WILLIAMSTOWN - MassDevelopment has issued $126.1 million in tax-exempt bonds on behalf of Williams College.
Williams will use bond proceeds to finish construction of a new library and media center, renovate an outdoor athletic complex, and relocate and renovate Kellogg House, the site of the school?s Center for Environmental Studies and Zilkha Center for Environmental Initiatives.
The library project is expected to be completed in 2014.Consigli Construction Co., Inc. of Milford is the general contractor.
MassDevelopment said bond proceeds will also finance an addition to Kellogg House on campus, a natural gas-fired engine generator for electricity and steam heat for the, and other upgrades and capital improvements to the Williams physical plant. Bond proceeds will also refund previous debt.
In 2011, MassDevelopment issued $89.21 million in tax-exempt bonds on behalf of Williams, including the renovation of Chapin Hall, a historic performance space, and the completion of other repair and renewal projects.
MassDevelopment, the state?s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth, according to a news release. During FY2012, 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.
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