EASTHAMPTON — A $4 million tax-exempt bond will fund several projects that will upgrade the Williston Northampton School campus.
The bond — purchased by People’s United Bank — was issued to the Easthampton independent boarding and day school by MassDevelopment, the state’s development finance agency and land bank. The 125-acre campus will receive improvements to its academic buildings, dormitories, the chapel, the head of school’s residence and outdoor facilities. It will also fund the installation of new heating systems, windows and card access systems, the purchase of equipment and technology, and repavement of the athletic center parking lot.
The improvements will aid in better serving the approximately 490 students from 19 states and 26 countries, as well as the staff that includes 227 full- and part-time employees, said Chief Financial Officer Chuck McCullagh.
Samuel and Emily Williston formed a coeducational school called Williston Seminary in 1841 that was renamed to Williston Academy in 1924 when a more “modern” curriculum was adopted. Sarah Whitaker and Dorothy Bement founded the Northampton School for Girls in 1924. The two institutions merged in 1971 to form the Williston Northampton School.
While the tax-exempt status of the bond has concerned some, Easthampton Mayor Nicole LaChapelle said that the amount of people that the school brings to live and shop in the city is a good thing.
”Easthampton wouldn’t be where it is right now without the Williston Northampton School, that’s the bottom line,” said LaChapelle. “And the fact that they would go out and so assertively borrow money to keep their campus at that level is thrilling to me. Every one of those $4 million is an investment in Easthampton as a whole and it will lift us all up.”
During fiscal year 2021, MassDevelopment financed or managed 416 projects generating investment of more than $1.86 billion in the state’s economy. These projects are estimated to create and/or support 6,578 jobs and build or preserve 1,909 housing units.
Emily Thurlow can be reached at ethurlow@gazettenet.com.
