FINANCIAL_SERVICESAPPROVED

Classical Charter Schools Board Meeting Minutes January 2026

$41.6 Million Bond Issuance Approved for SBC V Project

Approximately $41,600,000 (may not exceed by more than 10%)South Bronx Classical Charter SchoolBUILD NYC RESOURCE CORPORATIONJanuary 14, 2026

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Description

Classical Charter Schools Board approved long-term tax-exempt bond financing of up to approximately $41,600,000 through Build NYC Resource Corporation for the SBC V school facility project, set to mature no later than December 31, 2065. The bonds will fund construction, furnishing, and equipping of a new five-story school building.

Contract Details

Contract Amount

Approximately $41,600,000 (may not exceed by more than 10%)

Vendor

BUILD NYC RESOURCE CORPORATION

Agency

South Bronx Classical Charter School, NY

Contract Type

FINANCIAL_SERVICES

Document Date

January 14, 2026

Contract Term

Not later than December 31, 2065 (maturity), one or more series, as stated in Indenture

Renewal Date

2065-12-31

Renewal Info

Bonds set to mature by December 31, 2065, with modifications permissible via Certificate of Determination. Resolution effective for one year from adoption unless extended or bonds are issued.

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