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Last updated: 04/21/2017 - 12:52pm

Massachusetts Development Finance Agency Hearing

The Massachusetts Development Finance Agency is holding a Hearing on May 9 at 11:00 a.m.

Discussion Topics

  1. 11:00 A.M. Agenda

    Notice is hereby given that a public hearing will be conducted by the Massachusetts Development Finance Agency (“MassDevelopment”) at 11:00 a.m. Tuesday, May 9, 2017, at its offices located at 99 High Street, Boston, Massachusetts 02110, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of notes in the maximum aggregate principal amount of $8,826,102 (the “Notes”).  If the Issuer’s offices are closed on May 9, 2017 due to unforeseen circumstances, including without limitation adverse weather conditions, the public hearing will be held on the next business day on which the Issuer’s offices are open at the same time and location. The total estimated project costs are $17,538,429.  The Notes will be issued to provide for the financing and/or refinancing of, and the reimbursement of funds advanced by Egleston Infill LLC (the “Borrower,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) with respect to certain facilities owned or to be owned and operated by the Borrower (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest and issuance costs), generally consisting of the financing of, and/or the refinancing of certain facilities located in Boston, Massachusetts 02119, in particular, the acquisition of two parcels of land located at 67 Walnut Park (a 0.33 acre lot that currently includes a long-vacant and blighted house to be demolished in connection with the Project), 2040 Columbus Avenue (a 0.22 acre vacant lot adjacent to, and to be combined with, 67 Walnut Park), and 80 Walnut Park (a 0.25 acre vacant lot that is diagonally across from 67 Walnut Park), the demolition of the house at 67 Walnut Park, and the construction, furnishing and equipping on such parcels of the Walker Park Apartments, consisting of one building on the 67 Walnut Park parcel and one building on the 80 Walnut Park parcel, constituting in the aggregate a 49 unit affordable multi-family apartment facility to include 13 one-bedroom units, 28 two-bedroom units and 8 three-bedroom units, and the construction of 22 parking spaces for Walker Park Apartments at 2040 Columbus Avenue, and 12 parking spaces at 80 Walnut Park, all said facilities owned and operated, or to be owned and operated, by the Borrower (collectively, the “Project”).

                The Notes 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 notes 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, Boston, Massachusetts 02110.