The Cumberland County Industrial Development Authority has approved an expected $60 million bond package for Messiah College's development venture in Upper Allen Township.

The authority voted Wednesday to procure the financing on behalf of Rider-Musser Development, the arms-length corporation created by Messiah as part of its bid to commercially develop unused school-owned land to help offset rising education costs.

Messiah College's endowment will also provide a guarantee of the debt service to obtain lower interest rate offers from banks, said Barbara Beckman of Ballard Spahr, the IDA's bond counsel.

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