The Pascua Yaqui Tribe is building a $7.8 million education center on Tucson's southwest side, creating 40 construction jobs and 60 permanent jobs.
The Pascua Yaqui Education Center, 5100 W. Calle Tetakusim, near West Los Reales Road and South Camino de Oeste, will be funded primarily through grants and tribal funds.
But the tribe said a financing gap remained, and that after breaking ground in December 2011 it was unable to begin construction.
This week the tribe announced that construction is under way as a result of $2.4 million in New Markets Tax Credit financing provided by Wells Fargo.
The New Markets Tax Credit program was created in 2000 and is administered through the Community Development Financial Institutions Fund by the U.S. Treasury.
It is meant as a catalyst to encourage investment of private equity capital in low-income communities and allows taxpayers, such as Wells Fargo, to receive a credit against federal income taxes for making equity investments.
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The nearly 40,000-square-foot, two-story education center will provide instruction for multiple generations, including secondary students, GED and adult continuing-education students, says a news release from Travois New Markets, which helped secure the funds for the tribe.
The center will include an extensive library and resource center, a technology-based education program and a cultural preservation center. It will also host community events.
The Pascua Yaqui Tribe saw a great need for the center as its students lag behind their counterparts in other ethnic groups in literacy and math, the news release said.
"Education is very important to our tribe," said Francisco Valencia, Tribal Council secretary. "Being able to build an education center is exciting and long overdue."
The center will open and begin serving tribal members early next year.
"New construction and permanent jobs will result from the development and opening" of the center," said Travois Vice President of Economic Development Phil Glynn. "Perhaps more importantly, the educational opportunities the center provides will help generations of tribal members fill and create the new jobs of the 21st century."
DID YOU KNOW?
In November, the Pascua Yaqui Tribe opened the Casino del Sol Resort, Spa and Conference Center - a $130 million expansion of its Casino del Sol - at 5655 W. Valencia Road.
Tax credit program
For more information on the New Markets Tax Credit program, go to http://cdfifund.gov/what_we_do/programs_id.asp?programID=5
Contact reporter Alexis Huicochea at ahuicochea@azstarnet.com or 573-4175.
