Charleston Day School Renovates and Expands using JEDA Bond Financing
January 4, 2011
Charleston Day School Library, Science and Technology Center
CHARLESTON, SC – January 4, 2011 – Bond financing facilitated by the South Carolina Jobs-Economic Development Authority (JEDA) will help Charleston Day School expand its facilities in historic downtown Charleston.
An economic development revenue bond of $4.2 million will be used to meet a series of needs, including the construction of the approximately 13,000 sq. ft. Library, Science and Technology Center. Charleston Day School is a private, co-educational, non-sectarian school, which currently serves more than 200 students in grades 1 through 8.
The bond issuance will help maintain 38 existing jobs and create nine new jobs once the project at the school is complete. Charleston Day School was founded in 1937 in a carriage house on South Battery Street and today its campus is located on Archdale Street in the heart of historic Charleston.
“As we prepare for our 75th anniversary, Charleston Day School is educating more children than ever before. As a result, it became essential that we expand our facilities, and JEDA bond financing proved crucial in making that possible,” said Brendan J. O’Shea, Headmaster of Charleston Day School.
“Charleston Day School has been a vital part of our community for more than 70 years. By partnering with JEDA, Charleston Day School secured tax-exempt financing which will allow it to direct its resources to its core programs in the years to come,” said Bond Counsel Jeremy Cook, a Shareholder of Haynsworth Sinkler Boyd, P.A., in Charleston.
“Enabling educational institutions to transform themselves to meet the needs of our future generations is an especially good use of JEDA bond funding. This is a great project and we’re pleased we could help with its financing,” said Harry Huntley, Executive Director of JEDA in Columbia.
About JEDA
For more than 25 years, JEDA has promoted the business and economic welfare of South Carolina by assisting in the financing of public and private projects throughout the Palmetto State. JEDA serves as a statewide conduit issuer of special obligation revenue bonds and acts on behalf of the borrower to access financial markets and capital. Since its creation in 1983, JEDA has facilitated the issuance of 400 bonds totaling more than $7 billion and resulting in the creation of more than 25,000 jobs.
For more information regarding JEDA, please visit our website at www.scjeda.com or contact Harry A. Huntley, CPA, Executive Director, at (803) 737-0268 or [email protected].
