Published April 15, 2014
York Preparatory Academy recently closed on a $34.5 million bond issue through the S.C. Jobs-Economic Development Authority to permanently finance the acquisition of the charter school’s campus and facilities in Rock Hill.
The Series 2014 bond issue for the 42-acre, four-building campus is the first use of JEDA financing for public charter school expansion in South Carolina.
The financing was issued as $150,000 in taxable bonds and $34.35 million in tax-exempt bonds. The academy opened in 2010 and now serves about 1,300 students from kindergarten through 11th grade. A senior class will be added in the 2014-2015 school year.
“The expansion of public charter schools is a promising and exciting development across our state. Being able to leverage JEDA bond financing will help us do our part in York County,” said Jim Helms, York Preparatory Academy’s CFO.