the fields of architecture,
    construction and engineering.

    Priestley Charter was founded in 2006, immediately after Hurricane Katrina, to provide “a
    unique academic environment for a diversity of students with varying academic abilities.” The
    vision of Priestley’s founders was to offer a high school curriculum “specifically designed by the
    construction industry [and educators] to prepare students for entry into direct employment, a
    construction apprenticeship training program, a community college or a four-year degree
    institution.” Priestley’s mission “is to provide young people, especially those at-risk, with the
    academic, vocational, social and leadership skills they need to live as a productive member of
    society, take responsibility for themselves, their families, and the revitalization of their
    communities and to become ‘active learners’ in the process.” Simply, Priestley’s goal is to
    prepare all of our graduates to succeed in jobs that provide a living wage whether they go to
    college to pursue careers in architecture, engineering, or another field or become skilled
    workers in the construction trades or other fields.

    To fulfill this mission, Priestley is led by a Principal who is an educator experienced in dealing
    with at risk students. The school staff includes a Dean of Design who is an architect. Together
    and with the enthusiastic support of the teachers they have woven design and problem solving
    throughout Priestley’s curriculum. This approach is designed to enhance student learning by
    enabling students to take a larger problem, solve the pieces of the problem, and resolve the
    broader problem.
Priestley Charter                                                            2009 Palmyra Street
                                                                             New Orleans, LA 70112
architecture + construction                                                  P. 504.324.7200
www.pries tle yc harter school.c om                                          F. 504.528.2105



    October 24, 2010
    Ms. Lizette Terral
    Page 2

    Priestley enrolled its first class of ninth graders in fall 2006 and added an additional high school
    grade each year with the first class graduating in May 2010. The school currently enrolls 271
    students with the ideal enrollment being 400 to 425 students.

    Priestley School of Architecture has garnered strong support from the architecture and
    construction industries. A full list of the nine board members is attached and includes the
    following members from the architecture and construction industries: Eugene Darwin Cizek,
    PhD, FAIA, Director of the Preservation Studies Program in Tulane University’s School of
    Architecture; Neil Hickok, P.E. [Board Vice President], Heavy Construction Department, Boh
    Bros Construction Co.; William “Bill” LeCorgne, Jr., P. E., Senior Vice President of Operations &
    C.O.O., woodward design+build; Frances B. Roemer, Chief Administrative Officer and Director            “A sense of place is important to young
    of Business Development, F. H. Myers Construction Corp.; and Kenneth Schwartz, FAIA, Dean of
    the School of Architecture at Tulane University.                                                       people, especially those in New Orleans,
                                                                                                           and having a stable home for Priestley
    During the 2010-2011 school year, Priestley will become the initial site for the ACE Mentor            will enable greater achievement for our
    Program’s newly formed Greater New Orleans affiliate. The ACE Mentor program’s mission is
    “to engage, excite and enlighten high school students to pursue careers in the integrated              students.”
    construction industry through mentoring; and to support their continued advancement in the
    industry through scholarships and grants.” Through this program industry professionals --              Dennis R. McSeveney, Board President
    architects, mechanical, structural, electrical, environmental and civil engineers, construction        Priestley School of Architecture and Construction
    managers, and other professionals from related corporations and professional organizations --
    will mentor Priestley students, introduce them to their professions, encourage them to pursue
    careers in the broad range of jobs in construction, engineering, and architecture, and award
    scholarships for college or technical post-high school education and training.

    Although the first graduating class from Priestley School of Architecture and Construction just
    graduated in May 2010, the school has faced considerable challenges. One of the most critical
    of these challenges is that the school is now in its third location since it opened n 2006 and it
    shared space with other schools during two of those four years. In the next few months
    Priestley must again vacate its building because it is in the footprint of the planned LSU Health
    Sciences Center. It is still not certain where Priestley will be housed in 2011. A sense of place is
    important to young people, especially those in New Orleans, and having a stable home for
    Priestley will enable greater achievement for our students. It will also enable Priestley to
    develop stronger ties to the community in which the school is located and to the communities
    in which our student live.
Priestley Charter                                                         2009 Palmyra Street
                                                                          New Orleans, LA 70112
architecture + construction                                               P. 504.324.7200
www.pries tle yc harterschool.c om                                        F. 504.528.2105



   October 24, 2010
   Ms. Lizette Terral
   Page 3


   Renovating the Israel Augustine School in partnership with Broad Street Community
   Connections to meet the needs of Priestley will directly benefit the academic enterprise of
   Priestley. It will also positively impact the Broad Street Community and surrounding
   communities by providing a stable, open admissions high school that can serve as an anchor for
   the Tulane end of the Broad Street corridor.

