CMARC, Inc. Refinances With MassDevelopment

December 18, 2008

MassDevelopment today announced a $2.9 million tax-exempt bond issue on behalf of the Central Middlesex Association of Retarded Citizens, Inc. (CMARC) of Woburn. The human services provider will use bond proceeds to refinance existing debt originally used to construct its headquarters facility. CMARC will save more than $50,000 in annual debt service payments through its new low-cost financing package.

Founded in 1968, CMARC, Inc. provides vocational training and placement services to individuals with developmental disabilities. The organization seeks to help its clients become independent, product members of their communities. In addition to its job training and placement services, CMARC also offers transportation programs to work placements and social centers as well as group homes with 24-hour support in Woburn, Wilmington, Lexington, Medford, Lynnfield, Andover and Tewksbury.