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HomeMy WebLinkAbout1999-08-04 Correspondence ATTORNEYS AT LAW HOS 1 0 Pq R?,S F RAIN K 1,1 KIV S F R E E I Ilf747 PLNWYLVAHRA AVILNUL, NAN fMSTON, MA,SSACHUSLI IS ORHO,28W I WASHIN4,00N. D.C. �000z 4604 44_�171 345-7000 l2027.4PS 9600 FAX-.IGO) FAX;l 4Pf-j F'ebruai-y 29, 2000 By Overnight Delivery Kathleen Colwell-Bradley Plaruier is I'own of North Andover— Municipal Building 120, Main Street NA 11 2 2000 North Andover,, MA 01 �ir845 p'l 3vLfH R,e: EPApj-f MEN,. Massachusetts Development Finance Agency Revenue Bonds Merrimack College Issue,Seriles .2000 Dear Ms. Colwell-Bradley: Ilic Board of Directors of the Massacliusetts Develo pine nt Finance Agency the "Agency" gave i(s a proval to certain prqiccts described in the Surnniary of Pro P jects attached as Exhibit A hereto and expected to be undertaken by Merriniack College (the "Institution") at the locations set forth on the attached Sunimaq. Because theInstitutioil is an "institittion" as such term is defined iota Chapter 23 G of the Massachusetts Genera I Laws, as amended (the "y Act"), the AgencY ; may finan a, n o ce all or portiof such projects from the ' proceeds of the Agen.ey's blonds issued pursuant to the Act. l some purpose of this letter is, to notify you, on behalf of the Agency, of such prqjects as pr'ovided in paragraph (a), of'Slection 8 of Chapter 23G. Please do not hesitate to contact the undersigned or David T. Slatery at the Agency directly should you have any questions,regarding these projects. Very truly yours, David'T. kluison Paralegal enclosure c'e: David T, Slatery, General. Counsel - MassDevelopment EXHIBIT SUMMARY AIRY OF PRO,IIrCTS The Project consists generally of the financing or refinancing, or the reimbursement of funds advaiwed by Merrimack College (the "Borrower", which term includes for puiposes of thds Notice any parent, subsidiary or other affiliate thereoO irelated to facilities owned or to he owned by the 13orrower which are or will be located at 315 Turnpike Street, in North Andover and Andover, I as,=busetts (the " ampus'}, in particular, the (i) construction and equipping of an approximately 65,000 square foot addition (which will include, without limitation, the demolition cif an existing power plant facility and associated capital costs in connection therewith) to the existing approximately 70,000 square foot Gildea Hall, which is cuiTtmtiy and will be used as the new Campus Center, (ii) miuvations and improvements to the existii approximately 70,000 square foot athletic facility known as the 'Volpe Center, (iii) renovations and improvements to the existing approximately 75,000 square foot Ash Centre, the existing approximately 85,000 square foot Mohican Centre-, the existing approximately 30,000 square foot Towifliouses, the existing approximately 30,000 square foot St. Thomas Apaitments, and the existing approximately 32,000 square foot St. Arne Apartments, each of which are currently and will be used as student residence halls, (iii ceitain improvements to the Campus drainage system, (iv) certain improvements to the Campus athletic fields, and v) certain other miscellancous capital projects on aCampus- wide basis, including, but not limited to, the costs associated with the relocation of students and staff during construction/nmovation.