   The founders of Priestley’s initial vision was to “provide classes in the construction trades to
   out-of-school youth and adults” to include “literacy and numeracy instruction necessary for
   success in the trades.” As stated in its original mission, Priestley planned “to provide the same
   skills [it provides to the high school students] to adult learners in an evening program.” The
   current site and previous two sites that housed Priestley were too small to enable Priestley to
   fully that aspects of its mission The Israel Augustine School would provide the space needed to
   allow the possibility of expanding the school’s offerings to include adult learners. This kind of
   programming could further foster the revitalization of the area of the Broad Street corridor
   near the school.

   The Board of Priestley School of Architecture and Construction is excited about the possibility of
   Priestley partnering with Broad Street Community Connections to transform the Israel
   Augustine School into a permanent home for Priestley and to work together with Broad Street
   Community Connections to revitalize a portion of the city we both serve as a vibrant, economic
   and culturally stable community.

   Sincerely,




   Dennis R. McSeveney, Ph.D.
   Board President, Priestley School of Architecture and Construction
   Professor Emeritus of Sociology,
   Dean of the College of Liberal Arts Emeritus, and
   Associate Provost Emeritus
   University of New Orleans
Priestley Charter                                                      2009 Palmyra Street
                                                                       New Orleans, LA 70112
architecture + construction                                            P. 504.324.7200
www.pr ies tle yc harter school.c om                                   F. 504.528.2105


                                       2010-2011 Board Members
                                       [updated October 4, 2010]

        Dennis R. McSeveney, Ph. D.                   Beverly Nichols, CPA
        Board President                               Board Treasurer
        Professor Emeritus of Sociology,              Bourgeois, Bennett, L.L.C.
        Dean Emeritus of the College Liberal          111 Veterans Blvd, Suite 1700
        Arts, and Associate Provost Emeritus          Metairie, LA 70005
        University of New Orleans                     (504) 232-0246 (mobile)
        6315 Cartier Drive                            (504) 833-9093 (fax)
        New Orleans, LA 70122-2227                    (504) 831-4949(office)
        (504) 280-1405 (office)                       bevn@bb-cpa.com
        (504) 286-8238 (home)
        (504) 280-1405 (office fax)                   Christopher D’Amour
        (504) 236-6967 (mobile)                       Board Immediate Past President
        dennis.mcseveney@uno.edu                      Adams and Reese LLP
        dennis.mcseveney@gmail.com                    4500 One Shell Square
                                                      New Orleans. LA 70139
        Neil Hickok, P.E.                             (504) 585-0327
        Board Vice President                          Chris.damour@arlaw.com
        Heavy Construction Dept.
        Boh Bros Construction Co., L.L.C.             Eugene Darwin Cizek, PhD, FAIA
        504-244-9271 (office)                         Director, Preservation Studies Program
        504-451-1294 (mobile)                         School of Architecture
        504-244-9274 (fax)                            Tulane University
        nhickok@bohbros.com                           New Orleans, LA 70118
                                                      (504) 865-5389(office)
        Mary Green                                    (504) 250-6630 (mobile)
        Board Secretary                               (504) 862-8798 (fax)
        Nursing Program Director                      ecizek@tulane.edu
        Herzing University
        2400 Veterans Memorial # 410                  William “Bill” LeCorgne, Jr., P. E.
        Kenner, LA 70062-8734                         Sr. Vice President of Operations &C.O.O.
        (504) 733-0074 (office)                       woodward design+build
        (504) 733-0020 (fax)                          1019 South Dupre St.
        jandmessence@AOL.com                          New Orleans, LA 70125
        mgreen@nor.herzing.edu                        (504) 822-6443 (office)
                                                      (504) 822-9493 (fax)
                                                      blecorgne@woodwarddesignbuild.com
Priestley Charter                                          2009 Palmyra Street
                                                           New Orleans, LA 70112
architecture + construction                                P. 504.324.7200
www.pr ies tle yc harterschool.c om                        F. 504.528.2105




    Frances B. Roemer                  Kenneth Schwartz, FAIA
    Chief Administrative Officer       Dean, School of Architecture
    Director of Business Development   Tulane University
    F. H. Myers Construction Corp.     6823 St. Charles Ave.
    520 Commerce Point                 Richard Memorial Hall, Rm. 303
    Harahan, Louisiana 70123           New Orleans, LA 70118
    (504) 737-1073 (office)            (504) 314-2361 (direct line)
    (504) 734-1099 (fax)               (504) 865-5389 (office)
    (504) 289-9050 (mobile)            (504) 865-6722 (fax)
    frances@fhmyers.com                Assistant: Dina Lossi
                                       kschwartz@tulane.edu
“Fab Labs are increasingly being
adopted by schools and colleges as
platforms for project-based, hands-
on STEM education. Users learn by
designing and creating...”

