MassDevelopment, the state’s finance and development agency, said it has issued a $9 million tax-exempt bond on behalf of Labouré College, a Catholic school that focuses on health care education.
The college plans to use bond proceeds to renovate its five-acre campus in Milton. The school will also use proceeds to refinance previous debt from the purchase of the campus. Labouré College, which will move from its current Dorchester location, expects the project to create five jobs. The bond was purchased by Blue Hills Bank.
“Labouré College provides its diverse group of future medical professionals with small classes and personalized attention,” MassDevelopment President and chief executive Marty Jones. “We are pleased this financing will enable Labouré to serve students in its new location.”
During fiscal 2012, MassDevelopment financed or managed 280 projects generating investment of more than $2.3 billion in the Massachusetts economy. These projects are projected to create more than 12,000 jobs and build or rehabilitate 900 residential units.Chris Reidy can be reached at firstname.lastname@example.org.