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MASCO Improves Transportation Services With $13M MassDevelopment Lease

Jul 30, 2013 | Reprints | Unlock Link | Print

MassDevelopment has issued a $13,480,059 tax-exempt lease on behalf of Medical Academic and Scientific Community Organization (MASCO), a nonprofit serving workers, students, and patients in Boston’s Longwood medical area.

The organization will use lease proceeds to buy passenger buses and vans for its shuttle services for MASCO member employees and students. The shuttles run to and from MBTA stations, between Harvard University’s Cambridge and Longwood campuses, and to and from off-site parking. J.P. Morgan Chase Bank purchased the lease.

"With this flexible, equipment-specific financing, MASCO can improve transit services for employees and students of this economic and educational hub in Boston," MassDevelopment President and CEO Marty Jones said in a statement.

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