Chicago Mayor Rahm Emanuel visits UNO Charter School

7 Sep 2012

Chicago Mayor Rahm Emanuel payed a visit to parents, students and faculty of UNO Marquez to show his support for the charter school and its progressive steps towards education reform. UNO has recently enacted the Mayor's vision of increasing the length of school day and school year for Chicago youth.

Chicago Mayor Rahm Emanuel payed a visit to parents, students and faculty of UNO Marquez to show his support for the charter school and its progressive steps towards education reform. UNO has recently enacted the Mayor's vision of increasing the length of school day and school year for Chicago youth.

In 2012, Local Initiatives Support Company (LISC) offered New Markets Tax Credits to refinance approximately $12.1 million of debt for the progressive charter school. $15 million in NMTC allocation authority provided a custom product featuring non-traditional/favorable terms included: below-market interest rate; lower than standard origination fees, higher that standard loan-to-value ratio, longer than standard amortization period, longer than standard interest-only payment period and lower, standard loan loss reserve and nontraditional forms of collateral. If the loan were not refinanced and went into default, the school facilities could have be at risk and forced to close. Without the NMTC financing, it was unlikely that the entire $62.0 million could be refinanced, which could have a negative impact on UCSN’s overall long-term viability.

The UNO Charter School Network (UCSN) was established in 1998 to relieve overcrowding and provide quality educational opportunities in Chicago’s Hispanic neighborhoods. UCSN operates nine schools under a single charter that serve 4,416, predominantly Hispanic, students. UNO is the largest Hispanic organization in the region, serving over 20,000 individuals annually in the areas of education, parent involvement, health care, immigration, leadership and economic development.

The following recap of Mayor Emanuel to UNO highlights the vitality of UNO Charter Network to the future of Chicago children:

“We need to provide our children with the quality education they deserve,” said Mayor Emanuel. “Lengthening the school day and year at the Chicago Public Schools will give our students the tools they need to excel in school and succeed in a modern economy.”

“The quantity of instruction can mean the difference between a high school dropout and a college graduate,” stated CPS CEO Jean Claude Brizard. “As Mayor Emanuel has attested, a Chicago student's peer in Houston will receive the equivalent of four additional years of instruction by the time he or she graduates from high school. It is unacceptable for our students to face this sort of disadvantage.”

Longer school days and years already exist in some of Chicago’s most effective charter schools, such as Marquez School, which is one of the UNO charter schools. Additional instructional time will give Chicago’s students the education and skills they need to achieve in the classroom and beyond.

During the roundtable discussion at today’s event, Sylvia Garcia, the parent of a fifth grader at Marquez, was adamant: "Longer school days and years keep our kids in a safe environment while learning. Plus, we live in a global economy; more instructional time gives our kids the ability to succeed."

Emily Wilson, a kindergarten teacher at UNO’s Rufino Tamayo School, gave her perspective on teaching during a longer school day: “We do what's best for our kids,” she said. “Longer school days are a practical decision. We are here to prepare our kids to be better citizens and to acquire knowledge.”

Seventh grader Lonnie Wilson spoke up to say, “Longer school days give kids who need extra help more time for it. They also give kids the opportunity for educational and personality growth.” Fifth grader Andrea Martinez enthusiastically added, “Longer school days mean more learning time, which helps kids succeed.”

Mayor Emanuel praised school administrators, principals and teachers throughout the UNO school system for their efforts on behalf of students.

“We cannot afford to deny students days, weeks and years of opportunity,” said Mayor Emanuel.

Article Type: News