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Newburyport

$4.58 million bond for charter school

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MassDevelopment, the state’s finance and development agency, has issued a $4.58 million bond on behalf of Newburyport’s River Valley Charter School, the first public charter Montessori school in Massachusetts. The school is using bonds to buy and renovate the 36,000-square-foot building that it has been leasing. “By owning rather than leasing, River Valley Charter School will be able to lower its overall operating costs and devote more resources to its mission of providing quality elementary education,” MassDevelopment president and chief executive officer Marty Jones said in a written statement. Founded by parents in 1999, the school has 288 students from the Merrimack River Valley in kindergarten through eighth grade.

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