The Boston Industrial Development Financing Authority (BIDFA) promotes economic growth and employment in the City of Boston by issuing bonds that finance the capital needs of the city’s businesses and institutions. It is guided by Boston residents with professional expertise in real estate development and finance.

BIDFA has helped issue nearly $550 million in bonds and has helped to create and retain over 20,000 jobs since 1972.

In 1971, BIDFA was created under Massachusetts General Laws Chapter 40D. In 1972 it was constituted as a board of the City of Boston and began its work as an affiliate of the Economic Development and Industrial Corporation of Boston (EDIC), a division of the Boston Planning & Development Agency (BPDA).

The Board of Directors is a board of the City of Boston. The following directors are appointed by the mayor:

  • Katherine Kottaridis (Chair)
  • Gerardo Espinoza
  • Sammy Nabulsi

Success Stories

Melnea Hotel and Residences

In December 2016,  BIDFA, as conduit issuer of an Enterprise Zone (EZ) Facility Bond, closed on $21.5 million in financing to construct Roxbury’s new Melnea Hotel.

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East Boston Neighborhood Community Health Center

East Boston Neighborhood Community Health Center (EBNHC) was issued a $11.2 million tax-exempt 501(c)(3) bond through BIDFA.

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Boston Renaissance Charter Public School

Boston Renaissance Charter Public School was issued a $16.6 million tax-exempt 501(c)(3) bond through BIDFA.

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Types of Bonds Available

Financing available through BIDFA includes:

  • tax-exempt bonds for non-profits,
  • tax-exempt industrial development bonds (IDBs) for manufacturers,
  • and taxable bonds.

Our bonds may be used to finance:

  • acquisition & construction,
  • expansion,
  • and capital expenses (equipment, furnishings and other capital needs.)

By utilizing BIDFA, qualified borrowers can finance their capital needs through the issuance of tax exempt or taxable debt, generally resulting in significant interest cost savings. The credit of the borrower, and not that of the City of Boston, BIDFA, or the Commonwealth of Massachusetts, is pledged to repay the bonds.


Tax Exempt Lease Program (TELP)

As the coronavirus shutdown has threatened nonprofits’ funding, opportunities to find cost savings are more important than ever. Simultaneously, Boston-based nonprofit institutions are striving to meet the City’s carbon neutrality goals. But installing energy-saving measures can require investments that many nonprofit institutions are unable to make. The Boston tax-exempt lease program (TELP) can help. Boston nonprofits can take advantage of this affordable energy-savings program with no up-front costs.

As an approved performance contractor of the program, GreenerU can work with museums, universities, healthcare centers, and other 501(c)(3) entities to identify and implement comprehensive energy upgrades.

Learn more about the Tax Exempt Lease Program (TELP) at GreenerU.com

On December 9, 2020, GreenerU’s David Adamian, BIDFA’s Bill Nickerson and Gisella Soriano, and the City of Boston’s Brenda Pike presented an information session on TELP. Watch the webinar below or view additional resources at GreenerU.com for more information.

Contact Us

To find out more about BIDFA and to see if you qualify, please contact us.