MassDevelopment.com: Press Room: MassDevelopment, Clinton Savings Bank Provide $8.2 Million Financing Package to Support Lancaster Human Services Provider

MassDevelopment, Clinton Savings Bank Provide $8.2 Million Financing Package to Support Lancaster Human Services Provider
September 19, 2007

Contacts:
Alicia Tildsley, MassDevelopment, 617-603-3120
Doug Reid, Dr. Franklin Perkins School, 978-365-7376

MassDevelopment today announced an $8,200,000 low-cost financing package for the Doctor Franklin Perkins School (Perkins), a special needs educational center in Lancaster. The school will use proceeds from a tax-exempt bond to construct a child development and day care center for pre-school-aged children. The expansion will allow Perkins to serve 45 more children annually, and create 10 new jobs.

"Human services providers like the Dr. Franklin Perkins School are a critical resource for Massachusetts residents," said Robert L. Culver, MassDevelopment president/CEO. "MassDevelopment is pleased to support this organization with low-cost financing that will allow it to expand its programs and help more children and families."

The school, founded in 1896 in Newton, moved to Lancaster in 1924. Perkins provides residential treatment programs, focused on the clinical, social, and behavioral growth of children and adolescents with academic and mental health challenges. The school continues to expand its services. An Asberger’s treatment program was added in 2006. Perkins offers treatment for bipolar disorder, post traumatic stress disorder, attention deficit hyperactivity disorder and a range of other mental health issues. Each year, the organization serves nearly 200 students ranging in age from five to 18 years.

"Our goal continues to be the delivery of the most effective services possible for children and families," said Perkins School Executive Director Charles P. Conroy, Ed.D. "The financing we received from MassDevelopment and Clinton Savings Bank will allow us to expand available resources and services for those in need."

MassDevelopment, the state’s finance and development authority, works with businesses, nonprofit organizations, financial institutions and local officials to stimulate economic growth across the Commonwealth. Between FY2004 and FY2006, MassDevelopment financed or managed 589 projects statewide representing an investment of more than $4 billion in the Massachusetts economy. These projects are supporting the creation of 5,505 housing units and more than 23,000 jobs: 12,381 permanent and 10,679 construction-related.