MassDevelopment.com: Press Room: $20 Million in MassDevelopment Bonds Support Two Metro-West Private Secondary Schools

$20 Million in MassDevelopment Bonds Support Two Metro-West Private Secondary Schools
October 3, 2005

Contacts:
Adam Bickelman, 617-330-2086
Janet Hookailo, 617-330-2018

MassDevelopment today announced more than $20 million in financing for two metro-west private secondary schools.

Newton Country Day School of the Sacred Heart will use proceeds from a $10,280,000 tax-exempt bond to construct a 12,000 square foot library. The Brimmer and May School of Chestnut Hill will use proceeds from a $10,000,000 tax-exempt bond to construct an addition to the Chase Building which will include a new middle and upper-school library and five new classrooms. The school expanded and renovated its science wing over the summer, adding three new labs, and plans to renovate the lower school in the coming year.

"We are pleased to partner with these area institutions to enhance their ability to deliver quality educational programs," said Robert L. Culver, MassDevelopment president/CEO. "These schools not only support the state economy as employers and purchasers of services, they also keep Massachusetts competitive by turning out well-educated young people who are prepared to become tomorrow's leaders."

Established in 1880, Newton Country Day is one of the oldest independent Catholic girls' schools in New England. The school currently enrolls 369 students from more than 65 Greater Boston communities, and seeks to provide the courage, confidence and skills required by young women for intellectual, athletic, spiritual and artistic exploration and accomplishment.

Founded in 1880, Brimmer and May is a pre-K through grade 12, coeducational, independent day school serving a culturally and socio-economically diverse student body from more than 50 Greater Boston communities and seven foreign countries. The school currently enrolls 386 students at its Chestnut Hill campus.

"Thanks to MassDevelopment for partnering with us once again in support of our school's growth," said Sister Barbara Rogers, Newton Country Day School headmistress. "These new facilities will complement our historic campus, and provide new learning opportunities and experiences for our students."

MassDevelopment, the state's finance and development authority, partners with businesses and local officials to stimulate economic growth across the Commonwealth. In fiscal year 2004, the agency arranged financing for or managed 201 projects statewide totaling more than $1.25 billion. These projects supported the creation of more than 5,500 jobs and 2,445 housing starts.