MassDevelopment has recently issued a tax-exempt bond in the amount of $105,820,000 on behalf of Williams College located in Williamstown. As the second-oldest institution of higher learning in Massachusetts, Williams plans to utilize these funds for various projects on their campus. These include constructing and furnishing a new art museum and multipurpose recreation center, implementing an energy and carbon master plan, as well as renovating dormitories and dining facilities.
According to MassDevelopment’s deputy director and SVP Marcos Marrero: “Our colleges play a crucial role in driving Massachusetts forward by promoting knowledge advancement, preparing our future workforce,and supporting local economies.” He also expressed his satisfaction with being able to assist schools like Williams College by providing them with low-cost financing options for campus development that will benefit students and faculty alike.
The bonds were made available through a public offering with Goldman Sachs serving as lead underwriter while BofA Securitiesand Samuel A. Ramirez & Co acted as co-managers.
