Proposed Funding Sources
We expect to fund the aggregate $6 million project budget from three principal sources.
First, the Parish of St. Peter Claver Church, which is the owner of Claver Castle, will invest $2.5 million in its renovation.
Second, approximately $2.2 million of equity funding will be provided under Federal and State tax-credit financing programs that support community facilities in developing areas and the preservation of historically significant properties.
Third, we seek to raise $1.3 million from our families, friends and other supporters. As of November 30, 2010, we are grateful to have received donations and pledges exceeding $1.1 million, with 100% participation of our Board of Trustees, Faculty and Administration Staff.