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Historic Tax Credits Help a Nonprofit Provide Affordable Education for Mississippi Students

July 20, 2020 Water Valley , MS

Enhanced Capital’s financial support has enabled Base Camp Coding Academy (BCCA) to continue its mission of addressing Mississippi’s need for more jobs and affordable education. BCCA is transforming a vacant historic building into a first-of-its-kind computer coding and distance learning facility called Everest through a $6.9 million redevelopment project. Enhanced Capital is proud to participate in economic development projects, such as Everest, to make a positive impact in various communities nationwide.

BCCA, an education non-profit in Water Valley, is making a considerable impact in Mississippi by providing free twelve-month software development programs to under advantaged, strong-minded students, to prepare them for a successful career in a competitive job market. BCCA offers access to post-high school workforce training and STEM (science, technology, engineering, and mathematics) education in a state with a shortage of job opportunities and a 23% unemployment rate. Enhanced Capital supported BCCA’s Everest project with $2.0 million in tax equity and debt funding through federal and state Historic Rehabilitation Tax Credits.

“Rural communities face opportunity challenges at every level. Geographic isolation, limited tax revenues, talent flight of our youth, and the shortage of investment capital that might help address these challenges. Everest demonstrates what is possible when organizations like Enhanced Capital and Base Camp Coding Academy collaborate, bringing their complementing resources and skills to bear on these persistent rural challenges,” said Kagan Coughlin, co-founder and trustee of BCCA and Everest.

Located in a former textile manufacturing facility at 802 Central Street, Everest is in a historic district known as the Water Valley Main Street. Everest will be the new location for a scaled-up version of BCCA in conjunction with Northwest Mississippi Community College and is scheduled to open in September of 2020. Any Mississippi student nominated by a teacher in their senior year of high school is eligible to apply to BCCA. All accepted students receive a full scholarship along with meals and commuting assistance, funded by sponsorships from private and corporate entities.

About Base Camp Coding Academy

Located in Water Valley, MS, the non-profit Base Camp Coding Academy (BCCA) is a hands-on, challenging and fun program, designed to train recent high school graduates to be software engineers. In a small classroom setting, students work with real world technologies to learn the fundamentals of coding, app development and the life leadership skills they will need to be successful in their career and competitive in the job market. The year-long program is free to students thanks to the support of Sustaining Sponsors including the MorganWhite Group, CoreLogic, Renasant Bank, CSpire, and FedEx and aims to help address the private sector’s historical shortage of high-tech skilled labor by training local youth to fill the positions. Every year, Mississippi has 1,200 unfilled computing jobs and less than 200 computer science graduates.