- Create stability for their clubhouses in two of New York's boroughs
- Largest provider of after-school programs in the NYC area
- Six Clubhouses open to young people ages 6 to 18
- Daily after-school programming from 3:00pm until 9:00pm
NCIF: $4MM loan participation
Asian Bank: $2MM (sub-participation)
Lead Bank: Carver Bank: $7MM
Madison Square Boys & Girls Club (MSBGC) is the largest provider of after-school programs in the NYC area. This project helps create stability for their clubhouses in two of New York's boroughs. Brooklyn’s name is derived from the Dutch village of Breukelen and was an independent city up until 1898. Points of interest include Brooklyn Botanic Garden, Coney Island, and the Barclay’s Center the home stadium for NBA Brooklyn Net’s. Demographically, Brooklyn’s neighborhoods are still segregated along racial, ethnic, and religious lines. Overall, the southwest half of Brooklyn is racially mixed although it contains few black residents; the northeast is mostly black and Hispanic. Since the start of the 21st century, Brooklyn has experienced a resurgence as a destination for bohemian communities with concurrent gentrification and consequent increases in housing prices with concurrent decrease in housing affordability.
The Bronx contains Congressional District 15, the poorest congressional district in the US. Parts of The Bronx saw a steep decline in population, livable housing, and quality of life in the late 1960s through the early 1990s, climaxing in the wave of arson in the late 1970s. The South Bronx experienced severe urban decay. Since then, the borough has begun experiencing new population growth starting in the late 1990s and continuing today.
The benefit to the community with this loan is creating stability for the MSBGC who are the largest provider of after-school programs in the NYC area. Madison Square has six Clubhouses open to young people ages 6 to 18 and offer daily after-school programming from 3:00pm until 9:00pm. During that time, members participate in a variety of enrichment, social and recreational activities that focus on Academic Success, Good Character & Citizenship, and Healthy Lifestyles.