MassDevelopment can issue taxable bonds for industrial and commercial real estate. Taxable bonds are often used as a “tail” in a tax-exempt financing if the borrower organization’s needs exceeds its eligibility to issue tax-exempt bonds for a particular project.
Case Study – Pearlmeat, LLC
Pearlmeat, LLC, a wholesale producer of fine meats in Brockton, used the proceeds of a $5,000,000 tax-exempt industrial revenue bond and a $2,344,000 taxable bond to purchase and renovate a 99,000-square-foot manufacturing plant. The new facility expanded the company’s operating capability.
