MassDevelopment.com: Press Room: $3.5 Million MassDevelopment Bond Supports Human Service Provider Expansion in South Shore

$3.5 Million MassDevelopment Bond Supports Human Service Provider Expansion in South Shore
May 31, 2006

Contacts:
Alicia Tildsley, MassDevelopment, 617-603-3120
Stephanie Copp, High Point Treatment Center, 508-997-0475

MassDevelopment today announced the issuance of a $3.5 million tax-exempt bond for New Bedford-based High Point Treatment Center, Inc. (HPTC). The human services provider is using bond proceeds to purchase and renovate two buildings: a 3,500-square-foot outpatient services clinic and a 16,000-square-foot nursing home in New Bedford, and to renovate and refinance a 36,000-square-foot 98-bed treatment facility in Plymouth. High Point Treatment Center plans to transform the former nursing home into a regional homeless shelter and administrative offices.

"Human services providers like High Point play a critical role in the state economy," said Robert L. Culver, MassDevelopment president/CEO. "Not only do these organizations provide good jobs and local investment, they also help individuals and families overcome challenges that keep good employees out of work. I'm pleased that this financing package will allow the center to expand its operations and help more people."

Founded in 1996, High Point Treatment Center has been a leader in substance abuse and mental health education and treatment for more than a decade. At its treatment centers in New Bedford, Plymouth, Taunton and Brockton, HPTC offers inpatient and outpatient services for those with chemical dependencies, psychiatric disorders, or both. HPTC inpatient rehabilitation services include detoxification, 12-step recovery programs, counseling, medication management, and round-the-clock nursing care. Outpatient services include psychological testing, case management, individual and group therapy, HIV/AIDS support, medication evaluation and follow-up. Additionally, the organization offers residential services like transitional housing and "graduate housing" for men and women in recovery.

"At some point, nearly everyone will be affected either directly or indirectly by issues involving substance abuse or mental health," said Daniel S. Mumbauer, HPTC president/CEO. "We have a responsibility to help those who cannot help themselves due to addiction or psychiatric distress. The financing we received from MassDevelopment and Banknorth will allow us to expand available resources and services for those in need."

MassDevelopment, the state's finance and development authority, works with businesses, financial institutions and local officials to stimulate economic growth across the Commonwealth. In fiscal year 2005, MassDevelopment financed or managed 158 projects statewide representing an investment of nearly $1.9 billion in the Massachusetts economy. These projects are supporting the creation of 2,769 housing units and more than 9,800 jobs: 4,702 permanent and 5,100 construction-related.