Transaction Summary
Piper Sandler served as Placement Agent for Menlo Park Academy’s (“Menlo Park”) 2024 Bank Loan for non-rated Educational Facilities Revenue Bonds, Series 2024 through Public Finance Authority. Proceeds of the $5,630,215 Bank Loan were used to refinance Menlo Park’s Leveraged Loan under a New Market Tax Credit transaction that funded the existing facilities, finance $1,000,000 of capital improvements in connection with the Series 2024 Loan, fund a debt service reserve requirement and pay certain costs of issuance.

About Menlo Park Academy
Menlo Park Academy was founded as an Ohio nonprofit in the summer of 2008 and opened its doors that fall on the core belief that gifted children need an educational environment designed to meet their needs. Menlo Park began operations in the 2008-09 school year with 38 students in grades pre-K-6 and is now the educational home to 488 kindergartens through eighth grade students at 2149 W 53rd St, Cleveland OH. The school is in its sixteenth year of operation as a Menlo Park Academy District charter school. As Ohio’s only tuition-free school for gifted children, the school is proud of its accomplishments and looks forward to continued success in providing a rigorous education to children in the Cleveland area, building both academics and character.