Massachusetts Development Finance Agency Hearing

The Bonds will be issued to provide for the financing or refinancing of, or the reimbursement of funds advanced by Boston Architectural College (the "Borrower," which
term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) related to facilities owned or leased by the Borrower which are located in Boston,
Massachusetts (the "Municipality"), (including without limitation such financing, refinancing or reimbursement of bond reserves, and issuance costs).