MassDevelopment has issued $4.26 million in tax-exempt bonds on behalf of Friends of the Pioneer Valley Performing Arts Charter School Inc., a related entity of the Pioneer Valley Performing Arts Charter Public School in South Hadley.
The school is using bond proceeds to build an 8,000-square-foot multipurpose addition, which it will use for gatherings and performances, as well as to install equipment at its existing facility. Bond proceeds will also refinance a previous MassDevelopment bond, which helped fund the purchase and renovation of the 48,000-square-foot school building.
MassDevelopment estimates the project will create nine construction jobs. Florence Savings Bank purchased the bonds.
"By partnering with the Five-College Consortium in the Commonwealth’s Knowledge Corridor, PVPA offers its students an exceptional amount of learning opportunities from a variety of Massachusetts colleges," MassDevelopment President and CEO Marty Jones said in a statement. "This low-cost financing will help the School expand its offerings for its students."
Pioneer Valley Performing Arts Charter Public School is a regional public charter school serving grades seven through 12.
