CHICOPEE, Mass. (WWLP) – MassDevelopment, the state’s finance and development agency, has awarded a $3 million tax-exempt bond to the Center for Human Development, Inc. (CHD).
The non-profit agency offers programs and services throughout western Massachusetts to families impacted by behavioral health needs. CHD expects to create 250 full-time jobs and 100 part-time jobs in the next three years with these projects.
According to a news release from MassDevelopment, CHD will use the proceeds to buy four residential group homes in Chicopee and Springfield that will house 24 individuals with developmental disabilities and behavioral health care needs. They will also buy and renovate a commercial building at 55-69 Union St. in Easthampton to be used for behavioral health outpatient services, including urgent care.
“For decades, the Center for Human Development, Inc. has provided care and services to countless individuals and families in western Massachusetts and beyond,” said MassDevelopment President and CEO Dan Rivera. “MassDevelopment is proud of our longstanding relationship with CHD, and pleased that this tax-exempt financing will help the nonprofit move forward with the purchase of four new group homes and an outpatient center, and the creation of hundreds of human services jobs.”
PeoplesBank purchased the bond, which helped CHD achieve a lower cost of capital.
“PeoplesBank is proud to support the work of CHD, as they provide invaluable assistance to so many members of our communities,” said PeoplesBank Senior Vice President of Corporate Responsibility Matthew Bannister. “In addition to providing financial grants for several specific CHD initiatives, and having our associates volunteer their time on behalf of the organization, our involvement in the financing of this project is another tangible demonstration of our support for CHD.”
A total of $10.1 million in tax-exempt bonds were issued to support the Center for Human Development for the following previous projects:
- Construction for the Recovery Service Program in South Hadley
- Purchase and renovate a group home in East Longmeadow
- Renovate an administrative office building in Springfield
- Purchase three new group homes
- Renovate and furnish a 24,579-square-foot building on Main Street in Greenfield to provide outpatient behavioral health and wellness services, and house the Community Health Center of Franklin County’s primary medical and dental clinics.
- Purchase two buildings at 622 State St. and 342 Birnie Ave. in Springfield
“This financing empowers our work and enables us to develop services to fulfill our mission and meet community needs,” said Center for Human Development, Inc. President and CEO Jim Goodwin. “Delivering essential care in the communities where people live is a core aspect of our 50-year existence as a not-for-profit provider, and we thank PeoplesBank and MassDevelopment for their outstanding support.”