Santilli & Thomson Guides First Philadelphia Preparatory Charter School and Tacony Academy Charter School through $57.5 Million in Bond Issues
Santilli & Thomson provided financial consulting to First Philadelphia Preparatory Charter School and Tacony Academy Charter School to guide our clients through the bond issuance process and the construction of new buildings.
The First Philadelphia Preparatory bond issue will refinance existing debt and provide funding to construct new buildings to house a second elementary school, a new high school and a field house. These new buildings will add to the Tacony Street main campus and will support additional enrollment granted by the School Reform Commission in June 2012. Total charter school enrollment will increase from 690 to 1880, making it the second largest charter school in Philadelphia.
The Tacony Academy bond issue will provide funding to construct new high school building at 6201 Keystone Street in the Tacony/Wissinoming section of Philadelphia, which includes classrooms, science labs, a library media center, a cafeteria, and a gymnasium, It will house 400 high school students from grades 9 to 12.
George K. Baum & Company, a leading underwriter of education bond issues, brought to market the $41.2 million and $16.3 million bond issues on behalf of First Philadelphia and Tacony Academy, respectively.