The middle market banking business of CIT, a division of First Citizens Bank, provided $30 million toward construction and enhancement of school facilities in Wahoo, NE.
The borrower, Saunders County Education Agency, will use the loan to help finance construction of a new, two-story school addition, as well as associated renovations, for the existing middle school and high school facility of Wahoo Public Schools.
“Wahoo and the surrounding areas are growing and we need to expand our educational facilities to continue offering opportunities to all students,” Brandon Lavaley, superintendent of Wahoo Public Schools, said. “We appreciated CIT’s agility in developing a financing package that would meet our objectives while allowing this project to move forward quickly and efficiently.”
“It is a pleasure to support the Saunders County Education Agency and Wahoo Public Schools as they move forward to enhance the educational facilities available to the students and the community,” Brendan Chambers, managing director and group head for CIT’s middle market banking business, said.
