Debbie Allen Dance academy

overview

Location: Los Angeles, CA

Client Partner: Debbie Allen Dance Academy

Rise’s Role: Financial Advisor

Size: 24,000 sq ft

Sources:

• Capital Campaign Funds

• New Markets Tax Credits

• Bridge Debt

Project summary

Debbie Allen Dance Academy (DADA) is a minority and woman-led nonprofit organization that offers professional and rigorous training for young dancers in over twelve forms, artistic development for professional dancers, and youth-focused outreach and education initiatives in Los Angeles, California. DADA is committed to expanding the reach of dance and theater arts with the hope of enriching, inspiring, and transforming the lives of its students. This relocation and expansion of the Academy triples the square footage, doubling the student enrollment capacity, increasing outreach and accessibility for low-income students, and expanding programming for seniors, cancer patients/survivors, and other diverse community members.

Rise’s strategy & solution

Rise provided financial advice, structured the financing transaction, raised capital (debt and NMTCs) and ensured that each of the financial tools (debt, NMTCs, grants) could seamlessly work together. Rise worked with all parties to ensure a smooth closing, and continues to work closely with DADA and other relevant parties on construction administration, reporting, and compliance obligations.