Newton Communications Access Center Expands With MassDevelopment Bond
August 7, 2017
FOR IMMEDIATE RELEASE
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
Shelly Kamanitz, NewTV, 617-965-7200 ext. 125
MassDevelopment has issued a $2.4 million tax-exempt bond for Newton Communications Access Center Inc. (NewTV), a nonprofit media center in Newton providing local programming and training services. NewTV will use bond proceeds to buy a 10,000-square-foot condominium suite that the organization currently leases, which will provide space for the Center to produce local cable access television programming. The Village Bank purchased the bond.
“Newton Communications Access Center provides individuals with the means necessary to voice their opinions by giving them access to professional equipment and training,” said MassDevelopment Executive Vice President of Finance Programs Laura Canter. “We are pleased to provide NewTV with this low-cost financing so the organization can buy its home and devote more time to producing and broadcasting quality local programming to the Newton community.”
Newton Communications Access Center, founded in 1990, is a state-of-the-art media center dedicated to providing quality local programming and training to the diverse Newton community. NewTV’s three channels (Community, Education, and Government) provide an accessible platform for expression and innovation and an alternative voice to mainstream media. Over the past 10 years, NewTV has received awards and recognition for its work, including nine Boston/New England Emmy® Awards in categories ranging from Outstanding Director/Post Production to Outstanding Historical/Cultural Program/Special.
“NewTV is extremely fortunate to have partnered with MassDevelopment and Village Bank on this project,” said NewTV Executive Director Robert S. Kelly. “By securing a tax-exempt bond, we have guaranteed that 23 Needham Street will be the long-term home for our dedicated members, volunteers, and staff. We are grateful to the MassDevelopment team for ably assisting us throughout the process.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy. These projects are projected to create about 8,200 jobs and build or rehabilitate about 4,200 residential units.