Autism nonprofit to buy seven Central Mass. facilities with $17M bond
April 7, 2022 : Worcester Business Journal, by Sloane M. Perron
MassDevelopment, the state’s development agency, issued a $16.5-million tax-exempt bond to Attleboro autism services nonprofit Amego Inc., to buy 16 facilities, including seven in Central Massachusetts.
Currently, Amego leases 16 residential facilities in Boylston, Holliston, Marlborough, Millis, Franklin, Northborough, Framingham, Canton, Easton, Foxborough, Plainville, and Rehoboth. The funds provided by MassDevelopment would allow Amego to purchase and own these properties rather than lease them.
The facilities purchases will house 63 adults and allow Amego, Inc. to build long-term equity through property ownership, according to MassDevelopment’s Thursday announcement.
In 2021, MassDevelopment gave Amego Inc. a $30-million tax exempt bond to build and equip six new residential facilities in Franklin, which housed 47 students who attend the nearby Amego School.
“Human service providers play a critical role in our communities by ensuring individuals of all abilities can find safe and affordable housing, access health and wellness programs, and secure education and employment opportunities,” Mike Kennealy, secretary of Housing and Economic Development, who serves as chair of MassDevelopment’s board of directors, said in the press release. “Financing offered by MassDevelopment makes it easier for these organizations to grow both in size and heart.”