EagleBank Provides Financing to Mamie D. Lee LLC to Support Improvements for Public Charter Schools
23 Maggio 2024 - 12:35PM
EagleBank (NASDAQ: EGBN), one of the largest community banks in the
Washington, D.C. area, today announced it has provided a loan to
Mamie D. Lee LLC to refinance the unwind of the New Markets Tax
Credit (NMTC) structure used for renovating the former D.C. Public
School building. Mamie D. Lee LLC is jointly owned by Briya Public
Charter School (PCS) and Bridges Public Charter School (PCS), which
financed improvements to the property through the NMTC program.
“We are thrilled to be the chosen partner for
Mamie D. Lee and other public charter schools in the region,” said
Lindsey Rheaume, Executive Vice President and Chief Lending Officer
for Commercial and Industrial (C&I). “EagleBank is proud to be
an active lender in the charter school sector and we look forward
to continuing to build upon our successes in this market
segment.”
The transaction was handled by EagleBank’s
experienced C&I team, including Senior Vice President, C&I
Lending Segment Leader, Jonathan Beall, 1st VP, Commercial Credit
Underwriter Harvey L. Warnick, Jr., Officer, C&I Portfolio
Administrator, Karen McCadden, and C&I Portfolio Manager, Isaac
Abebayeu.
“Bridges and Briya greatly appreciate
EagleBank’s support and partnership in this refinancing, which will
allow our schools to make available additional funds to directly
support our educational programing for District families,” said
Christie McKay, Briya Executive Director.
Bridges PCS and Briya PCS have been serving
students in Washington, DC for decades—Bridges as an inclusive,
family-centered elementary school and Briya as a two-generation
school for adults and their young children. Both have successfully
renewed their second 15-year charter by the DC Public Charter
School Board. In 2022, Bridges PCS was one of fourteen DC schools
named an EmpowerK12 “Bold School.” Briya’s program has garnered the
school Tier 1 status from the DC Public Charter School Board every
year that the rankings have been awarded.
About the Mamie D. Lee
School
Bridges and Briya Public Charter Schools were
awarded the Mamie D. Lee Campus, an underutilized Washington, D.C.
public school building and grounds for redevelopment. Originally
constructed in 1967, the Mamie D. Lee School was designed for
special-needs children. Collectively, their vision was to create a
site with wraparound services for children and families with a
focus on those with special needs. Their campus partnering realizes
this vision of providing a full spectrum of education programming
from early childhood to adulthood.
About Eagle Bancorp, Inc. and EagleBank
Eagle Bancorp, Inc. is the holding company for
EagleBank, which commenced operations in 1998. EagleBank is
headquartered in Bethesda, Maryland, and conducts full service
commercial banking through 12 offices, located in Suburban,
Maryland, Washington, D.C. and Northern Virginia. EagleBank focuses
on building relationships with businesses, professionals and
individuals in its marketplace.
EagleBank Contact:
media@EagleBankCorp.com
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