International School of Boston Upgrades Cambridge Campus with MassDevelopment Bond
November 26, 2018
FOR IMMEDIATE RELEASE
Kelsey Schiller, MassDevelopment, 617-330-2011 & 617-694-9695 (cell)
Caroline Marlard, International School of Boston, 617-583-9218
MassDevelopment has issued a $2 million tax-exempt bond on behalf of the International School of Boston Inc. (ISB), a bilingual French-American school serving students in preschool through 12th grade. The school will use bond proceeds to upgrade and equip its campus in Cambridge, including making improvements to classroom and lab space, the gymnasium, playground areas, and landscape; updating electrical and plumbing systems; buying and installing new technology equipment and software; and conducting environmental remediation. Middlesex Savings Bank purchased the bond.
“From our primary schools to our premier colleges and universities, MassDevelopment is always proud to leverage tax-exempt bond financing to help our state’s world-class educational institutions update or expand their campuses,” said MassDevelopment President and CEO Lauren Liss. “Here in Cambridge, we’re pleased that the International School of Boston will be able to make needed improvements to its school buildings and grounds, creating a better educational experience for its students and faculty and reinforcing the campus for years to come.”
Founded in 1962, the International School of Boston is an independent, nonprofit preschool through 12th grade French and international school located in Cambridge. ISB is one of the oldest, most respected bilingual schools in the United States. The School is part of a world-wide group of accredited French Schools that teach the official program established by the French Ministry of Education. The School is currently headquartered in Cambridge and enrolls more than 600 students representing over 40 countries. In addition to an American high school diploma, ISB offers a choice between the French and the International Baccalaureate, giving its graduates the opportunity to apply to any university in the world.
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.