Massachusetts Historical Society renovates, repairs building with MassDevelopment bond
May 28, 2015
FOR IMMEDIATE RELEASE
MassDevelopment has issued a $1.5 million tax-exempt bond on behalf of the Massachusetts Historical Society, which will use the proceeds to renovate and repair its building at 1154 Boylston Street in Boston. Renovations include removing, repairing, or replacing balustrades and parapets on the Boylston Street and Fenway side of the fourth floor roof; working on steel beams and masonry; and replacing roofs on the fourth and sixth floor and elevator tower. In addition, bond proceeds will go toward the purchase and installation of video production equipment, lighting and sound systems. First Republic Bank purchased the bond.
“For centuries, the Massachusetts Historical Society has explored, preserved, and showcased our history,” said Marty Jones, MassDevelopment President and CEO. “Through its bond programs and its role in the Cultural Facilities Fund, MassDevelopment is pleased to help the Massachusetts Historical Society and other cultural institutions make necessary facility improvements so they can continue to educate and entertain the public.”
Founded in 1791, the MHS is an invaluable resource for U.S. history, life, and culture. Through its collections, scholarly pursuits, and programs, the MHS enhances the understanding of our nation’s past and its connections to the present.
MHS President Dennis Fiori remarked, “Our building on Boylston Street—a national register landmark—is our largest artifact. We are grateful for the help from MassDevelopment and First Republic Bank in securing the funds necessary to ensure the success of the Society’s latest building conservation project. Providing a safe environment for our visitors and our collections is of utmost importance.” He continued, “New video equipment, also made possible through the bond, will help the Society’s efforts to improve and expand its public outreach.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2014, MassDevelopment financed or managed 314 projects generating investment of more than $2.9 billion in the Massachusetts economy. These projects are projected to create more than 6,300 jobs and build or rehabilitate more than 1,600 residential units.