JEDA Bond Funding Helps Charleston Collegiate School Focus on Finances
CHARLESTON, SC — Bond financing facilitated by the South Carolina Jobs-Economic Development Authority (JEDA) is helping Charleston Collegiate School focus its finances on education.
The 41-year-old private, non-profit school will use the $1.75 million tax-exempt bond issue to refinance existing taxable debt incurred to finance expansion and improvements at its Johns Island campus.
Charleston Collegiate is the only co-educational, non-sectarian, pre-school through 12th grade institution in the Charleston region and has a minority enrollment of nearly 25 percent. Its service area also is diverse, as it attracts students from far-reaching areas such as Daniel Island, Mount Pleasant, Sullivan's Island, the Isle of Palms and Summerville.
The bond issuance helps maintain the employment of 36 existing staff members.
“Because of JEDA bond funding, we are able to save money on servicing debt and instead focus these resources on the education of our students,” said Hacker Burr, Associate Head of School at Charleston Collegiate.
“Unique schools like Charleston Collegiate play a vital role in the lives of the young people they serve. We feel privileged to be able to have some role in helping this institution better fulfill its mission,” said Bond Counsel Sam Howell of Howell Linkous & Nettles in Charleston.
“Refinancing existing debt at historically low rates is an ideal way for non-profit organizations and schools to improve their facilities and their operations. Helping them achieve their goals is a reason JEDA was created,” said Harry Huntley, Executive Director of JEDA.