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MassDevelopment issues $45.7 million tax-exempt bond for Smith College

The proceeds will fund upgrades including HVAC work, accessibility improvements, and repairs to the Lamont Bridge at Smith College’s Northampton campus.

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MassDevelopment issued a $45.7 million tax-exempt bond for The Trustees of Smith College to pay for renovation projects at the college’s Northampton campus, according to ConnectCRE.

Barclays Capital acted as the lead underwriter and sold the tax-exempt bonds through a public offering, the outlet reported.

Smith College plans to use the bond proceeds for a range of capital improvements, including renovating HVAC and air-handling systems at the Burton and Sabin-Reed science buildings, renovating the HVAC system at Sage Hall, and replacing a combustion turbine for backup power generation.

The financing also supports accessibility upgrades across various campus buildings, stabilization work along the Mill River bank, and repairs to Lamont Bridge, ConnectCRE added.

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