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Tuesday, January 16, 2007

Montrose School gets financial backing

MEDFIELD

The Montrose School will open the doors to its first permanent campus in downtown Medfield later this month, thanks in part to financial backing from the state.

MassDevelopment, a quasi-public agency that encourages development in the state, provided a $6 million tax-exempt bond that will help pay for the renovation of buildings and construction of athletic fields at the school's new 13.5-acre site.

The bond proceeds will also help the school refinance existing loans used to purchase the property.

MassDevelopment's support of the Montrose School was part of $17.5 million in tax-exempt bonds issued by the state on behalf of three private schools.

-- Charlie Russo

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