San Francisco Federal Reserve Bank Los Angeles, California July 10, 2003

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San Francisco Federal Reserve Bank Los Angeles,
CaliforniaJuly 10, 2003

• Presented by
• Carla Dartis, Program Officer
• David and Lucile Packard Foundation
• Robin Hughes, Executive Director
• Los Angeles Community Design Center
• Noni Ramos, National Child Care Director
• Low Income Investment Fund
• Judy Spiegel, Vice President
• California Community Foundation

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• AbCd goals
• Build a comprehensive and sustainable financing
  system for quality child care facility
  development in California
• Utilize existing organizations and adapt a proven
  model drawn from the affordable housing
  development system
• Impact a minimum of 15,000 child care spaces
  within the first 5 to 7 years of operation

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• Strategy One
• The ABCD Fund
• Technical assistance in financial packaging
  services, grants and loans for child care
  centers, feasibility planning, acquisition and
  construction costs, and long-term real estate
  financing needs
• Available statewide.
• Services and products managed by the Low Income
  Investment Fund.

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• Strategy Two
• ABCD Development Assistance
• Use expertise of regional community developers to
  increase construction of child care facilities
  within educational, health, and housing
  facilities.
• Initial Partners Bridge Housing, Child
  Development, Inc., Community Housing Works of San
  Diego, Los Angeles Community Design Center, Mercy
  Housing California.

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• Strategy Three
• ABCD CONNECTIONS
• Local and/or regional collaborations of child
  care and community economic development
  stakeholders
• Goal to strengthen the facilities development
  expertise of child care center operators and
  intermediaries and to improve the regulatory and
  funding environment for construction of child
  care facilities

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• Strategy Four
• ABCD Campaign to Sustain Child Care
• New coalitions of representatives from unlikely
  sectors (e.g. real estate developers, financial
  services) to advocate for increased child care
  program operating subsidies from state and local
  governments

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• Measures of Success
• Numbers of new and diverse partners such as
  employers, labor unions, health care providers,
  housing owners to provide sites or other
  resources
• Increased numbers and ability of child care
  operators to develop child care centers
• Increased public and private capital investments
  in child care
• Institutional capacity to significantly increase
  the number of licensed quality child care spaces
  in California

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• Funding Partners (current)
• Bank of America
• California Community Foundation
• David and Lucile Packard Foundation
• First 5 State Commission (tentative)
• Freddie Mac
• JP Morgan Chase
• Providian Bank

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• Leveraging Opportunities
• 3 million in grants committed for staffing and
  small planning grants have already leveraged
  another 1.2 million in planning grants for
  facilities, and another 3 million in
  consideration to fund ABCD Connections (7.2M in
  grants)
• 14 million in low cost loans to leverage another
  42 million in low cost capital for facilities
  investments for the ABCD Fund. (56M in loans)
• 1 million in grants needed to cover 2nd and 3rd
  year staffing costs under ABCD Development
  Assistance.

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• To follow-up and learn more,
• please contact
• Noni Ramos, LIIF [phone], ext. 319
• Fran Hereth, LACDC,[phone], ext. 32
• Judy Spiegel, California Community Foundation
  [phone]
• Carla Dartis, David and Lucile Packard Foundation
  [phone]