Massachusetts Development Finance Agency Meeting

The Massachusetts Development Finance Agency (“MassDevelopment”) will conduct a public hearing at 9:00 a.m. on September 3, 2026, at MassDevelopment’s offices located at 99 High Street, 11th Floor, Boston, Massachusetts 02110, with respect to the proposed issuance by MassDevelopment, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of draw down bonds in the maximum aggregate principal amount of $15,370,000 (the “Bonds”). The total estimated costs of the below defined Project are $56,286,000.

The Bonds will be issued to provide for the financing and/or refinancing of, and the reimbursement of funds advanced by 90 Cushing North Four Limited Partnership, a Massachusetts limited partnership (the “Borrower,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof), with respect to certain property owned or to be owned and operated by the Borrower (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest, issuance costs and associated working capital expenditures), generally consisting of the financing of, and the refinancing of affordable residential rental housing facilities, including without limitation the redevelopment of a portion (said portion consisting of approximately 41,545 square feet (the “Portion”), and
intended to be subject to a ground lease by St. Mary’s Center for Women and Children, Inc., as fee owner, to 90 Cushing North Limited Partnership, as ground tenant, which ground tenant will in turn form a 2-unit leasehold commercial condominium on said Portion, and convey one (1) commercial unit to the Borrower by unit deed) of the 3.4-acre main campus of St. Mary’s Center for Women and Children, which campus is located at 90 Cushing Avenue in Boston, Massachusetts (the “Campus”), such redevelopment consisting of (i) the demolition of an existing parking garage and the North building on the Portion, and (ii) the construction on the Portion of a Passive House certified 71 unit supportive housing facility for low income tenants in a five story building over a 62-space parking garage, and functionally related and subordinate facilities on the Portion (with 51 apartment units allocated to the Bonds, and with such 51 apartment units and related facilities on the Portion constituting the “Project”) (with the remainder of the Portion and of the Campus being subject to separate renovation activity). At least forty percent (40%) of the apartment units at the Project are expected to be occupied by tenants with income not exceeding sixty percent (60%) of area median income.

The Bonds, which will constitute exempt facility bonds for a qualified residential project within the meaning of Sections 142(a)(7) and 142(d)(1) of the Code (namely, the Project), and will not constitute a general obligation of, or a pledge of the faith and credit of the Issuer or a general obligation of, or a debt or pledge of the faith and credit of the Commonwealth. Interested persons wishing to express their views on such Project and the proposed issuance of revenue bonds to finance and refinance the costs of such Project will be given the opportunity to do so at the public hearing or may, prior to the time of the public hearing, submit their views in writing to:

Massachusetts Development Finance Agency
99 High Street, 11th Floor
Boston, MA 02110