A loan guarantee made possible by Jubilee Fund investors helped ensure a non-profit had a home to provide daycare spaces with flexible hours.
River Area Co-operative Day Nursery Inc. (RACD) was founded in 1974 as a non-profit pre-school child care facility in Winnipeg’s Mayfair “Island Area” near The Forks. It is licensed by the Province, operating as a cooperative and providing both evening and shift care.
RACD was on Mayfair Avenue since 1985, in space attached to the administration building of Macdonald Youth Services. In 1998, RACD began to develop a partnership with the landlord to provide an expansion of services. A joint capital campaign was undertaken in 2000 with Macdonald Youth Services to purchase their site and expand their services. However, in early 2004, Macdonald Youth Services advised they would not pursue the building project further. The landlord also informed them they would be unable to renew their lease beyond April 2007.
Upon hearing the news, RACD formed a committee to look at alternatives. They were successful in obtaining land at 127 Bell Street from the City of Winnipeg for $1, and managed to raise $975,500 ($500,000 from government and community grants, monies set aside by RACD for the project, and a $320,000 mortgage). A loan guarantee made possible by Jubilee Fund investors helped finance construction of a new facility for RACD at a cost $1,256,930. They held their official grand opening in August 2009, continuing to provide much-needed child care for Winnipeg families.
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