Elms College used the NMTC to construct a new Center for Natural and Health Sciences. The center is designed to provide modern facilities to better prepare students for careers in nursing, science and technology.
“Completion of the Center for Natural and Health Sciences realizes a longstanding need for state-of-the-art facilities to support our growing programs in nursing, health and physical sciences and computer information technology,” Elms President Mary Reap said in a press release. “We are truly grateful to our board of trustees and the many donors who’ve made this possible.”
The new facility was financed with $12 million in New Markets Tax Credit financing from Massachusetts Housing Investment Corp., with PeoplesBank and United Bank as investors. Financing for the project also came from a capital campaign and from tax-exempt bond proceeds lent to Elms College by a consortium of local banks, led by Chicopee Savings Bank.