PROVINCETOWN – MassDevelopment has issued a $4.5 million tax-exempt bond for the Pilgrim Monument and Provincetown (PMPM) to help fund its Bradford Access Project.
The project includes building an inclined elevator to connect PMPM to downtown Provincetown.
Other components of the project include adding ADA-compliant parking spaces, updating walkways, lighting, landscaping and signage.
The Cooperative Bank of Cape Cod purchased the bond.
“With these improvements, Provincetown’s rich cultural history on display at the Pilgrim Monument and Provincetown Museum will be more accessible to the downtown area and to visitors of all abilities,” said MassDevelopment President and CEO Lauren Liss.
“MassDevelopment is proud to help the Cape Cod Pilgrim Memorial Association complete this project with tax-exempt financing.”
In 2018, the Cape Cod Pilgrim Memorial Association received two Cultural Facilities Fund grants: a $200,000 Capital Grant to support the Bradford Access Project, and a $7,000 Systems Replacement Plan Grant to provide a 20-year capital needs assessment of the building and its mechanical systems.
MassDevelopment and Mass Cultural Council jointly administer the Cultural Facilities Fund, a state program that provides capital and planning grants to nonprofits, colleges, and municipalities that own or operate facilities primarily focused on the arts, humanities, and sciences.
“The Bradford Access Project is much more than an inclined elevator,” said Pilgrim Monument and Provincetown Museum Executive Director K. David Weidner.
“It will provide a crucial physical and economic link between the Pilgrim Monument and downtown Provincetown. We are very grateful for all our partners, like MassDevelopment, who recognize the long-lasting benefits that this project will bring to the entire community and have supported its completion. This is a small first step in turning PMPM into a world-class destination for families and history lovers.”
Founded in 1892, the Cape Cod Pilgrim Memorial Association is Cape Cod’s oldest 501(c)3 nonprofit.
Its dedication to cultivating truth, education, and inclusion fuels its mission to preserve the rich heritage of Provincetown and its original inhabitants, the Wampanoag Nation.
The organization also manages the collection, preservation, research, exhibition, and publication of archival materials on all aspects of Provincetown history, including the rise of the whaling industry, the advent of the Portuguese fishing community, and the evolution of Provincetown as a center of tolerance, art, and theater in the 20th century, including the important role of the LGBTQ+ community.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth.
During FY2019, MassDevelopment financed or managed 316 projects generating investment of more than $2 billion in the Massachusetts economy.
The projects are estimated to create or support 9,743 jobs and build or preserve 1,992 housing units.
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