MassDevelopment Bond to Support Cambridge School of Weston Dorm, Other Capital Projects

February 22, 2011

Contacts:
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077
Greg Moody, The Cambridge School of Weston, 781-642-8608

MassDevelopment has issued an $11 million tax-exempt bond on behalf of The Cambridge School of Weston (CSW), a progressive college preparatory school in Weston. The bond’s proceeds serve multiple purposes for the school, with $7.3 million earmarked to refinance a previous bond. The additional funds are available to the school to undertake other capital projects and to explore the potential of constructing a new residence hall on campus.

“The Cambridge School of Weston’s range of courses and teaching styles helps foster its pupils’ intellectual growth,” said MassDevelopment President and CEO Robert L. Culver. “This low-cost financing will support students for many years to come.”

The Cambridge School of Weston has been at the forefront of educational innovation since its founding in 1886, and provides a progressive education that emphasizes deep learning, meaningful relationships and a dynamic program that inspires students to discover who they are and what their contribution is to their school, their community and the world.

The previous bond MassDevelopment issued on the school’s behalf helped build a science and art building, athletic fields, and a maintenance facility.

“Through refinancing, this bond affords CSW the financial flexibility to pursue potential projects that enhance our school’s facilities and academic program,” said CSW Head of School Jane Moulding. “Over the next 12 months, the community will consider the best direction for the additional funds available.”

CSW offers more than 300 class offerings. The school typically enrolls 325 students in 9th through 12th grades, with approximately 15 percent U.S. citizens of color and 12 percent international students. In 2010, students came from 14 states and 10 countries.

MassDevelopment, the state’s finance and development authority, works with businesses, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2010, MassDevelopment financed or managed 238 projects in 104 communities across the state generating investment of nearly $1.4 billion in the Massachusetts economy.