Hyannis, MA – Sturgis Public Charter School will use $9.75 million in bond proceeds to build a 46,000sf, two-story academic building to meet growing demand to attend an International Baccalaureate high school. Sturgis expects the project to create 50 jobs, and TD Bank and The Property & Casualty Initiative purchased the bonds.
Cape Cod Lighthouse Charter School will use $3.96 million in bond proceeds to buy the former Regal Harwich Cinemas and convert it to an academic facility. The renovation project includes dividing the theaters on the first floor into roughly 18 classrooms, a main office, a large multi-purpose common space, and bathrooms. Eastern Bank purchased the bonds.
Both financing packages include Qualified School Construction Bonds, created by the American Recovery and Reinvestment Act of 2009 with a 100 percent federal subsidy. The Massachusetts School Building Authority allocated bond authority to MassDevelopment to issue these bonds for school construction, renovation, and rehabilitation projects.
Cape Cod Lighthouse Charter School is a public middle school serving 228 students in grades 6-8. The School was one of the first 14 charter schools approved in Massachusetts and opened its doors in September 1995.
MassDevelopment Helps School Expansion
Hyannis, MA – Sturgis Public Charter School will use $9.75 million in bond proceeds to build a 46,000sf, two-story academic building to meet growing demand