Boston Collegiate Charter School Adds to, Renovates Campus with MassDevelopment Bond
April 3, 2018
FOR IMMEDIATE RELEASE
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
Bethany Guen, Boston Collegiate Charter School, 617-282-6710 Ext. 204
Andrea Goodman, Eastern Bank, 781-598-7847
MassDevelopment has issued a $7.2 million tax-exempt bond for Boston Collegiate Charter School (BCCS), a charter school in Boston’s Dorchester neighborhood. BCCS will use bond proceeds to expand the school’s Mayhew Campus, which hosts its middle and high schools, with a 11,200-square-foot classroom building and a 3,100-square-foot multi-purpose space. The School will also use proceeds to renovate its existing building, including enhancing accessibility to the new multi-purpose space and making various interior and mechanical system upgrades. Eastern Bank purchased the bond.
“MassDevelopment is pleased to provide this tax-exempt financing to BCCS, which will allow the school to expand with new space for students to exercise their minds and bodies,” said MassDevelopment President and CEO Lauren Liss. “We look forward to seeing the impact of the school’s updated facilities, including new classrooms, rehearsal space, performance venues, and athletic features, in the years to come.”
“We are proud of our partnership with Boston Collegiate Charter School, providing creative ways to finance their expansion and support their mission of providing all their students with an opportunity to attend college,” said Pamela Feingold, Senior Vice President of Community Development Lending for Eastern Bank.
BCCS launched in 1998 and serves 700 students in grades five through 12 on two separate campuses in Dorchester. The school’s mission is to prepare each student for college. BCCS hosts a diverse student body, as 52 percent of its students are non-white, one in five receive special education services, and about one-third speak English as a second language. In April 2017, U.S. News and World Report ranked BCCS the 13th -best high school in Massachusetts.
“We are thrilled to have access to resources through MassDevelopment and Eastern Bank that will enable us to provide a truly college-preparatory public education,” said BCCS Executive Director Shannah Varón.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2017, MassDevelopment financed or managed 377 projects generating investment of more than $4.3 billion in the Massachusetts economy. These projects are projected to create about 9,488 jobs and build or rehabilitate 1,863 residential units.