$18M Bond Issued to Fund MSPCA’s New Critical Care Unit
The MSPCA will use proceeds from a $18,417,298.61 tax-exempt bond issued by MassDevelopment to build a new two-story addition. The MSPCA will use bond proceeds to build and equip a two-story, 9,000-square-foot addition at its Angell Animal Medical Center in Jamaica Plain. The organization will then relocate its ward operations from its existing facility to the addition, creating space for a new state-of-the-art Critical Care Unit, according to a press release from MassDevelopment. MassDevelopment said that TD Bank purchased the bond, which will also be used to refinance previously issued debt. MassDevelopment and TD Bank teamed up in 2016 to help the MSPCA by issuing a $7 million tax-exempt bond, purchased by the bank to help MSPCA renovate their facility.