Laboure College Buys, Renovates Milton Campus With $9 Million MassDevelopment Bond

Laboure College Buys, Renovates Milton Campus With $9 Million MassDevelopment Bond August 26, 2013 MassDevelopment has issued a $9,040,000 million tax-exempt bond on behalf of Labouré College. The College will use bond proceeds to renovate its five-acre campus at 303 Adams Street in Milton. The school will also use proceeds to refinance previous debt from the purchase of the campus. Labouré College, which will move from its current Dorchester location, expects the project to create five jobs. Blue Hills Bank purchased the bond.

"Labouré College provides its diverse group of future medical professionals with small classes and personalized attention," said MassDevelopment President and CEO Marty Jones. "We are pleased this financing will enable Labouré to serve students in its new location."

This past May, the College partnered with local comedian Lenny Clarke, sportswriter Bill Burt, and Coach of the New England Patriots, Bill Belichick, in a successful fundraising event to help defray renovation costs. Renovation has been significant at the 303 Adams Street campus and has included new parking, the construction of an elevator shaft, ADA compliance measures, air conditioning and the addition of a wireless infrastructure. "Labouré's commitment to diversity in both its student population and patient care is exemplary," Bill Belichick.

"At Labouré, it is our mission to prepare our students for successful, family–sustaining careers in health care," said Labouré College spokesperson Katelyn Dwyer. "Our new Milton campus is allowing us to create an even better learning environment for our students. We are very grateful for the MassDevelopment bond and to Blue Hill Bank for helping the College secure its future in health care education." Labouré College is looking forward to welcoming students to its new Milton campus on September 9, 2013.

The College disaffiliated with Steward Health Care on June 30, 2013. Previously owned by Caritas Christi, Labouré will be independent for the first time. The split from Steward Health Care was an amicable one and Labouré students will continue to learn clinical skills in Steward hospitals as well as several other teaching hospitals in he Boston area.

The Milton location is better-suited to the College's needs and will provide capacity for expected growth. In 2008, Labouré launched a new and innovative BSN for RNs program, developed by Boston Chief Nursing Officers and catering to the working nurse. The program has since been formally accredited with high praise and has caused an increase in student enrollment.

"The college community is excited about the move to 303 Adams Street," Labouré President Maureen Smith commented. "We are blessed to have found a location that will provide us the room we need to grow while remaining part of the Lower Mills community. We look forward to working with our new neighbors at Fontbonne Academy and the Sisters of St. Joseph."

Founded in 1892 Labouré College is a Catholic, private, non-residential college solely focused on health care education. The College offers a bachelor's degree in nursing and associate degrees and certificate programs in nursing, radiation therapy, nutrition, medical coding, health information technology and neurodiagnostic technology. Please visit www.laboure.edu to learn more.

FOR IMMEDIATE RELEASE: August 26, 2013

CONTACTS:

Katelyn Dwyer, Director of Communications, Laboure College
Katelyn_dwyer@laboure.edu
617-934-2481 x.4004

Kelsey Abbruzzese, MassDevelopment
kabbruzzese@massdevelopment.com
617-330-2086
617-448-9077 (cell)