Lawrence, MA – MassDevelopment has issued a $3.5 million tax-exempt bond on behalf of C.L.A.S.S. Inc. (CLASS), a nonprofit organization serving individuals with intellectual and developmental disabilities in the Merrimack Valley and North Shore.
CLASS is using bond proceeds to renovate its Lawrence facility, located in a 130-year-old mill building at 1 Parker Street, by improving accessible ramps; HVAC and information technology systems; furnishings; and equipment. Bond proceeds will also fund repairs to the roof and exterior entrance and to the refinancing of past debt. TD Bank purchased the bond.
“CLASS provides North Shore and Merrimack Valley residents with disabilities with the skills required to pursue personal growth and independence,” said MassDevelopment President and CEO Marty Jones. “We are proud to support this organization’s efforts to improve its facility in Lawrence, a Gateway City, and its work to expand opportunities for individuals with disabilities and their families.”
CLASS was established in 1976 and is headquartered in Lawrence. It has grown from an enrollment of 14 sons and daughters to serving more than 400 individuals in northeastern Massachusetts today. In that number, CLASS counts 85 families in its adult family care program, which supports caregivers and loved ones in the home. Additional services include employment, day habilitation and community-based day services programs, clinical and case management support, and transportation. A proud chapter of the Arc of Massachusetts, CLASS operates the Arc of Greater Lawrence to support younger families. MassDevelopment issued a previous bond on behalf of CLASS in 2010.