Silverdale Baptist Academy gets bond to help pay for facility upgrades

CHATTANOOGA, Tenn. (WDEF)- Silverdale Baptist Academy was approved Monday for a bond issuance that will help them continue their expansion.
The Chattanooga Health, Educational, and Housing Facility Board approved it.

The bonds are worth $4.75 million dollars, and will be tax-exempt.

The city of Chattanooga nor the state of Tennessee will not have any financial obligation as all liabilities fall on the school.

City Attorney Phil Noblett noted during the meeting that several other local private schools had been approved for similar bonds.

SBA says that the bond will help them continue to pay off their brand new Silverdale Center, and to pay for upgrades to their athletic fields.

They say those upgrades will not just benefit their students, but others in their community.

“Part of our mission statement is outreach into the community, so our kids will host summer camps, and they have a platform to serve into the community. So they will serve at football camps and baseball camps and other things that community kids can come in to use those facilities for,” said the school’s chief financial officer Erin Martin to the board.

SBA says they expect to have those athletic upgrades including expansions to their football and soccer fields along with new turf by the beginning of next school year.