Prestamos CDFI, Raza Development Fund, and JPMorgan Chase Partner to Invest $24.5 Million in Rebuilding Efforts, Creating Jobs and Expanding Educational Opportunities for Uvalde's Children

UVALDE, Texas — December, 16, 2024 — Two and a half years after the tragic school shooting in Uvalde, TX, which claimed 22 lives and devastated the nation, the local community has secured the final funding needed to build a new, state-of-the-art elementary school for the region’s children. The new school, to be named Legacy Elementary School, will serve as a lasting symbol of resilience and hope.

This funding was made possible through a combined $24.5 million investment from Préstamos CDFI, LLC, a division of Chicanos Por La Causa (CPLC) one of the largest community development corporations in the country, and Raza Development Fund (RDF), the nation’s leading Latino-focused nonprofit lender and a support corporation to UnidosUS, the largest Latino civil rights organization in the country, and JPMorgan Chase.

"The new elementary school is not just a building—it's a symbol of resilience, hope, empowerment, and opportunity. We are committed to the continued healing and future of the brave people of Uvalde," said Jose Martinez, President of Préstamos CDFI and Executive Vice President of CPLC, which is also a founding affiliate of UnidosUS. "Some of our staff were directly impacted by the tragedy, and they continue to embrace and support the local community. We are humbled to have the opportunity to create long-lasting impact through the financing of such significant projects that improve access to quality education and community resources. We are inspired by the community working together to build a new future for their children.”

Prestamos contributed $13 million, RDF provided $8 million, and JPMorgan Chase is contributing $3.5 million to support the $62 million project. All three investments were made through New Markets Tax Credits (NMTCs), a federal program designed to encourage private investment in underserved areas.

“Uvalde’s strength lies in its resilient community. Throughout this healing journey, RDF and UnidosUS have collaborated with local leaders to support rebuilding efforts,” said Janet Murguía, Raza Development Fund Board Member and UnidosUS President and CEO. “This community-led initiative to construct a new school for its students symbolizes a significant step towards healing and hope for Uvalde’s families.”

The NMTCs were critical in closing the funding gap for the new elementary school in Uvalde, where approximately 80 percent of the population is Latino. The Uvalde Consolidated Independent School District, home to Robb Elementary School, where the May 24, 2022 shooting happened, was constrained by the rural region’s limited economic resources and struggled to raise enough funds for the project. To address this challenge and prioritize the community’s healing, the Uvalde CISD Moving Forward Foundation—a nonprofit established after the shooting to ensure students and staff would not have to return to the site of the devastating events—stepped in to accelerate the process and secure the necessary funding.

“We are honored to support the Uvalde CISD Moving Forward Foundation in the development of a new school for the Uvalde, Texas, community,” said Melissa Pillars, Executive Director on the New Markets Tax Credit team at JPMorgan Chase. “We know there is still healing to do given the profound impact left by the tragedy. The collaboration of the Uvalde community has been integral to the design and vision of this new school, ensuring that this space will truly meet the needs of the students, families, and educators. We look forward to the day when this school will be a nurturing home that will foster both learning and community spirit for its students under one roof.”

The new school, which broke ground in February 2024, is designed with brain research and trauma informed care in mind and will serve 800 students in grades 2 through 4, the majority of whom are Latino. It will focus on both academic excellence and emotional well-being, offering mental health resources, STEM classrooms, and a variety of extracurricular activities. The facility will include an academic wing, library, dining hall, gymnasium, and state-of-the-art safety features, providing a secure and supportive environment for Uvalde’s children. The project will create 350 temporary jobs during construction and retain 118 permanent jobs once the school opens in the Fall of 2025.

“We are excited and hopeful about the potential for Legacy Elementary and the hope it brings to Uvalde. Our community has been through so much and this new school is representative of all the love and support we have received from around the country and around the world,” said Natalia Arias, Co-Chair of the Uvalde CISD Community Advisory Committee and a parent at the local school. “Our students deserve to be in school— safe, happy, and learning every day and we are so excited to see what the future hold for the children of Uvalde thanks to the generosity of others."

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About Prestamos CDFI, LLC

Prestamos CDFI is a Community Development Financial Institution and a Community Development Entity that provides small business loans and high-quality technical support services to its clients. Prestamos partners with the most recognized organizations in our target market including the CDFI Fund, U.S. Small Business Administration, National Association for Latino Asset Builders, SCORE, and State, County and Local Economic Development Authorities. Prestamos CDFI is an equal opportunity provider.

About Raza Development Fund

Raza Development Fund (RDF) is the largest national, Latino-focused nonprofit Community Development Financial Institution (CDFI). Driven by a mission to close wealth and opportunity gaps in Latino and other under-resourced communities across the United States, RDF provides responsible and attainable financial solutions to community-based organizations focused on health, education, affordable housing, climate resilience, homeownership, and entrepreneurship. RDF was founded in 1999 as a support organization to UnidosUS, the nation’s largest Hispanic civil rights and advocacy nonprofit, formerly known as the National Council of La Raza. As a testament to its exceptional financial strength and impact, RDF stands out as one of the few CDFIs with a prestigious AA- S&P rating. Since its inception, RDF has invested more than $1.5 billion across 38 states and Puerto Rico leveraging over $6 billion in additional capital.

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