MassDevelopment.com: Press Room: $11 Million MassDevelopment Bond Supports Evergreen Center, Inc. Metro-West Expansion

$11 Million MassDevelopment Bond Supports Evergreen Center, Inc. Metro-West Expansion
March 15, 2005

Contacts:
Adam Bickelman, 617-330-2086 or abickelman@massdevelopment.com
Tracy Lawrence, 617-330-2011 or tlawrence@massdevelopment.com

MassDevelopment today announced an $11,380,000 financing package for Evergreen Center, Inc. of Milford. The community-based health and human services provider will use the tax-exempt bond to purchase two currently leased properties, construct an addition to the center's existing central educational facility, purchase land on which to construct new group homes and refinance existing debt. The expansion will result in the creation of 30 new permanent jobs and 23 temporary construction jobs.

"The MassDevelopment team is proud to support Evergreen Center, Inc. and its upcoming expansion initiative," said Robert L. Culver, MassDevelopment president/CEO. "Organizations like Evergreen provide an invaluable service to children facing developmental and social challenges."

Founded in 1982, Evergreen Center provides a range of essential programs for children and adults with significant developmental disabilities and emotional needs. Its mission is to enhance each individual's independence and social development through individualized educational programs.

"This is an exciting time for the students, faculty and staff at Evergreen Center," said Dr. Robert Littleton, Evergreen Center, founder and executive director. "Our partnership with MassDevelopment will enable us to serve additional students, while upgrading our facilities for those we currently serve, and preparing for future growth."

MassDevelopment, the state's finance and development authority, partners with businesses and local officials to stimulate growth across the Commonwealth. In fiscal year 2004, the agency arranged financing for or managed 201 projects statewide totaling more than $1.25 billion. These projects supported the creation of more than 5,500 jobs and 2,445 housing starts.