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Last updated: 06/29/2017 - 10:17am

Massachusetts Development Finance Agency Hearing

Massachusetts Development Finance Agency is having a Hearing on July 17 at 10:00 a.m.

Discussion Topics

  1. Issue for the Benefit of North Suffolk Group Homes, Inc.

    Notice is hereby given that a public hearing will be conducted by the Massachusetts Development Finance Agency (“MassDevelopment”) at 10:00 a.m. July 17, 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 $2,400,000 (the “Bonds”).  If the Issuer’s offices are closed on July 17, 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 $2,600,000.  The Bonds will be issued to provide for the financing and/or refinancing of, and the reimbursement of funds advanced by North Suffolk Group Homes, Inc. (the “Institution,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) with respect to certain facilities, namely, community residences for people with developmental disabilities (the “Community Residences”), located in The Commonwealth of Massachusetts (the “Commonwealth”) and 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 (i) 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 Community Residences located at 269 Washington Avenue, Chelsea and 152 Pleasant Street, Winthrop; and (ii) the demolition of a Community Residence known as LaCamara House, located at 225 Pleasant Street, Winthrop, Massachusetts (the “Site”) and the construction on the Site of an approximately 4,400 square foot new Community Residence (collectively, the “Project”).

    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.