A MassDevelopment tax-exempt bond of $25.45 million will assist KIPP Lynn Fund Inc. in the purchase and renovation of an industrial office building in Lynn.  

This 120,000-square-foot building at 20 Wheeler St. will host students of KIPP Academy Lynn Collegiate High School and will be one of three KIPP Lynn’s schools.  

About 75,000 square feet of the space will be occupied by the high school, and 45,000 square feet will be used for KIPP Lynn administration facilities and leasable office space. Citizens Bank purchased the bond.  

KIPP Massachusetts serves more than 2,000 students and more than 650 alumni.