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MassDevelopment Issues Bond to Sports-Oriented Roxbury Nonprofit
MassDevelopment has issued a $2.8-million tax-exempt bond on behalf of The Baseball, Inc., which does business as “The BASE.” The nonprofit provides student athletes with year-round, athletic and academic training, access to college fairs and showcases, professional visits, and academic scholarships available through partnerships with several colleges and universities throughout the country.
The BASE used bond proceeds and funds raised from local philanthropies to buy a building at 150 Shirley St. in Boston’s Roxbury neighborhood, which it previously leased, and an adjacent parcel of land that will be used for parking. Eastern Bank purchased the bond, which helped The BASE achieve a lower cost of capital.
“MassDevelopment is proud to help The BASE cement its place in the Roxbury neighborhood, which will help them continue their investments towards the quality of life and growth of this community and its young residents,” said MassDevelopment deputy director and senior EVP Marcos Marrero.
- ◦Financing