Sherry Lassiter, Program Manager
Center for Bits and Atoms, MIT
“...the redevelopment of the Augustine
building complements a number of
city policies and priorities, including
blight removal, coordinating investment
around key public improvements, and
creating schools that also serve as hubs
for the surrounding community.”

Stacy Head, Councilmember
District B, City of New Orleans
“Currently, many contractors are
recruiting skilled labor from outside
the New Orleans metro area and
even the state -- this lost opportunity
represents millions of dollars that could
be benefitting our local economy.”

Bryan Moore, Director
Mayor’s Office of Workforce Development
“By identifying this opportunity to
reuse an existing historic structure to
improve the facilities of a local charter
school, the team has identified ways
to leave a lasting imprint on the Broad
Street Corridor.”

Ben Bradley, Grants and Learning Service Administrator
Public Service Center, MIT
“We would welcome Priestley students
into our program, which would provide
them with technical skills in historic
preservation and restoration.”

Pamela Bryan, Director
Operation Comeback
Preservation Resource Center
             Eric Klopfer                               20 Ames St                     (617) 253-2025
             Associate Professor                        MIT Bldg E15-301               klopfer@mit.edu
             Director                                   Cambridge, Massachusetts
             MIT Scheller Teacher Education Program     02139     USA


                                                                                   October 30, 2010
Lizette Terral
President, New Orleans Region
JPMorgan Chase, North America
201 St. Charles Avenue, 27th Floor
New Orleans, LA 70170

Dear Ms. Terral:                                                                                                “...pleased to support the Israel
                                                                                                                Augustine development project and
The MIT Scheller Teacher Education Program (STEP) is pleased to support the Israel Augustine
development project and to partner with the Priestley school to develop educational tools that improve          to partner with the Priestley school to
educational and life outcomes for students. Our program prepares MIT undergraduates to become math and          develop educational tools that improve
science teachers and also does research and development of technologies and curricula that facilitate deep
and playful learning in both formal and informal educational settings. We believe that the right use of
                                                                                                                educational and life outcomes for
technology can transform teaching and learning, especially for students who have not had success with           students.”
conventional methods of pedagogy and schooling. By listening closely to Priestley school’s teachers and
students regarding their hopes and challenges, we hope to improve our ability to design appropriate tools for
underserved students.                                                                                           Eric Klopfer, Director
                                                                                                                Scheller Teacher Education Program, MIT



                                                                                   Sincerely,




                                                                                   Prof. Eric Klopfer
Lizette Terral
President, New Orleans Region
JPMorgan Chase, North America
201 St. Charles Avenue, 27th Floor
New Orleans, LA 70170

Ms. Terral:

I am writing in support of Broad Community Connections’ proposal for the 2010 Chase/Enterprise Community
Development Competition. Working with a team of MIT planning and architecture graduate students, BCC has
developed an exciting proposal to redevelop the Israel Augustine building at 425 S Broad Street into a technical
arts vocational charter high school, with associated workforce development programs and a shared high-tech
community workshop.
                                                                                                                      “There are few projects in New
The redeveloped school addresses the need for quality schools while also helping fill the employment gap in
                                                                                                                      Orleans that meet as many revitalization
construction and design - both high paying fields. The project also brings investment and activity back to the
Broad Street corridor.                                                                                                objectives as the redevelopment of Israel
                                                                                                                      Augustine as BCC has envisioned it.”
Lastly, the redevelopment of the Augustine building will help the city policies achieve a number of its priorities,
including blight removal, coordinating investment around key public investments, and creating schools that also
serve as hubs for the surrounding community.                                                                          Jennifer Farwell, President
                                                                                                                      Mid-City Neighborhood Organization
There are few projects in New Orleans that meet as many revitalization objectives as the redevelopment of
Israel Augustine as BCC has envisioned it. I urge you to support Broad Community Connections’ proposal for
425 S Broad Street for the Chase Community Development Competition. Thank you for your consideration.

Sincerely,




Jennifer Farwell
President, Mid-City Neighborhood Organization



P.O. Box 791023                       New Orleans, LA 70179                      (504) 486-MCNO
BOARD OF DIRECTORS                       October 29, 2010
William Keeley - Chairman
Perez
                                         Lizette Terral
                                         President, New Orleans Region
Lenny Zimmermann - Vice Chairman         JPMorgan Chase, North America
Moses Engineering
                                         201 St. Charles Avenue, 27th Floor
Claire Nettles - Secretary
ABC New Orleans/Bayou Chapter
                                         New Orleans, LA 70170
Steve Cory - Treasurer                   Dear Ms. Terral:
Cory, Tucker & Larrowe, Inc.

