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The Cape Cod 5 Leadership Team on Tuesday held a ribbon-cutting ceremony onsite at its new $45 million headquarters on Route 132 at Attucks Lane in Hyannis.
All of the bank’s operations staff members will be housed at the three-story, 80,000-square-foot HQ5, whose 11-acre campus also includes an adjacent Hyannis Route 132 Banking Center and the Cape’s first underground parking garage.
The new building will office approximately 300 bank employees who previously worked at four different administrative offices.
A statement released later on Tuesday relayed the bank’s deepest appreciation to the Cape Cod Commission, Town of Barnstable, Barnstable Police Department and Barnstable Fire Department for their help in making the new campus a reality.
The Cape Cod Hospital (CCH) patient care tower, which will be located on the southwest end of the hospital and will become the new main entrance area to the hospital, will advance the organization’s ability to provide locally accessible and high-quality care by enhancing key service areas, like cardiac, cancer, intensive care, women’s health and medical surgery.
The new patient care tower will:
The new patient care tower is expected to create 80 new jobs at CCH, 250-300 construction jobs over the course of the three-year project, and multiples of support jobs in the community.
The Town of Barnstable was selected for the Opportunity Zone Program created by the Tax Cut and Jobs Act of 2017. More information can be found here: https://www.businessbarnstable.com/opportunity-zone
Debra Blanchette, Town Treasurer, announced that the Town received competitive bids from bond and note underwriters on Wednesday, February 6, 2019, for a $10,540,000, 20-year bond issue and a $2,052,950, 1-year taxable note issue. Morgan Stanley & Co., LLC was the winning bidder on the Bonds with an average interest rate of 2.52%. Oppenheimer & Co., Inc. was the winning bidder on the Notes with a net interest cost of 3.05%. The Town received a total of 9 bids on the Bonds and 3 bids on the Notes. Bond and Note proceeds will be used to finance various capital projects.
Prior to the sale, S&P Global Ratings, a municipal bond credit rating agency, affirmed the Town’s ‘AAA’ bond rating, the highest rating attainable. The rating agency cited the Town’s very strong economy, very strong management with strong financial policies and practices, strong budgetary performance, very strong budgetary flexibility, very strong liquidity, strong debt and contingent liability profile, and strong institutional framework as positive credit factors.
The bids for the Bonds and Notes were accepted at the offices of the Town’s Financial Advisor, Hilltop Securities Inc., at 54 Canal Street in Boston, Massachusetts.