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MassDevelopment, Cushing Academy Partner for Expansion Initiative
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March 11, 2004 Contacts: Adam Bickelman, 617-330-2086 or abickelman@massdevelopment.com Janet Hookailo, 617-330-2018 or jhookailo@massdevelopment.com ASHBURNHAM - MassDevelopment officials announced today the closing of a $27 million tax-exempt bond issue on behalf of Cushing Academy. Founded in 1865, Cushing Academy is a not-for-profit co-educational institution offering a rigorous college preparatory curriculum to young men and women in grades nine through twelve. The Academy seeks to educate its students in a manner that builds confidence, instills values and enables Cushing graduates to achieve their future goals. Bond proceeds will be used to construct a 54,000 sq. ft. academic building to house math, science and performing arts facilities. In addition, the school will carry out renovations to preexisting dormitories, athletic fields and classrooms. Currently, there are more than 425 day and boarding students enrolled in Cushing Academy. "The MassDevelopment team is pleased to partner with Cushing Academy to bring these campus renewal projects to fruition," explained Robert L. Culver, MassDevelopment President/CEO. "The admirable values conveyed by the Academy- of self-confidence, determination and optimism- prepare Cushing students for success in the real world, which translates into numerous successes for the Commonwealth economy as a whole." "I am excited to bring these campus-wide improvements to the students and faculty of Cushing Academy. The staff at MassDevelopment guided us through the financing application quickly and efficiently, enabling us to move these projects through the pipeline smoothly," said M. Willard Lampe II, Headmaster of Cushing Academy.
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