Tapestry Charter School is turning to the Industrial Land Development Corporation as the school seeks financing for its planned expansion along Great Arrow. The ILC, part of the county Industrial Development Agency, will review a complex application that totals $35 million.
Tapestry borrowed more than $12 million to build its current facilities on Great Arrow. Now, they want to refinance that loan while borrowing another $23 million for its expansion plans. The school will demolish one building, add a new building and construct sports fields.
"We'll be fine," assured school executive director Eric Klapper of the expansion process.
"We've made improvements to the program and so that we will be fine and continue to expand within our current blueprint for one more year and this new K-5 building will come just in time."
Klapper says the school is on a four-year path to expand from the current enrollment of 826 students to a 1,000 in kindergarten through 12th grade. Once the new building and its sports fields are done, the new building will be kindergarten through fifth grade and the current building will be sixth through 12th. The sports fields will be on the back of the property along the Belt Line railroad tracks.