MassDevelopment issues a $20 million tax-exempt bond for Brandeis University

Waltham, MA MassDevelopment has issued a $20 million tax-exempt bond for Brandeis University. The university is using bond proceeds to complete capital projects throughout its campus, including improving utilities; repairing foundations; upgrading HVAC, boiler, fire alarm, and lighting systems; and replacing windows, doors, patios, and roofs at various buildings and residence halls. TD Bank purchased the bond. 

MassDevelopment previously partnered with the university in 2011 when the agency provided a $10 million tax-exempt lease that Brandeis used to buy equipment and renovate its pool and information technology networks. In 2013, MassDevelopment provided $36.5 million in tax-exempt bond financing for Brandeis, which the university used to refinance past debt, build a 7,000 s/f children’s center, and for other capital purposes. 

“This bond will enable Brandeis University to make necessary improvements to its campus and provide a welcoming, engaging environment for its students,” said MassDevelopment executive vice president of finance programs Laura Canter. “MassDevelopment is pleased to offer low-cost financing to make the Brandeis education experience an even more engaging one.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy. These projects are projected to create about 8,200 jobs and build or rehabilitate about 4,200 residential units.