New Braunfels Christian Academy Utilizes Tax-Exempt Financing for Campus Expansion
New Braunfels, Texas (November 2023) – The New Braunfels Christian Academy has launched a multi-phase facility expansion project. The first phase includes an Athletic Complex and Field House featuring synthetic turf, an 8-lane track, bleachers, and press box along with designated space for concessions, bathrooms, locker rooms, training areas, parking, and more. The second phase will include a Secondary Academic Building, providing additional space for the entire student body to be housed on one campus.
Partial funding for Phase 1 of the project was raised by the Academy’s Take Action Capital Campaign. The remaining funds were provided by a tax-exempt conduit financing structure which created substantial benefits for the Academy. The tax-exempt financing program included refunding an existing taxable obligation which provided significant interest-cost savings for the Academy and aided the feasibility of the expansion project.
The Academy selected Seidel Construction, an alumni-owned company, to lead the project, and Government Capital Corporation provided the Academy with the tax-exempt conduit and financing structures.
“We are extremely grateful to our community and donors for their support in making this project a reality,” commented Nick Reeves, Head of School, New Braunfels Christian Academy. “Additionally, we greatly appreciate Government Capital for introducing us to the tax-exempt conduit financing option which provided a highly efficient and beneficial method of completing our funding.”
“I’d like to congratulate Nick Reeves, Jennifer Cabell, and everyone else involved in this historic project,” stated Zac Saldi, Vice President, Government Capital Corporation. “We take great pride in partnering with Texas private schools and assisting them in achieving their goals and objectives in order to better serve their students and community.”
About New Braunfels Christian Academy
New Braunfels Christian Academy was established in 1981 and is located in New Braunfels, Texas. The Academy provides biblical teaching and values, problem solving skills, and academic continuity throughout their students’ formative years. The Academy’s purpose is one of discipleship for its students in partnership with their parents. For more information, visit www.nbcatx.org.
About Government Capital Corporation
Government Capital Corporation (GCC) is a leading public finance firm providing professional financial services to all local governments and 501(c)(3) entities. Our affiliate company, Government Capital Securities Corporation, has created multiple conduit issuers which are specifically designed to enable qualified 501(c)(3) organizations access to tax-exempt financial markets statewide. Since its founding in 1992, GCC and its affiliates have successfully completed thousands of tax-exempt financings exceeding $5.8 billion in Texas and across the country. For more information, visit www.govcap.com/private-
Jana Jay, Private School Finance Specialist