PROVIDENCE, R.I. – The Rhode Island Health and Educational Building Corporation (RIHEBC) announced the issuance of $5 million in Educational Facility Revenue Refunding Bonds on behalf of Meeting Street.
The tax-exempt bonds closed on December 31, 2018 and will be used to refund the $5 million in outstanding RIHEBC Series 2017B bonds issued for Meeting Street. Executing the refunding enables Meeting Street to participate in the New Markets Tax Credit Program and continue with its campus expansion project at 1000 Eddy Street in Providence.
Meeting Street is a nationally recognized nonprofit organization dedicated to providing comprehensive educational, therapeutic and developmental services to children and young adults, including those with special needs.
RIHEBC is Rhode Island’s largest municipal and non-profit financing entity, with more than $8.7 billion in bonds issued over the past 52 years.
# # #
About The Rhode Island Health and Educational Building Corporation
The Rhode Island Health and Educational Building Corporation (RIHEBC) mission is to assist eligible borrowers to secure funding for capital projects, especially tax-exempt debt financing. Eligible borrowers include municipalities, public school districts, and public and private nonprofit educational and healthcare organizations. RIHEBC endeavors proactively to develop cost-effective, efficient, and user-friendly financing programs. RIHEBC provides borrowers access to high quality professional and technical resources, including staff expertise and assistance. For more information visit www.rihebc.com.
About Meeting Street
Founded in 1946 as a small center on the eastside of Providence for children with special needs, Meeting Street now serves children of all abilities and is a national thought leader on inclusive education and early childhood development. Serving more than 5,000 children and families per year across New England, Meeting Street’s mission is to compassionately and innovatively empower children and their families to thrive by fostering the development of the whole child.