FOR IMMEDIATE RELEASE
March 9, 2022
Public Finance Authority Helps to Finance New Coral Academy of Science Reno Schools
March 9 – The Public Finance Authority is pleased to announce financing is complete for two new elementary schools, two new middle schools, and a new high school for the Coral Academy of Science Reno (CASR). The five new schools will accommodate a larger student body and provide a richer learning environment for students. The PFA assisted in financing the expansion of these state-of-the-art charter schools in Reno.
“As the largest school in Washoe County, the Coral Academy of Science Reno project is providing an incredible opportunity to countless students due to PFA’s financing assistance,” said Mark O’ Connell, president and CEO of Wisconsin Counties Association, a founding sponsor organization of PFA. “This distinguished school is an excellent example of a PFA project that provides crucial community benefits without any risk to the taxpayer.”
The Coral Academy of Science Reno started operations in 2000 and currently is the largest charter school in Washoe County, serving over 1,350 students, including nearly 300 high school students from several municipalities and cities. The charter school’s mission is “to provide a safe, rigorous college preparatory environment that promotes social responsibility and a culturally diverse community dedicated to becoming lifelong learners bound for success.” According to the CASR, it is unique due to a smaller student-to-teacher ratio, an emphasis on science and math, cutting-edge technology integrated into the curriculum, and free after school tutoring.
PFA partners with local governments to assist in the financing of public benefit projects that create temporary and permanent jobs, affordable housing, community infrastructure and improve the overall quality of life in local communities. In 2021, the Public Finance Authority celebrated more than 10 years assisting in financing public benefit projects that provide local economic development, create jobs, produce state and local tax base, and meet needs of eligible borrowers which state or local issuing authorities may not be able to serve.
PFA was established By Local Government. For Local Government.™, in order to provide local governments and eligible private entities nationwide with access to low-cost, tax-exempt and other financing for projects that are important to the community and contain no risk to the taxpayer. PFA is jointly sponsored by the National Association of Counties, National League of Cities, Wisconsin Counties Association and League of Wisconsin Municipalities.