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PFA Closes $37.7 MM Financing for LNCharter, LLC (Lake Norman Charter School, Inc.

The Public Finance Authority (PFA) has provided $37.7 million to finance educational revenue bonds for LNCharter, LLC (the “Borrower”). LNCharter, LLC will use the bond proceeds to construct, equip and improve the Lake Norman Charter School (“LNC”) located in Huntersville, North Carolina.

LNC commenced operations in 1998 and for the 2017-18 school year serves approximately 1,900 students in grades K-2 and 5-12. The school focuses on strong academics, service and leadership and provides a rigorous college preparatory program to students.

PFA partnered with Parker Poe and BB&T Community Holdings Company to provide financing to LNCharter, LLC. The Borrower anticipates creating more than 50 jobs during construction with an additional 10 jobs created as a result of permanent financing. In addition, the Borrower can continue its mission as it prepares students to be community leaders demonstrating personal integrity with a life-long desire to learn, lead and serve.