Charter School Facilities Projects Backed by USDA Rural Development Loans

Charter schools received millions of dollars in loans through the U.S. Department of Agriculture’s Rural Development Community Facilities Loans and Grants program, including about $3.8 million for projects in Hawaii, $2.8 million for a project in Delaware, and $2 million for a school in Massachusetts.

A $3 million direct loan sought by Friends of Kona Pacific Public Charter School on Hawaii will support purchase of the current Kona Pacific Public Charter School campus and construction of new classroom buildings, according to USDA officials. The 40-year loan’s interest rate is 3.75 percent.

The drawings above show the basic design of three new buildings that will be added to the Kona Pacific Public Charter School campus on Hawaii, which is now composed of a ring of five cottage-like structures, similar to the one in the photo. The new buildings, supported by a U.S. Department of Agriculture Rural Development facilities loan, will provide an additional 6,000 square feet of classroom space and 1,000 square feet of existing classroom space will be remodeled to accommodate offices and group instructional space at the school located on a roughly 38-acre site that includes a dormant 8-acre farming operation that school leaders plan to revive and integrate into the program of the planned K-8 school, according to school Executive Director Christ Hecht. Images: Courtesy of Kona Pacific Public Charter School.

Also on Hawaii, in Kailua Kona, a direct loan of $834,349 sought by Innovations Public Charter School Foundation will support the purchase of the current Innovations Public Charter School and expansion of school buildings. The 40-year loan’s interest rate is 4.25 percent.

In summer 2011, construction started on a 19,000 square-foot expansion of MOT Charter School in Delaware that is supported by a $2.8 million, 40-year USDA loan at 4.25 percent, according to USDA officials. The new wing includes a library, a gymnasium and two classrooms. The school was established in 1999 and is located about six miles outside Middletown, Delaware.

The green area of this rendering shows the planned expansion of the MOT Charter School, located near Middleton, Delaware. The project, supported by a U.S. Department of Agriculture Rural Development facility loan, includes a gymnasium, library, and additional classroom space for the K-8 schools that opened in 1999. Image: Courtesy of MOT Charter School.

In May 2010, USDA announced a loan of $1,250,000, with an interest rate of 4.125 percent, for school renovation, including new communication equipment and furniture, for Pioneer Valley Chinese Immersion Charter School in Hadley, Massachusetts. In July 2009, the USDA announced an $800,000 loan, with an interest rate of 4.375 percent, for facility purchase. Both loans have 40-year terms, according to USDA officials.

Students at the Pioneer Valley Chinese Immersion Charter School in Massachusetts watch the installation of a new school sign from their seats in a new cafeteria that was part of a renovation supported by a U.S. Department of Agriculture Rural Development Community Facilities loan.

Photo: Courtesy of Pioneer Valley Chinese Immersion Charter School