Back to top
Last updated: 06/25/2019 - 3:58pm

Massachusetts Development Finance Agency hearing

The Massachusetts Development Finance Agency is holding a hearing on July 9 at 2 p.m.

Discussion Topics

  1. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY: 2 p.m. July 9, 2019, at 99 High Street, 11th Floor, Boston, Massachusetts 

    Notice is hereby given that a public hearing will be conducted by the Massachusetts Development Finance Agency (the “Issuer”) at 2:00 p.m. on July 9, 2019, at its offices located at 99 High Street, 11th Floor, Boston, Massachusetts, 02110, with respect to the proposed issuance by the Issuer, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of bonds in the maximum aggregate principal amount of $28,450,000 (the “Bonds”). If the Issuer’s offices are closed on July 9, 2019 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 $28,450,000.  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, issuance costs and associated working capital expenditures), generally consisting of the financing of, and 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”), the address of each Residence being listed on Exhibit A, and each Residence being located in The Commonwealth of Massachusetts (the “Commonwealth”) (collectively, the “Project”) (with the Residences being owned or to be owned by the Institution and leased to various providers of care for people with developmental disabilities, including the Commonwealth, and each Residence to be operated and managed by the party leasing such Residence).

    The Bonds, which will constitute qualified 501(c)(3) bonds for charitable purposes, 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, Mass.

    MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
    Exhibit A: The Project Facility Locations
     

    STREET ADDRESS

    CITY OR TOWN

    ESTIMATED TOTAL AMOUNT[1]

    8 Saddle Hill Drive

    Northborough

    $838,669.32

    72 Karen Road

    Framingham

    $509,337.60

    Lot 1 Burlingame Road

    Charlton

    $1,034,286.64

    236 Sheridan Street

    Easton

    $766,733.81

    153 High Street

    Greenfield

    $457,298.33

    56 Beechnut Road

    Dracut

    $855,607.01

    35 Forest Glen

    West Springfield

    $792,615.77

    31 Fisherdick Road

    Ware

    $634,769.14

    655 Converse Street

    Longmeadow

    $865,491.85

    37 Shelton Street

    Dracut

    $1,362,984.75

    48 Brook Street (fka Lot #4 of 56 Brook Street)

    Shrewsbury

    $1,279,714.61

    18 Fruit Street

    Hopkinton

    $1,240,359.29

    Lot 17-1 J. Davis Road (aka Lots A & B J. David Road)

    Charlton

    $1,148,178.00

    24 Granuaile Road (formerly part of 26 Granuaile Road)

    Southborough

    $1,286,423.00

    420 North Street

    Agawam

    $711,914.62

    71 Summer Street (aka Lots 1 & 2 Summer Street)

    Maynard

    $1,575,000.00

    12 Homestead Avenue

    Rehoboth

    $1,078,864.00

    80 Vaughan Street

    Lakeville

    $1,074,812.00

    157 Great Hill Road

    Sandwich

    $1,164,841.00

    52 Birnie Avenue

    West Springfield

    $1,050,000.00

    23 Steiger Road

    Holyoke

    $950,000.00

    257 Main Street

    Shrewsbury

    $1,233,256.00

    89 Carriage Road

    Chicopee

    $945,000.00

    1230 Plumtree Road Parcel 16

    Springfield

    $1,100,001.00

    1230 Plumtree Road Parcel 15

    Springfield

    $1,100,001.00

    1230 Plumtree Road Parcel 13

    Springfield

    $1,100,001.00

    80 Snow Road

    Grafton

    $1,186,000.00

    33 Pequot Road

    Southampton

    $1,100,000.00


    [1] The column refers to the maximum principal amount of Bonds allocable to each specified facility.