$18 Million MassDevelopment Bond Funds Building Addition, New Critical Care Unit at Angell Animal Medical Center in Boston
February 24, 2020
FOR IMMEDIATE RELEASE
Jessica Beliveau, MassDevelopment, 617-330-2086 & 857-283-2846 (cell)
Todd McCann, MSPCA-Angell, 617-541-5050
|Rendering of Angell Animal Medical Center’s new Critical Care Unit|
MassDevelopment has issued an $18,417,298.61 tax-exempt bond on behalf of the Massachusetts Society for the Prevention of Cruelty to Animals (MSPCA), a nonprofit leader in animal protection and veterinary medicine and provider of direct, hands-on care to thousands of animals annually. The MSPCA will use bond proceeds to build and equip a two-story, 9,000-square-foot addition at its Angell Animal Medical Center in Boston. The organization will then relocate its ward operations from its existing facility to the addition, creating space for a new state-of-the-art Critical Care Unit. TD Bank purchased the bond, which will also be used to refinance previously issued debt.
“For more than 150 years, the Massachusetts Society for the Prevention of Cruelty to Animals has played the role of veterinarian, rescuer, and advocate for animals in need of assistance,” said MassDevelopment President and CEO Lauren Liss. “We are grateful for the MSPCA’s contributions as one of our state’s highly regarded nonprofits, and pleased to provide tax-exempt financing that will help the organization expand its facility in Boston and improve services with a revamped Critical Care Unit.”
MassDevelopment and TD Bank have previously partnered to support the Angell Animal Medical Center in Boston. In 2016, MassDevelopment issued a $7 million tax-exempt bond, purchased by TD Bank, to help MSPCA renovate this facility by installing a new HVAC system and windows and updating mechanical and electrical systems.
“We are very grateful for MassDevelopment and TD Bank’s support as we look ahead to renovating our Critical Care Unit to meet the growing demand for world-class, 24/7 veterinary care,” said MSPCA-Angell Chief Financial Officer Todd McCann. “Renovating our Critical Care Unit will enable us to continue providing animal patients with the highest level of service, now and in the future.”
Founded in 1868 by George Thorndike Angell, MSPCA has a mission to protect animals, relieve animal suffering, advance animal health and welfare, prevent animal cruelty, and work for a just and compassionate society. MSPCA rescues, shelters, protects, heals, and advocates for more animals than any other American humane organization. MSPCA also provides emergency assistance and strategic-planning support for animal-protection organizations across the United States and around the world, and conducts legislative work, humane-education efforts, and community-based assistance initiatives. An independent nonprofit organization, MSPCA is comprised of animal care and adoption centers, an advocacy department, a law enforcement department, and the nonprofit veterinary hospital Angell Animal Medical Center.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth. During FY2019, MassDevelopment financed or managed 316 projects generating investment of more than $2 billion in the Massachusetts economy. These projects are estimated to create or support 9,743 jobs and build or preserve 1,992 housing units.