Diocese of Charleston Leverages JEDA Bonds for Columbia, Ridgeland Schools
Charleston, SC — Charleston County
The Catholic Diocese of Charleston is financing major school projects in Columbia and Ridgeland through $25 million in tax-exempt bonds issued through the South Carolina Jobs-Economic Development Authority (JEDA).
“The ability to access such favorably priced financing through JEDA has enabled the Diocese to do more sooner to meet the growing educational needs of the communities we serve.”
— John Barker, Chief Financial Officer for the Diocese of Charleston
The Series 2015 economic development bonds will be used for the new Cardinal Newman Catholic School campus now under construction in northeast Columbia. It is scheduled to open in the fall. The bond will also help build a new athletic center for John Paul II Catholic School in Ridgeland. This facility will consist of a competition basketball court, volleyball court, male and female locker rooms as well as flexible space for arts or instructional activities.
The two schools currently employ a total 71 people. Officials expect six new jobs to be created within 24 months of the projects’ completion.
“Helping the Diocese of Charleston through the process of securing tax-exempt financing has been an honor and a privilege, and I look forward to seeing the fruits of their labor emerge in the form of robust, new facilities at two of the Diocese’s schools,” says Jeremy Cook, Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Charleston.
“Financing school construction and renovation projects is a particular point of pride for JEDA. We’re always pleased to have a role in providing quality education to children across South Carolina,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.
