Massachusetts Development Finance Agency

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 December 10, 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 $6,500,000 (the “Bonds”).  The total estimated costs of the project are $8,600,000.

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 Veritas Christian Academy, Inc. (the “Borrower,” 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 Borrower which are or will be located in Wayland, 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 Borrower and used to fund costs of the following project (the “Project”):  (1) financing of, and the refinancing of conventional debt which financed, the acquisition an eight-acre property located at 164 Cochituate Road, Wayland, MA, which property includes an approximately 8,000 square foot building that is being used for current and future administrative uses, (2) renovating, equipping and furnishing an approximately 2,800 square foot house/building located at the adjoining two-acre property at 172 Cochituate Road, Wayland, MA and financing the costs of renovation of a garage building located at 164 Cochituate Road, Wayland, MA to create two temporary classrooms and related sitework, and (3) construction, renovation, equipping and furnishing of a middle school located at 164-168-172 Cochituate Road, Wayland, MA 01778, which will include a building totaling approximately 7,000 square feet.

The Bonds, which will constitute qualified 501(c)(3) bonds for charitable purposes, 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.

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 public hearing or may, prior to the time of the public hearing, submit their views in writing to Massachusetts Development Finance Agency, 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.