Laraway provides support to children who have been removed from the custody of their parents or public school. Their new campus creates an ideal setting to provide therapeutic and education supports in an agricultural setting. The NMTC financing at below market rates and terms saves the non-profit approximately $40,000 per year in debt service payments. The $3.4 million project allowed the youth services organization to increase enrollment, expand services, and add new employees. Before the expansion Laraway served 35 youth enrolled in its school program and employed 100. With its new facility Laraway has quadrupled the number of children served and increased employment by 50%.

Gap and Investment

Vermont Rural Ventures provided low cost permanent financing for Laraway Youth and Family Services’ new campus, comprised of a newly constructed school building and renovated barn on a 39-acre farm in Johnson. A combination of traditional and subordinate financing, along with NMTC equity, was used to finance the expansion.

Project TypeNon-Profit Financing
Project SponsorLaraway Youth and Family Services
NMTC Investment$3.4 million
Short descriptionCommunity facility expansion
Team: Non-ProfitLaraway Youth and Family Services
Team: LegalPrimmer Piper Eggleston & CramerF.L. Kochman, Inc.Cheney, Brock and Saudek, P.C.Downs Rachlin Martin PLLCNolan Sheehan Patten LLP
Team: AccountingCohnReznick LLP
Team: ArchitectJoseph Architects, Inc.
Team: ContractorConnor Contracting, Inc.
Financing PartnersCommunity National BankVermont Community Loan FundVermont Economic Development Authority