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STEM Charter School To Expand New Campus With MassDevelopment Bond

Mar 26, 2014 | Reprints | Unlock Link | Print

MassDevelopment has issued a $2.8 million tax-exempt bond on behalf of the Charter Schools Development Corp. (CSDC).

CSDC is a community development financial institution that helps start-up and early-stage charter schools finance, build and expand their facilities. CSDC is using bond proceeds for its purchase of a campus it will lease to the Pioneer Charter School of Science II (PCSS).

Pioneer Charter School of Science II, which was chartered in 2013 to serve seventh through 12th grades, will replicate the existing PCSS I in Everett, a school focused on science, technology, engineering and mathematics.

In the project’s first year, PCSS II will enroll 180 students, with subsequent additions planned to house the school’s ultimate enrollment of 360 students in Saugus. East Boston Savings Bank purchased the bonds.

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