EagleBank Provides Financing for Mundo Verde Bilingual Public Charter School
February 02 2023 - 6:00AM
EagleBank, one of the largest community banks in the Washington, DC
area, today announced it has provided up to $55 million in
financing via Series 2022 District of Columbia Tax-Exempt Revenue
Bonds to support Mundo Verde Bilingual Public Charter School
(“Mundo Verde”) located at 30 P Street, NW. The purpose of this
loan is threefold, to finance a fee simple acquisition of the Calle
Ocho campus facility and upgrade its critical systems, for
construction and development costs of an adjacent site that will
provide additional space to accommodate planned programmatic and
campus development, and to refinance existing bond debt of the J.F.
Cook campus.
Mundo Verde fosters high academic achievement
among a diverse group of students, preparing them to be successful
and compassionate stewards of their communities. Mundo Verde is the
first and only school in the District focusing on Education for
Sustainability, a combination of bilingual education and
project-based learning (EL Education). Mundo Verde, like existing
EagleBank Client DC Bilingual, is a member of DC’s consortium of
five premier dual language immersion charter school programs that
matriculate to the DC International School at Walter Reed. The J.F.
Cook campus facility was also the first charter school in DC and
one of a few in the country with an LEED® Gold and Platinum
certification -- and the only public charter school to receive the
coveted American Institute of Architects Committee on The
Environment Top Ten (COTE) award.
“Our team is proud to support the continuous
growth of Mundo Verde Bilingual PCS,” said Lindsey Rheaume, Chief
C&I Lending Officer at EagleBank. “It was an honor to partner
with such a premier top performing charter school, and we look
forward to future opportunities to support the mission of bridging
the educational divide in Washington DC.”
Reflecting on this opportunity, Kristin
Scotchmer, founding Executive Director of Mundo Verde said,
“additional classrooms and outdoor space just across from our
existing Calle Ocho campus will let us better serve our current
students as they grow, and also make room for new students. Helping
young people develop academic and emotional skills grounded in
respect for diversity and empathy has never been more important
than it is today.”
The transaction was facilitated by EagleBank’s
experienced commercial & industrial lending team, including
Senior Vice President & Relationship Manager Jonathan Beall,
and vice president and portfolio manager Karim Ghorayeb.
About Eagle Bancorp, Inc. and EagleBankEagle
Bancorp, Inc. is the holding company for EagleBank, which commenced
operations in 1998. EagleBank is headquartered in Bethesda,
Maryland, and conducts full service commercial banking through 16
offices, located in Suburban, Maryland, Washington, D.C. and
Northern Virginia. EagleBank focuses on building relationships with
businesses, professionals and individuals in its marketplace.
EagleBank ContactVikki Kayne,Chief Marketing
Officer301.986.1800
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