Boston – MassDevelopment has issued a $3 million tax-exempt bond on behalf of the Center for Human Development, Inc. (CHD), a nonprofit that will use proceeds to buy four residential group homes in Chicopee and Springfield that will house 24 individuals with developmental disabilities and behavioral health care needs.
The organization will also use proceeds to buy and renovate a commercial building at 55-69 Union St. in Easthampton to be used for behavioral health outpatient services, including urgent care. The projects will help CHD meet increased demand and better serve the needs of clients. The organization expects to create 250 full-time jobs and 100 part-time jobs in the next three years. PeoplesBank purchased the bond, which helped CHD achieve a lower cost of capital.
Created in 1972, CHD has helped people build strong productive lives through community-based social services and behavioral health programs reaching more than 25,000 people each year. CHD is the largest social service organization in western Massachusetts, providing over 80 programs and services including shelter housing for 300 homeless families, foster care, residential care to adults with developmental disabilities, adult day health services for seniors and individuals living with disabilities, outpatient clinics for behavioral healthcare, substance abuse recovery programs, community based flexible support programs, juvenile justice programs, and residential care for children.
“This financing empowers our work and enables us to develop services to fulfill our mission and meet community needs,” said Center for Human Development, Inc. president and CEO, Jim Goodwin. “Delivering essential care in the communities where people live is a core aspect of our 50-year existence as a not-for-profit provider, and we thank PeoplesBank and MassDevelopment for their outstanding support.”