MassDevelopment Gives Cathedral High $12 Million in Bonds
March 5, 2010 : South End News, by Brandon Simes
MassDevelopment, the state's finance and development authority, has issued $12 million in tax-exempt bonds on behalf of Cathedral High School, which will use the money for construction and building rehabilitation and conversion projects in order to bring aboard seventh and eighth graders next fall.
The bonds were purchased by the Century Bank & Trust Company. The development projects include the conversion of a former convent to an administrative and academic building; rehabilitation of the existing Cathedral High School building; and demolition and reconstruction of a building connecting the high school and convent with an elevator for full handicap access to all buildings.
“This low-cost financing will help Cathedral High expand to serve 150 more students a year,” said MassDevelopment President and CEO Robert L. Culver. “A quality education is key to ensuring the availability of a skilled workforce in the decades to come. Investing in educating our children makes economic sense.”
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