With $12.6 Million MassDevelopment Bond, Animal Rescue League of Boston Expands Dedham Location
November 23, 2020
FOR IMMEDIATE RELEASE
Kelsey Schiller, MassDevelopment, 617-694-9695 (cell)
Mike DeFina, Animal Rescue League of Boston, 617-293-3530
MassDevelopment has issued a $12.6 million tax-exempt bond on behalf of the Animal Rescue League of Boston (ARL), a nonprofit with locations in Boston, Brewster, and Dedham that is committed to providing animals in need with safe and healthy habitats and homes. The organization will use bond proceeds to demolish a vacant residential structure near its Dedham location and build and equip a 22,500-square-foot administrative building and a 3,000-square-foot maintenance building in its place. Century Subsidiary Investments, Inc. III, a subsidiary of Century Bank, purchased the bond.
“The Animal Rescue League of Boston and its team of dedicated employees and volunteers steadfastly care for animals in need in Boston, MetroWest, and on Cape Cod,” said MassDevelopment President and CEO Lauren Liss. “MassDevelopment is proud to provide tax-exempt financing that will help the organization grow its facility in Dedham and continue performing its mission for the benefit of Massachusetts.”
“The main building will centralize operations, training, and mobile operations – streamlining everything we do and cementing the foundation for the Animal Rescue League of Boston to continue to help animals, the people that care for them, and communities for another 120 years, and beyond,” said Animal Rescue League of Boston President and CEO Dr. Edward Schettino.
For more than 120 years, the Animal Rescue League of Boston has responded to the needs of animals and the people who care about them. With more than 700 dedicated volunteers and 100 staff members, ARL lends unwavering support to local animals, families, and neighborhoods by providing outstanding veterinary care, adoption, and field services. The organization also confronts the root causes of animal cruelty and neglect through special police investigation and advocacy aimed at strengthening animal protection laws. Last year, ARL served more than 20,000 animals in need, and is increasingly focused on keeping animals out of shelters and in the communities where they belong.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2020, MassDevelopment financed or managed 341 projects generating investment of more than $2.69 billion in the Massachusetts economy. These projects are estimated to create or support 10,871 jobs and build or preserve 1,787 housing units.