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Location: Royal Palm Beach, California
Loan Amount: $15.6 Million
Savings Amount: $4.5 Million
School Site: westernacademycharter.com
Obligor Summary: Western Academy Obligor Summary
Founded in 2003, Western Academy Charter School serves 509 students in grades K-8 on a single campus in Royal Palm Beach, FL. The school’s mission is “to equip all children with the skills necessary for success on both an educational and social level [by] addressing the whole child through a multi-sensory approach to learning.” Western Academy’s elementary academic program is based on Project CHILD (Changing How Instruction for Learning is Delivered), a research-based teaching program that incorporates computers and hands-on activities into daily classroom instruction. The school has been a National Demonstration Site model school for this program since 2011. Western Academy’s middle school (6-8) consists of two separate academic component programs. The first program utilizes a Rotational Instructional Model, a learning model in which students rotate between learning from a teacher in a physical classroom and online learning. The rotation model can be on a fixed schedule or at the discretion of the teacher. The second program is based on the STEAM model that prepares students in competencies and skills in the traditional disciplines of Science, Technology, Engineering, and Math while also incorporating Arts to foster creativity and innovation. The dedication from the teachers and staff, as well as the rigor of these programs, has allowed Western Academy to consistently outpace the host district and state averages in ELA and Math in every grade tested.
EFF provided a $15.6 million loan to fund the acquisition and renovation of the school’s currently leased campus, which sits on 7.4 acres of land. The 30-year fixed-rate loan will produce over $4.5 million in savings compared to alternative financing options.
"Without the support, encouragement and financial assistance of EFF, we may have never been able to secure our own school site. Their belief in our mission, programs and educational success gave us the confidence we needed to expand our horizons and take that leap to the next level. We are excited to expand our Western Academy family and programs offering the highest quality education to even more children in our community, and we look forward to celebrating our 20th year in our own permanent school campus. The future is bright! EFF has made our dream come true, and we couldn’t be more thankful.”
-Linda Terranova, Founder and Executive Director, Western Academy