Holyoke, MA – MassDevelopment has issued an $8.5 million tax-exempt bond on behalf of Holyoke Community Charter School (HCCS), a public charter school serving students in kindergarten through grade eight.
The school will use bond proceeds to build and equip a 20,000-square-foot addition to its existing 85,000sf school building that will house a gymnasium, classrooms, restrooms, and space for storage and utilities. TD Bank purchased the bond.
Founded in 2005, Holyoke Community Charter School enrolls approximately 700 students in grades K-8. The mission of HCCS is to promote the joy of learning and to prepare children for success as students, workers, and citizens by providing them with a high-quality public education and striving to prepare them to enter colleges and universities that are of the best quality.
At HCCS, 89% of the students are Latino, and 67.5% of students are economically disadvantaged. The school provides dedicated departments for special education and English language learners as well as an accelerated curriculum for advanced students. It contracts with the SABIS Educational System to manage operations of the school.
MassDevelopment has previously supported Holyoke Community Charter School. In 2005, the agency issued a $5.6 million tax-exempt bond for the original purchase, renovation, and equipping of HCCS’ existing school building, and provided a $250,000 loan for technology equipment. In 2008, the agency issued an $8.4 million tax-exempt bond, enhanced with a charter school loan guarantee, to help HCCS refinance previously issued debt.