Technical Assistance Success Stories | EPA #560F22307 March 2022 Planning for Sustainable Brownfield Redevelopment MCCURDY MINISTRIES = ESPANOLA, NM - (EPA REGION 6) SITE STATISTICS • Community: Espanola, New Mexico • Local project lead: McCurdy Ministries • Former use: McCurdy Ministries Community Center • Future use: Redesigned community center campus to expand after school, preschool, counseling, summer camp, and youth programs • Brownfields technical assistance: Funding/financing analysis for site reuse PROJECT BACKGROUND At more than 100 years old, McCurdy Ministries Community Center (McCurdy) is a United Methodist National Mission Institution that provides after school programming, preschool, mental health counseling, summer camps, and youth programs in Espanola, McCurdy also offers aduit education, high school equivalency, literacy coaching, and volunteer opportunities for mission trips. Nine buildings on the central portion of the campus are past their useful life, and previous environmental investigations of the buildings have identified asbestos-containing building material (ACBM), lead-based paint, and mold issues. PROJECT CHALLENGE McCurdy Ministries needed help to (1) understand the total cost and timing of construction to match expected costs with sources of funds and (2) identify additional financing opportunities to complete the project. HOW EPA HELPED In 2021, the U.S. EPA's Office of Brownfields and Land Revitalization (OBLR) provided technical assistance (TA) to support McCurdy Ministries by: • Creating a Sources and Uses Tracking Tool that will allow McCurdy to assess the overall sources and uses of funds on a quarterly basis to determine if any future funding gaps exists. • Building an Operating Pro Forma for the redeveloped campus to assess how much money could be available to service future debt obligations. • Moderating a Funding Strategy Work Session to present to McCurdy Ministries' Public-Private-Partnership team the current funding gap and to brainstorm potential new sources of funds. • Preparing a list of potential financing sources, including New Market Tax Credits, 2: Proposed campus Master Plan solar and sustainability subsidies, and U.S. Department of Agriculture loans. COMMUNITY'S NEXT STEPS • Use the TA products to support future capital campaigns, focusing on the points in time where funding gaps are anticipated. • Update the tools as development and operational budgets are refined and specific sources of funds are committed to help inform project financing decisions. Questions? Please contact EPA Region 6: Denise Williams Figure 3: Rendering of Proposed Campus .AMAKKHOS ¦ C2 KWJSTWfWCIlLUiM® BEIRUT! D McCMCHNClM C-COUHKL ------- |