On Wednesday 4/28 Youngsville Academy completed the purchase of its K-8 Facility and 20-acre property with USDA Rural Development funding. The facility was constructed three years ago through a lease and development agreement with a Florida-based real estate investment firm. The agreement included an option to purchase. Youngsville Academy was able to secure USDA RD funding required to exercise the option to purchase.
Business Director Dan Henson remarked: "Closing on the property marks the completion of an effort that began almost 5-years ago. It's a major accomplishment for the school that helps position the school for future expansion into high school. The low-cost USDA RD funding secured for the purchase of the K-8 facility will help free up financial resources that can be allocated towards construction of a high school facility that meets the school's programming requirements."
Unlike public schools, charter schools are required to finance facilities out of the per pupil funding received from local, State, and Federal sources. The purchase of the school facility reduces the YA per pupil facility cost by more than 30%.