MassDevelopment has issued a $10 million tax-exempt lease on behalf of Brandeis University in Waltham, which will use lease proceeds to buy equipment and renovate both Lindsey Pool and the university’s information technology network.

Pool renovations will include new mechanical and electrical infrastructure, new locker rooms, repairs to the pool and pool deck, a new entryway and lobby updates. Brandeis temporarily closed the pool due to deterioration of the pool’s infrastructure and resulting maintenance issues, and reopening the pool has been one of Brandeis’s priorities. The university anticipates completing the project in early 2012.

"Tax-exempt leases offer interest rate savings for equipment and renovation projects such as Brandeis’s work on Lindsey Pool," said MassDevelopment President and CEO Marty Jones. "We’re pleased this low-cost financing can help the university complete one of its key capital projects."

"Our partnership with MassDevelopment allows us to serve our students, by providing equipment and renovation projects that will enhance their university experience," said Frances A. Drolette, senior vice president for finance and chief financial officer.