Hempstead Town Approves Bond For Charter School Expansion

HEMPSTEAD, NY — The Town of Hempstead's Local Development Corp. has approved a bond sale to the Academy Charter School of Hempstead, which will allow the school to expand its facilities and programs, and accept more students.

The Local Development Corp. (LDC) gave preliminary approval to the $58 million tax-exempt bond sale on April 3. Academy Charter School plans to use the money to build and equip a new vocational and technical high school in Uniondale, expand the facilities of its middle school i Hempstead to accommodate elementary school students, add middle school facilities to its Uniondale campus, and refinance its existing bonds at a lower interest rate.

The LDC provides low-interest, tax-exempt bond financing to non-profits, schools, hospitals, civic entities and charitable organizations within the Town of Hempstead. The final sale is still subject to further LDC staff review, a public hearing, approval by the LDC board and approval by Town Supervisor Don Clavin. Federal rules don't permit teleconference of public hearings for bond sales, so there is no date set yet for when the hearing will happen.

“There is no doubt that this is the kind of project that we take great pride in," said Frederick Parola, CEO of the LDC. “This planned bond sale will benefit the children of Hempstead, Uniondale and the surrounding communities. We applaud the success of the Academy’s Hempstead school, the quality of the education the students are receiving and the future leaders it is developing, and look forward to making it possible for the Academy to complete its new projects and reach more students.”

The new vocational and technical school, to be constructed on Academy’s grounds at 100 Charles Lindbergh Blvd. in Uniondale, will be used for technical and vocational training in the culinary arts, technology and medical fields. Its first class of 125 students is expected in the fall. Academy received approval in February for the career technical education program from the SUNY Charter Schools Institute, which authorizes charter schools in the state. The project’s cost is estimated at $2 million.

The charter school also intends to construct a new three-story facility with 18 classrooms on its middle school parking lot in Hempstead, at a cost of $11.9 million, and to expand its Uniondale facility to create a middle school, at a cost of $16.6 million. In addition, Academy plans to refinance bonds sold in 2011, 2013 and 2017.

Academy’s staff, currently 51 in Uniondale and 61 in Hempstead, is expected grow within three years to 110 and 76, respectively.