MassDevelopment

Conservation Law Foundation Upgrades Office Space With MassDevelopment Bond

November 1, 2018


FOR IMMEDIATE RELEASE

Contacts:
Kelsey Schiller, MassDevelopment, 617-330-2011 & 617-694-9695 (cell)
kschiller@massdevelopment.com

Jake O’Neill, Conservation Law Foundation, 617-850-1709
joneill@clf.org

MassDevelopment has issued a $4.5 million tax-exempt bond for the Conservation Law Foundation, which will use bond proceeds to upgrade and equip its offices at 58-64 Summer Street in Boston. Renovations to the building will include roof replacement; reconfiguration of the Otis Street entrance; improvements to the conference room and office spaces, including installing energy efficient lighting; enhanced handicap access; and installing information services and technology resources. The Conservation Law Foundation will also use proceeds to refinance an existing bond. First Republic Bank purchased the bond.

“The Conservation Law Foundation is one of New England’s foremost advocates for renewable energy, environmental protection, and the safeguarding of our natural resources,” said MassDevelopment President and CEO Lauren Liss. “MassDevelopment is pleased to leverage our tax-exempt bond financing to help the Foundation renovate and improve its office space in downtown Boston.”

For 50 years, the Conservation Law Foundation has used law to improve the management of natural resources and protect the environment and public health throughout New England. This organization advocates across six states to prevent pollution, while also creating comprehensive long-term solutions to environmental challenges.

“The renovation of 62 Summer Street will give the Conservation Law Foundation a headquarters with lower utility costs, extensive use of recycled and reclaimed materials, and zero use of energy from polluting fossil fuels,” said Conservation Law Foundation President Bradley Campbell.  “Renovation finance through MassDevelopment has enabled CLF to lead by example in reducing its carbon footprint while addressing decades of deferred maintenance.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2018, MassDevelopment financed or managed 384 projects generating investment of more than $4.1 billion in the Massachusetts economy. These projects are estimated to create or support 10,994 jobs and build or rehabilitate 830 housing units.