Hyannis, MA – MassDevelopment issued $9 million in tax-exempt bonds on behalf of Harbor Health Services Inc. to help the nonprofit public health agency expand its community health center in Hyannis and serve additional patients. Rockland Trust purchased the tax-exempt bond, which helped Harbor Health achieve a lower cost of capital.
Harbor Community Health Center – Hyannis, located at 735 Attucks Lane, provides essential medical, dental, behavioral health, pharmacy, and social support services to more than 10,000 patients. Harbor Health previously purchased an adjacent commercial space and will use a portion of bond proceeds to renovate and equip the additional square footage. As a result of this project, the organization will increase the community health center’s existing footprint by about 35% to offer increased access to services and care for additional patients. Harbor Health expects to create up to 20 full-time jobs following completion of the expansion. Harbor Health will also use bond proceeds to refinance previously issued debt.
“For decades, Harbor Health has provided access to care through its community health centers across Boston, the South Shore, and Cape Cod,” said MassDevelopment president and CEO, Navjeet Bal. “MassDevelopment is pleased to partner with Rockland Trust to deliver tax-exempt bond financing that is helping the organization renovate and expand its Hyannis location, create jobs, and continue its legacy of dedicated patient care.”
“This financing is about more than just improvements to our Hyannis health center; it is a critical investment in the future of Cape Cod and those who live here,” said Susan Yee, president and CEO of Harbor Health. “We are grateful to our partners at MassDevelopment and Rockland Trust for helping our organization to expand and continue to provide access to healthcare services for everyone in our community.”
Harbor Health’s mission is to help individuals achieve their full potential through access to local, affordable services that promote health. Harbor Health provides health and social services to more than 30,000 patients in Boston, the South Shore, and Cape Cod. The organization operates five community health centers, two PACE day centers, and the Dorchester South/South Boston Women, Infants, and Children Nutrition Program.