Dwayne Bernal                            I am writing today in support of the redevelopment of the Israel Augustine School project
Royal Engineers
                                         to house the Priestley School of Architecture and Construction. I the board chair of the
Robert Boh                               local Architecture Construction and Engineering (ACE) Mentor program, which is
Boh Brothers Construction Company, LLC   launching its inaugural program with Priestly this year. Our board represents local
Kenneth Burrell                          industry leaders from architecture, construction, design and engineering, all of whom are
Billes Partners                          committed to seeing Priestley and its students succeed.
Bill LeCorgne
Woodward Design+Build                    ACE's mission is to engage, excite and enlighten high school students to pursue careers in
Robyn Marshall-Wallace                   the integrated construction industry through mentoring; and to support their continued        “...as a New Orleans design professional,
Nolmar Coorporation                      advancement in the industry through scholarships and grants. During the school year,
Dennis McSeveney                         industry professionals mentor high school students in order to introduce them to the          I realize the need to match our residents
UNO & Priestley Charter School Board     professions and encourage them to pursue studies and careers in these fields. In return,      with local construction and design jobs.”
Fred Myers                               the industry gets a much-needed boost of new talent.
FH Myers Construction Corporation

Jenny Pelc                               On behalf of ACE, I fully endorse this project. The Priestley school is serving one of the
Eskew+Dumez+Ripple                       most important populations in New Orleans – those that have been left behind by other
                                                                                                                                       William Keeley, Chair
                                         schools and programs and they need a stable home. Through my work in the ACE                  ACE Mentoring Project
Michael Rutledge
Salley, Hite &Mercer, LLC                Mentoring Program, I have seen first-hand the quality of work the Priestley School is
Jim White                                doing, and as a New Orleans design professional, I also realize the need to match our
Bernard Franks, CPA                      residents with local construction and design jobs. I believe this project has the potential
                                         to help us move closer to achieving those goals.

                                         We appreciate your interest in supporting this truly unique school. If you have
                                         any further questions, you may contact me at the number below or visit us online
                                         at www.acementor.org.

                                         Sincerely,


                                         William Keeley
                                         Perez, APC
                                         504.588.2161   ext. 5123
                                         Chair



                          ACE Mentor Program of Greater New Orleans
 317 Burgundy St. Ste 10 · New Orleans, LA 70112 · 504.588.2161· NewOrleansLA@acementor.org ·
                                      www.acementor.org
        Career Directions for Students in Architecture, Construction and Engineering
         October 22, 2010




         Lizette Terral
         President, New Orleans Region
         JPMorgan Chase, North America
         201 St. Charles Avenue, 27th Floor
         New Orleans, LA 70170

         Dear Ms. Terral:

         On behalf of The Idea Village, I would like to offer our support to The Chase Community
         Development Competition. We have worked successfully with MIT students in the past                                      “Educating future workforce and
         and enthusiastically endorse their involvement in this program to strengthen the local
         community while providing students a quality experiential learning opportunity.                                         entrepreneurial leaders beginning at the
                                                                                                                                 high school level is critical to sustaining
         Redeveloping the Israel M. Augustine Middle School building as a vocational charter
         high school will build capacity for skilled laborers in the construction trades and provide                             positive economic growth in the New
         living wage jobs for high school graduates. This will improve the overall business
         climate and connects directly with The Idea Village mission to identify, support and retain
                                                                                                                                 Orleans region.”
         entrepreneurial talent in New Orleans. Educating future workforce and entrepreneurial
         leaders beginning at the high school level is critical to sustaining positive economic
                                                                                                                                 Allen Bell, President/Co-founder
         growth in the New Orleans region.
                                                                                                                                 Idea Village
         Sincerely,




         Allen Bell
         President/Co-founder, The Idea Village




515 Girod Street, New Orleans, LA 70130 | p. 504.304.3284 | f. 504.304.3294 | innovation@ideavillage.org | www.ideavillage.org
Linking Educational Assets and Economic Development: 425 South Broad Street




2010 Chase Community Development Competition
November 2, 2010

Massachusetts Institute of Technology
School of Architecture + Planning

Project Advisor: Professor Karl Seidman
Senior Lecturer in Economic Development
Head, Housing Community and Economic Development Group
MIT Department of Urban Studies and Planning

Non-Profit Partner:
Broad Community Connections
Jeffrey Schwartz, Executive Director

Student Team:
(Name, Degree Program)
Timothy Bates, MCP
Anne Bowman*, MCP
Caroline Edwards*, MCP
Anne Emig, MCP
Amanda Martin, MCP
Sagarika Suri, SMArchS
Ann Woods, MArch
Aspasia Xypolia*, MCP
MCP: Master in City Planning
SMArchS: Master of Science in Architecture Studies
MArch: Master of Architecture

* LEED AP

				
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