Story: BUILD, Inc.
BUILD, Inc. is an experienced Chicago nonprofit organization that provides gang intervention, violence prevention and youth development programs in the city’s Austin neighborhood. It operates within schools as well block by block, throughout the community, offering educational and health programs and providing a safe space for young people facing often-difficult circumstances.
Broadstreet committed $5.5 million of LISC’s New Markets Tax Credit (NMTC) allocations, with JPMorgan Chase as the investor, to support the renovation of its long-time facility and adding 41,000 square feet of new space to create a campus that will offer physical and behavioral health services, arts and music programming, violence reduction programs, expungement support and job training in fields such as construction/carpentry, food services and data support.
Broadstreet financing is being combined with NMTC allocations from the Chicago Development Fund ($7 million), IFF ($6 million) and Chase New Markets Corp ($3 million).
- $5.5M NMSC NMTC Allocation
- 165 Projected Permanent Jobs Created
- 2,500 Projected Youth Served
BUILD helps prevent young people from getting caught up in the criminal justice system, teaches life skills, and focuses intently on education—working to keep kids in school and provide job training in growth fields that can support a good quality of life.
The new facility will multiply the number of young people served by 20 times, while also creating jobs and investing in the vibrancy of a community where double-digit unemployment endangers the social and economic well-being of families.
The new BUILD headquarters will serve 2,500 young people and support 165 full-time jobs while contributing to the long-term well-being of families and the surrounding community. More than 93 percent of nearby residents are people of color, and the median income in the community is just half of that for the metropolitan area.
Additionally, BUILD saves the community money by having youths entered into intensive mentoring instead of conventional incarceration. The average cost of incarceration for youth in Illinois are $187,765, compared to the average cost of mentoring with BUILD of only $2,000 (about 1% of the cost).