Foreign investors seeking a direct route to the United States of America via the EB-5 immigrant investor program are offered a unique opportunity to invest as little as US$500,000* in a first-rate American Public Charter School project. The investment will take the form of a secured loan made to Building Hope, a not-for-profit company based in Washington D.C. which has participated in the development of over 200 projects, with over US$200,000,000 invested since 2003. Once built, the project will be managed and operated by River City Education Services, Inc.
In the form of a subsidy per student, River City Education Services, Inc. will receive a source of steady income from local and state governments to cover for the school operating costs. As they do for all public schools across the state, the government will remain responsible of overseeing the financial and academic performance of the school, to be known as “River City Science at Mandarin Charter School”
Description and Location of the School
River City Science at Mandarin Charter School is being built to accommodate a new charter school (grades K-8).The developer will remodel an existing building to open in August 2016 (Phase 1) and will build an extension to open in August 2017 (Phase 2). The school is located at 10911 Old St., Augustine Road, Jacksonville, Duval County. After completion of Phase 2, the school will be 55,000 square feet in total and accommodate up to 850 students.
* Plus management and legal fees
Total estimated cost:
13.278 Million US$
Amount invested by the developer:
5.778 Million US$ (43.18%)
Loan from Investors:
7.5 Million US$ (56.82%)
Number of investors:
EB-5 Visa’s Job Creation Requirement:
226 jobs (15 jobs per investor) reached (50% exceeding)
Amount: $500,000 US$
Management Fees: 45,000 US$ (excluding Legal fees & Application fees)