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Last updated: 05/17/2017 - 10:01am

Massachusetts Development Finance Agency Hearing

Massachusetts Development Finance Agency is holding a Public Hearing on June 6 at 10:00 a.m.

Discussion Topics

  1. 10:00 A.M.

    Notice is hereby given that a public hearing will be conducted by the Massachusetts Development Finance Agency (“MassDevelopment”) at 10:00 a.m. June 6, 2017, at its offices located at 99 High Street, Boston, Massachusetts, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of bonds in the maximum aggregate principal amount of $20,000,000 (the “Bonds”). If the Issuer’s offices are closed on June 6, 2017 due to unforeseen circumstances, including without limitation adverse weather conditions, the public hearing will be held on the next business day on which the Issuer’s offices are open at the same time and location. The total estimated project costs are $20,000,000. 

    The Bonds will be issued to provide for the financing and/or refinancing of, and the reimbursement of funds advanced by CIL Realty of Massachusetts Incorporated (the “Institution,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) with respect to certain facilities owned or to be owned and operated by the Institution (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest and issuance costs), generally consisting of the financing of, and/or the refinancing of conventional debt which financed, the acquisition, construction, renovation, furnishing and equipping (or any combination of acquisition, construction, renovation, furnishing or equipping) of facilities used or to be used as community residences for people with developmental disabilities (each, a “Residence”), all of which are located in the following locations in The Commonwealth of Massachusetts (the “Commonwealth”):  65 Clydesdale Drive, Pittsfield; 372 Brook Street, Carlisle; 18 Chapin Street, Ludlow; 250 Glendale Road, Northampton; 19 School Street, Rehoboth; 3 Surrey Lane, Canton; 670 Morgan Road, West Springfield; Lot 2, Belcher Road, Foxboro; 21 Robin Hood Lane, Billerica; 11 Colarusso Drive, Middleboro; 9 Beaver Place, Billerica; 60 Park Avenue, South Hadley; 130 Marshall Street, Tewksbury; 4 York Road, Newton; 195 Sterling Street, West Boylston; 11 Exeter Way, Andover; 54 Bay Road, Hadley; 1670 North Main Street, Palmer; 36 Brooksbie Road, Bedford; Lot 11 Angelica Drive, Westfield; and 5 Meadowbrook Lane, Holliston (collectively, the “Project”).

    The Residences are or will be owned by the Institution and leased to various providers of care for people with developmental disabilities, including the Commonwealth.  Each Residence will be operated and managed by the party leasing such Residence.

    The Bonds will not constitute a general obligation of, or a pledge of the faith and credit of MassDevelopment 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, Boston, Massachusetts 02110.