Charter school wants $42M in bonding for new Wyandanch building
Administrators for Academy Charter School, whose current location in Wyandanch is pictured here, have asked Babylon to commit to $42.1 million in bonding to finance construction of its new building in the hamlet's downtown.
Credit: Tom Lambui
A new charter school is under construction in the heart of Wyandanch’s downtown as part of a $500 million revitalization effort and its administrators have asked Babylon Town's nonprofit development arm to issue bonds for $42.1 million for the project.
A public hearing on the matter is scheduled for Monday.
Academy Charter School is building on Commonwealth Drive to expand its existing Wyandanch school operation. The charter school's current location in a former hardware store on Long Island Avenue hosts classes for students in kindergarten through second grade.
A school at the new location initially will have kindergarten through sixth grade classes, according to Academy’s bonding application. A spokesman for school officials said Friday they plan to keep both locations open.
The school is seeking the bonding through the town’s Local Development Corporation, or LDC, which was formed in 1988 to work with businesses to spur economic growth.
“Bonding through the LDC will allow the school to have tax-exempt repayments of the debt and better interest rates,” LDC attorney Matthew McDonough said in an interview.
The new charter school will be the first nonresidential or commercial space created as part of the town's ongoing Wyandanch Rising revitalization effort, a $500 million public-private partnership between Babylon and master developer Albanese Organization Inc. of Garden City.
The effort's aim is to revitalize the community — one of the most economically distressed communities on Long Island.
Town officials said they initially planned for a residential building on the site, but realized a school would bring foot traffic downtown.
Architectural plans on file with the town show the Commonwealth Drive school will be three stories high, with three classrooms per grade, two specialty classrooms, a gym, a cafeteria that also serves as an auditorium and office space.
Academy’s bond application says $6.9 million would be used to pay off the costs of buying and renovating its existing school site, while $18.9 million would pay for its new, 41,271-square-foot building and another $2.6 million would go toward equipment.
The school has estimated an additional $11.6 million in various fees and charges, including to the LDC. McDonough said the LDC’s fees would be about $190,000.
In April, Newsday reported the town was nearing the end of its approval process for construction of the new school building, even as Academy’s executive director Wayne Haughton denied the school was “committed to any location” at the time.
Since then the town issued a building permit and construction got underway, town spokesman Ryan Bonner said. The building is expected to be completed by September 2024.
The public hearing for Academy’s proposed bonding will be at 11:30 a.m. Monday at the LDC office at 47 W. Main St. in Babylon, before a vote by LDC's board Wednesday.
A new charter school is under construction in the heart of Wyandanch’s downtown as part of a $500 million revitalization effort and its administrators have asked Babylon Town's nonprofit development arm to issue bonds for $42.1 million for the project.
A public hearing on the matter is scheduled for Monday.
Academy Charter School is building on Commonwealth Drive to expand its existing Wyandanch school operation. The charter school's current location in a former hardware store on Long Island Avenue hosts classes for students in kindergarten through second grade.
A school at the new location initially will have kindergarten through sixth grade classes, according to Academy’s bonding application. A spokesman for school officials said Friday they plan to keep both locations open.
The school is seeking the bonding through the town’s Local Development Corporation, or LDC, which was formed in 1988 to work with businesses to spur economic growth.
“Bonding through the LDC will allow the school to have tax-exempt repayments of the debt and better interest rates,” LDC attorney Matthew McDonough said in an interview.
The new charter school will be the first nonresidential or commercial space created as part of the town's ongoing Wyandanch Rising revitalization effort, a $500 million public-private partnership between Babylon and master developer Albanese Organization Inc. of Garden City.
The effort's aim is to revitalize the community — one of the most economically distressed communities on Long Island.
Town officials said they initially planned for a residential building on the site, but realized a school would bring foot traffic downtown.
Architectural plans on file with the town show the Commonwealth Drive school will be three stories high, with three classrooms per grade, two specialty classrooms, a gym, a cafeteria that also serves as an auditorium and office space.
Academy’s bond application says $6.9 million would be used to pay off the costs of buying and renovating its existing school site, while $18.9 million would pay for its new, 41,271-square-foot building and another $2.6 million would go toward equipment.
The school has estimated an additional $11.6 million in various fees and charges, including to the LDC. McDonough said the LDC’s fees would be about $190,000.
In April, Newsday reported the town was nearing the end of its approval process for construction of the new school building, even as Academy’s executive director Wayne Haughton denied the school was “committed to any location” at the time.
Since then the town issued a building permit and construction got underway, town spokesman Ryan Bonner said. The building is expected to be completed by September 2024.
The public hearing for Academy’s proposed bonding will be at 11:30 a.m. Monday at the LDC office at 47 W. Main St. in Babylon, before a vote by LDC's board Wednesday.
Denise Bonilla has worked at Newsday since 2003 and covers the Town of Babylon, including the villages of Lindenhurst and Amityville.
