Holyoke Medical Center
MassDevelopment provided a $10 million New Markets Tax Credit allocation and $15 million tax-exempt bond as part of a financing package for Holyoke Medical Center (HMC). The acute-care community hospital broke ground on a two-story addition that will house a state-of-the-art emergency department along with a weight and health-management clinic, endocrinology center, and specialty outpatient services - expecting to boost annual outpatient visits by 12,500. HMC is committed to providing convenient and compassionate lifesaving care.
People's United Muni Finance Corp. purchased the bond and Chase Community Equity LLC was the New Markets Tax Credit investor.