Mount de Sales Academy will be able to refinance a large amount of debt, thanks to a bond issue approved Thursday morning by the Macon-Bibb County Urban Development Authority.
The bond agreement is for up to $6 million, and the school, the UDA and State Bank & Trust are parties to the agreement, said Blake Sharpton, the bond attorney.
“They’ve already substantially completed their construction, so this is just refinancing the existing debt,” he said.
The Catholic high school and middle school between Orange and College streets has put about $5 million into campus improvements since 2009. Recently the school bought several properties on Rose Place to create a one-way entrance and parking lot near the new $3.6 million Father John Cuddy Hall. A new gateway is planned at the corner of Appleton and Columbus streets, but donors have committed to covering its $1 million cost.
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Now the area around the school is being landscaped, including a new plaza with a rain garden.
To contact writer Jim Gaines, call 744-4489.