MassDevelopment

Williams College To Build Library, Media Center With Help From $89 Million MassDevelopment Bond

March 30, 2011


Contacts:
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077
Angela Schaeffer, Williams College, 413-597-2025
James Kolesar, Williams College, 413-597-4233

MassDevelopment has issued $89.21 million in tax-exempt bonds on behalf of the President and Trustees of Williams College, one of the top liberal arts colleges in the country. The College plans to use a portion of the bond proceeds to build a library and media center; improve its football and track and field facilities; renovate Chapin Hall, a historic performance space; and complete other repair and renewal projects across the campus.

“Williams College has a proud tradition of academic and athletic achievement in the Berkshires,” said MassDevelopment Executive Vice President of Finance Programs Laura Canter. “Supported by low-cost financing, the College will improve its facilities and continue to provide its students with cutting-edge education. MassDevelopment is pleased to support both the Commonwealth's higher education institutions and its vibrant western region through this investment.”

Founded in 1793 with funds bequeathed by Colonel Ephraim Williams, Williams College serves about 2,000 undergraduate students. The College also has graduate programs in history of art and development economics. Williams has three academic divisions – humanities, sciences, and social sciences – and 25 departments with 36 majors, plus concentrations and special programs. The student to faculty ratio is 7:1.

“We are delighted to be able to move these important projects forward and greatly appreciate the important role MassDevelopment played in the successful issuance of the bonds,” said Williams College Provost and Treasurer Bill Lenhart.

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.