Westchester’s LDC approves $26.5 million for new facility at the Upper Campus of Rippowam Cisqua School

Bedford, NY According to County executive Robert Astorino,Westchester’s Local Development Corp. (LDC) has approved financial incentives to support the construction and renovation of new facilities at the Upper Campus of Rippowam Cisqua School.

The $19 million project will create 150-200 construction jobs and retain 195 full-time and part-time jobs. The LDC is providing low-cost bond financing of $26.5 million, which includes the project cost and $6 million in mortgage refinancing. Construction of the 22,000 s/f project is expected to begin this month and take 15 months to complete.

“The incentives provided through the LDC will help Rippowam Cisqua School continue its nearly century-old tradition of providing an outstanding education for children from pre-K to ninth grade,” said Astorino.

“This project will also create hundreds of construction and permanent jobs, which are important for the continued vitality of our county’s economy,” he added.

William M. Mooney III, Esq., Director of the Westchester County Office of Economic Development said they are very pleased that the Local Development Corporation can assist a fine educational institution such as the Rippowam Cisqua School. “The LDC is here to assist not-for-profits, both large and small, in helping them grow while creating jobs for our local economy,” he said.

The plan for the Upper Campus in Bedford includes a new library and media center; a new innovation center; new arts classrooms and science labs; a new dining hall; and an outdoor amphitheater. “Rippowam Cisqua School has a long history of excellence and innovation,” said Head of School Colm MacMahon. “The new Upper Campus will bring tremendous teaching and learning spaces to the community. We are excited about this project because we know how important middle school is to education, and having an environment that is specifically designed and sized for middle school aged students.” MacMahon said that Rippowam Cisqua School is proud to partner with County Executive Astorino and the LDC on this transformational project. Founded in 1917, Rippowam Cisqua School is a co-educational, independent country day school for students in pre-Kindergarten through ninth grade, located on two campuses in Bedford and Mount Kisco.

Created in 2013 by County Executive Robert P. Astorino, the Local Development Corporation (LDC) provides low-cost, tax-exempt bond financing for non-profit organizations.  From 2013-2015, the LDC provided over $430 million in tax-exempt financing to hospitals, schools, nursing homes, and social service agencies. It has helped to renovate critical infrastructure expansion for non-profits, which has created over 1,500 permanent and construction jobs since 2013.