Massachusetts Development Finance Agency Hearing

Notice is hereby given that a telephonic public hearing will be conducted by the Massachusetts Development Finance Agency (“MassDevelopment”) at 11:30 a.m. on Tuesday, July 9, 2024, with respect to the proposed issuance by MassDevelopment, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of bonds in the maximum aggregate principal amount of $47,000,000 (the “Bonds”).  The total estimated project costs are $69,100,000.

Pursuant to IRS Revenue Procedure 2022-20, providing guidance for the holding of teleconference public hearings in conformance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), the public hearing will be held via the following toll-free telephonic conference line‎:

• Dial In: 888-305-1655
• Participant Code: 309-639

The Bonds will be issued to provide for the financing or refinancing of, or the reimbursement of funds advanced by Middlesex School (the “Institution,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) with respect to educational facilities owned or to be owned by the Institution which are or will be located in Concord, Massachusetts (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest, issuance costs and associated working capital expenditures). In particular, the Bond proceeds will be loaned to the Institution and used to fund costs of the following facilities with a main address of 1400 Lowell Road, Concord, Massachusetts 01742, and generally bounded by Lowell Road, Westford Road, just south of Bartkus Farm Road, Lindsay Pond Road and wetlands and forest land and other private parcels (the “Campus”), or adjacent or proximate sites: (i) the demolition of an existing building on the site of the new field house and the construction of a new 80,000 square foot field house, which will house an athletic practice facility; (ii) resurfacing and restoration of two turf fields; (iii) envelope, structural and interior work on the Campus buildings, including the Athletics Facility, Hallowell House (dormitory), the Peabody House (dormitory), the Kravis House (dormitory), and the Bass Arts Pavilion; (iv) structural work on the smokestack and envelope of the Rachel Carson Center; (v) envelope work and replacement of windows and doors in Bryant-Paine House (dormitory); (vi) construction of welcome stations and gates at entrances to the Campus and security and lighting system installation and related construction costs; (vii) the  restorative work/potential rebuild of the Waste Water Treatment Plant and the underground lines leading to the plant; and (viii) other deferred maintenance projects and other capital improvement projects located on the Campus and utility system (collectively, the “Project”).

The Bonds will constitute qualified 501(c)(3) bonds for charitable purposes, and will not constitute a general obligation of, or a pledge of the faith and credit of MassDevelopment or a general obligation of, or a debt or pledge of the faith and credit of The Commonwealth of Massachusetts.

Interested persons wishing to express their views on such Project and the proposed issuance of revenue bonds to finance and refinance the costs of such Project will be given the opportunity to do so at the telephonic public hearing or may, prior to the time of the public hearing, submit their views in writing to the Issuer at 99 High Street, 11th Floor, Boston, Massachusetts 02110.  Persons desiring to participate at the telephonic public hearing must make a written request at least 24 hours prior to the hearing by email to tefrahearinginfo@MassDevelopment.com or by mail to MassDevelopment, 99 High Street, Boston, MA 02110, Attn:  TEFRA Hearings.