$80 million bonds sought for Benjamin Franklin Charter School projects in Queen Creek

Marisa Acuna colors during the third day of kindergarten in August 2017 at Benjamin Franklin’s Crismon Campus. (Independent Newspapers/Arianna Grainey)

The Maricopa County Board of Supervisors on Oct. 24 is slated to adopt a resolution approving the proceedings of the Industrial Development Authority for the issuance of $80 million in education revenue bonds to Benjamin Franklin Charter School projects in Queen Creek and Gilbert.

The meeting begins at 9:30 a.m. Wednesday in the Supervisors’ Auditorium, 205 W. Jefferson in Phoenix.

Proceeds of the bonds will be loaned by the issuer to the borrower to finance the cost of acquiring, leasing, constructing, improving and equipping charter-school educational facilities (including all related furniture, fixtures and equipment), according to an IDA document. It includes:

  • approximately 8 acres of land and an approximately 52,700-square-foot, two-story building, 22120 E. Queen Creek Road, Queen Creek.
  • approximately 10 acres of land and an approximately 40,300-square-foot, one-story building, 1475 S. Val Vista Drive, Gilbert.
  • approximately 10 acres of land and an approximately 55,500-square-foot, two-story building, 22951 S. Power Road, Queen Creek.
  • approximately 23 acres of land and approximately 89,700 square feet of one- and two-story buildings and an approximately 22,500-square-foot. one-story building to be constructed at 18864 E. Germann Road, Queen Creek.

 

The Queen Creek Independent is mailed each month to 24,000 homes.

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