Residences for the Developmentally Disabled Receives Bond

| February 12, 2020

A CIL Realty of Massachusetts home developed for five residents with acquired brain injury in eastern Massachusetts

Boston – MassDevelopment has issued a $20 million tax-exempt bond on behalf of CIL Realty of Massachusetts, Inc. (CILRM), a nonprofit real estate developer.

CILRM will use bond proceeds to buy, construct, and/or renovate 28 community residences for developmentally disabled individuals in Agawam, Charlton, Chicopee, Dracut, Easton, Framingham, Grafton, Greenfield, Holyoke, Hopkinton, Lakeville, Longmeadow, Maynard, Northborough, Rehoboth, Sandwich, Shrewsbury, Southborough, Southampton, Springfield, Ware, and West Springfield. M&T Bank purchased the bond, which will also be used to refinance previously issued debt.

All 28 community residences will be leased to providers of care for people with developmental disabilities. Each facility will be managed and operated by the organization leasing the residence, and will house four to six Massachusetts residents. The project is expected to create 336 new human-service industry jobs and support 85 construction jobs.

CILRM develops Massachusetts properties that are then leased to the Commonwealth and to private nonprofit agencies that provide housing and other services to people with disabilities. CIL was founded in 1979 by a coalition of private, nonprofit, service providers to foster the development of small, non-institutional, community-based independent living opportunities for persons with disabilities or in need of a structured living environment.

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