$3M Expands Human Services in Western Mass
Center for Human Development, Inc. Uses Tax-Exempt Bond from MassDevelopment & PeoplesBank to Buy Four New Group Homes & Commercial Building for Behavioral Health Outpatient Services
February 21, 2023
Matthew Mogavero, 857-248-0868
mmogavero@massdevelopment.com
Amale Barbara Neary, CHD
413-439-2250
 |
BOSTON – MassDevelopment has issued a $3 million tax-exempt bond on behalf of the Center for Human Development, Inc. (CHD), a nonprofit that will use proceeds to buy four residential group homes in Chicopee and Springfield that will house 24 individuals with developmental disabilities and behavioral health care needs. The organization will also use proceeds to buy and renovate a commercial building at 55-69 Union St. in Easthampton to be used for behavioral health outpatient services, including urgent care. The projects will help CHD meet increased demand and better serve the needs of clients. The organization expects to create 250 full-time jobs and 100 part-time jobs in the next three years. PeoplesBank purchased the bond, which helped CHD achieve a lower cost of capital.
“For decades, the Center for Human Development, Inc. has provided care and services to countless individuals and families in western Massachusetts and beyond,” said MassDevelopment President and CEO Dan Rivera. “MassDevelopment is proud of our longstanding relationship with CHD, and pleased that this tax-exempt financing will help the nonprofit move forward with the purchase of four new group homes and an outpatient center, and the creation of hundreds of human services jobs.”
“PeoplesBank is proud to support the work of CHD, as they provide invaluable assistance to so many members of our communities,” said PeoplesBank Senior Vice President of Corporate Responsibility Matthew Bannister. “In addition to providing financial grants for several specific CHD initiatives, and having our associates volunteer their time on behalf of the organization, our involvement in the financing of this project is another tangible demonstration of our support for CHD.”
Created in 1972, CHD has helped people build strong productive lives through community-based social services and behavioral health programs reaching more than 25,000 people each year. CHD is the largest social service organization in western Massachusetts, providing over 80 programs and services including shelter housing for 300 homeless families, foster care, residential care to adults with developmental disabilities, adult day health services for seniors and individuals living with disabilities, outpatient clinics for behavioral healthcare, substance abuse recovery programs, community based flexible support programs, juvenile justice programs, and residential care for children.
MassDevelopment has previously supported the Center for Human Development. In 2019, the agency issued a $4 million tax-exempt bond to help CHD construct a building in South Hadley to house the organization’s Recovery Service Program, buy and renovate a group home in East Longmeadow, renovate an administrative office building in Springfield, and buy three new group homes. In 2017, the agency issued a $3.1 million tax-exempt bond to help CHD renovate and furnish a 24,579-square-foot building on Main Street in Greenfield to provide outpatient behavioral health and wellness services, and house the Community Health Center of Franklin County’s primary medical and dental clinics. In 2008, the agency issued a $3 million tax-exempt bond to help CHD buy two buildings at 622 State St. and 342 Birnie Ave. in Springfield.
“This financing empowers our work and enables us to develop services to fulfill our mission and meet community needs,” said Center for Human Development, Inc. President and CEO Jim Goodwin. “Delivering essential care in the communities where people live is a core aspect of our 50-year existence as a not-for-profit provider, and we thank PeoplesBank and MassDevelopment for their outstanding support.”
MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2022, MassDevelopment financed or managed 356 projects generating investment of more than $1.69 billion in the Massachusetts economy. These projects are estimated to create or support 11,080 jobs and build or preserve 1,778 housing units.
