Milford human services agency lands $16.4M MassDevelopment bond
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Evergreen Center's headquarters in Milford
A Milford-based health and human services agency has secured a $16.4 million tax-exempt bond from MassDevelopment to purchase land for a new group home in Shrewsbury and a 9,600-square-foot athletic center.
The bond for Evergreen Center will also be used to finance old debt, according to MassDevelopment.
The organization, which provides individuals with disabilities in Central Massachusetts specialized education and a secure living environment, is planning to purchase a Shrewsbury building for use as a group home.
The organization is planning a 9,600-square-foot athletic facility at its Milford headquarters on Fortune Boulevard.
Mortgages the company holds for properties in Mendon, Uxbridge and Northbridge will also be refinanced with the bond.
In a statement, President Robert Littleton said financing the purchase of facilities can be challenging.
“The favorable rates and terms made available through tax-exempt financing such as this make a tremendous difference in the ability of Evergreen Center to achieve its mission,” Littleton said. “Our board of directors, families, staff, and students are grateful for the efforts of everyone involved and look forward to using these vital new resources to benefit citizens of the commonwealth for decades to come.”
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