MassDevelopment Financing Helps Franklin Charter School Build New Facility
June 19, 2018
FOR IMMEDIATE RELEASE
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
Joanne Basile, BFCCPS, 508-541-3434 x140
Image credit: Arrowstreet and Copley Wolff Design Group
MassDevelopment has issued a $24,550,000 tax-exempt bond and provided a charter school loan guarantee for Benjamin Franklin Classical Charter Public School (BFCCPS), an educational institution that serves kindergarten to eighth grade in Franklin. BFCCPS will use bond proceeds to relocate to 10 acres of land at 500 Financial Park in Franklin, where the school will build a 77,500-square-foot, two-story school building, parking lots, and athletic fields. The school will also buy furnishings, fixtures, and equipment. Citizens Funding Corporation, a subsidiary of Citizens Bank, purchased this bond.
"Benjamin Franklin Classical Charter Public School serves a diverse range of students from 12 surrounding communities and administers a unique academic program that focuses on integrated character education," said MassDevelopment President and CEO Lauren Liss. "MassDevelopment is happy to provide the financing the school needs to improve its facilities and continue providing a well-rounded curriculum to its students."
BFCCPS stresses an inclusive, vibrant learning environment that celebrates diverse backgrounds and teaches the importance of serving the greater community. The staff at BFCCPS believes that in order to educate a child, it is important to educate the whole child; therefore, the school’s rigorous academic program is combined with the idea that who you are is as important as what you do. Students at every grade level are required to participate in community service, and parents are encouraged to extend this involvement outside of school hours. The role of the parents as primary educator is essential at BFCCPS, and the school stresses that an important part of education takes place outside of the classroom. BFCCPS has won notable awards and recognitions over the years, including the 2011 Massachusetts School of Character and National School of Character Award, and the 2014 and 2015 Supsie Merit Awards. The school was also named one of the Best Communities for Music Education in America from 2007 to 2010. BFCCPS offers yearlong courses in art, music, languages, technology, and physical education to ensure well-rounded learning.
"This is an exciting time in the history of the Benjamin Franklin Classical Charter Public School," said BFCCPS Head of School Heather Zolnowski. "The new facility and grounds will provide the administration and faculty with the opportunity to enhance an already very successful academic program, provide a comfortable and safe environment for students, faculty and staff, and secure the school’s future for decades to come."
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.