Private Massachusetts boarding school receives $45 million tax-exempt bond for facility upgrades

Fay School, Inc., a private day and boarding school in Southborough, Mass., is updating its facilities with the help of a tax-exempt bond from MassDevelopment. 

The $45 million tax-exempt bond is renovating the school's Root Academic Building and is constructing a new Center for Creativity and Design, MassDevelopment  says in a news release.  

“This tax-exempt financing will help the Fay School stay competitive with a new high-tech design space that will ensure students are better prepared for future academic and professional opportunities,” said MassDevelopment President and CEO, Dan Rivera.

The center will provide a high-tech design and fabrication lab spaces for its students. 

The school serves about 475 students in grades kindergarten through nine.