Comprehensive Mental Health Systems Expands with MassDevelopment Bond
May 8, 2017
FOR IMMEDIATE RELEASE
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
Tony Medeiros, CMHS Inc., 508-999-2906
MassDevelopment has issued a $2,060,000 tax-exempt bond on behalf of Comprehensive Mental Health Systems (CMHS) Inc., which provides therapeutic and rehabilitative services to disabled individuals in southeast Massachusetts. CMHS will use bond proceeds to buy a 2,000-square-foot building at 1080 Russells Mills Road in Dartmouth that it will use as a residential group home. The organization will also use proceeds to buy land at 14 Washington Street in Westport to build and equip a 2,000-square-foot residential group home, and to refinance past debt. MassDevelopment enhanced the bond with a guarantee, and BayCoast Bank purchased the bond.
“CMHS provides disabled individuals with high-quality care and support,” said MassDevelopment President and CEO Marty Jones. “With this bond, the organization can care for more people in southeastern Massachusetts, and expand its therapeutic and rehabilitative services.”
Comprehensive Mental Health Systems Inc. was founded in 1978 and provides quality therapeutics and rehabilitative services for individuals with disabilities. The organization is dedicated to people helping one another to construct lives that are full of dignity, purpose and meaning. The majority of its services are to residents of southeastern Massachusetts, and approximately 95 percent of its revenues come from Massachusetts state agencies. Comprehensive Mental Health Systems Inc. offers a wide range of services, including residential support services, wellness services, day treatment rehabilitation, forensic day habilitation, community and independent living services, support coordination, transitional assistance, and community recreational services.
"CMHS would like to thank everyone at MassDevelopment for their hard work and special attention. Our clients and employees will benefit greatly due to the addition of these two projects,” said CMHS CFO Tony Medeiros.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy. These projects are projected to create about 8,200 jobs and build or rehabilitate about 4,200 residential units.