Massachusetts Development Finance Agency hearing

Notice is hereby given that a public hearing will be conducted by the Massachusetts Development Finance Agency (the “Issuer”) at 10:00 a.m. November 6, 2018, at its offices located at 99 High Street, 11th Floor, Boston, Massachusetts, 02110, with respect to the proposed issuance by the Issuer, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of bonds in the maximum aggregate principal amount of $32,000,000 (the “Bonds”), $25,000,000 for the New Money Purpose and $7,000,000 for the Current Refunding Purpose (both as defined below). If the Issuer’s offices are closed on November 6, 2018 due to unforeseen circumstances, including without limitation adverse weather conditions, the public hearing will be held on the next business day on which the Issuer’s offices are open at the same time and location. The total estimated project costs are $32,000,000. 

The Bonds will be issued to provide for the financing and/or refinancing of, and the reimbursement of funds advanced by CIL Realty of Massachusetts Incorporated (the “Institution,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof) with respect to certain facilities owned or to be owned and operated by the Institution (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest and issuance costs):

(a) generally consisting of the financing of, and the refinancing of conventional debt which financed, the acquisition, construction, renovation, furnishing and equipping (or any combination of acquisition, construction, renovation, furnishing or equipping) of facilities used or to be used as community residences for people with developmental disabilities (each, a “Residence”), the address of each Residence being listed on Exhibit A, and each Residence being located in The Commonwealth of Massachusetts (the “Commonwealth”) (collectively, the “New Money Purpose”) (with the Residences being owned or to be owned by the Institution and leased to various providers of care for people with developmental disabilities, including the Commonwealth, and each Residence to be operated and managed by the party leasing such Residence).

(b) the current refunding of all or a portion of the outstanding principal amount of the Massachusetts Health and Educational Facilities Authority Variable Rate Demand Revenue Bonds, CIL Realty of Massachusetts Issue, Series 2007 dated as of January 11, 2007 (the “Series 2007 Bonds”) (the “Current Refunding Purpose”) issued as a tax-exempt obligation in the original principal amount of $20,440,000, the proceeds of which Series 2007 Bonds were loaned to the Institution by the Massachusetts Health and Educational Facilities Authority (the “Authority”) for the purpose of financing or refinancing of, or the reimbursement of funds advanced by the Institution for the following projects:

(i)         the project originally financed with the proceeds of the Authority’s 7,010,000 Revenue Bonds (CIL Realty of Massachusetts Issue, 1999 Series) dated as of April 14 1999 including the financing and refinancing of 111 Nina Drive (Lot 6A), Hanson, Massachusetts; Lot 1 Hayward Place, Bridgewater, Massachusetts; 36 Thomas Road, Berkley, Massachusetts; 13 Lesley Lane, Freetown, Massachusetts; 91 Blossom Road, Westport, Massachusetts; 26 James Road, Sterling, Massachusetts; 287 Redemption Rock Trail, Sterling, Massachusetts; 463 West Townsend Road, Lunenberg, Massachusetts; 218 Allen Street, East Longmeadow, Massachusetts; 66 Oak Knoll Drive, Hampden, Massachusetts; 29 East Street, Hadley, Massachusetts; 39 Hillside Meadow Drive, Southampton, Massachusetts; 296 Loudville Road, Easthampton, Massachusetts; 405 Jones Cemetery Road, Orange, Massachusetts; 212 River Drive, Hadley, Massachusetts; 22 Eastern Avenue, Deerfield, Massachusetts; 41 Brick Yard Road, Athol, Massachusetts; 49 Pomeroy Street, Easthampton, Massachusetts; 39 Woodsong Road, Westfield, Massachusetts; 230 Birnie Avenue, West Springfield, Massachusetts; and 1205 Suffield Street, Agawam, Massachusetts;

(ii) the projects originally financed by the Borrower's prior loans under the Authority's Pool M Program and the Massachusetts Housing Finance Agency's loan program including the financing and refinancing of 4 Jacob Lane (Lot 2), Whitman, Massachusetts; 169 Olive Street, Ashland, Massachusetts; 551 (Lots 14 and 15) Delano Road, Marion, Massachusetts; and 366 (Lot 1) New Bedford Road, Rochester, Massachusetts; 39 Trafalgar Street, Brockton, Massachusetts; 134 Auburn Street, Brockton, Massachusetts; 72 Dondi Road, Brockton, Massachusetts; 123 Crooked Lane, Lakeville, Massachusetts; 397 Pleasant Street, Bridgewater, Massachusetts; 36 Jabish Street, Belchertown, Massachusetts; 16 Margeaux Drive, Lakeville, Massachusetts; 105 Windsor Road, Weymouth, Massachusetts; 20 Tanner Lane, Fairhaven, Massachusetts; 232 Old Westport Road, Dartmouth, Massachusetts; 91 Old Plain Street, Marshfield, Massachusetts; 183 John B. Scott Boulevard, Norton, Massachusetts; 221 Perryville Road, Rehoboth, Massachusetts; 173 Plympton Street; Middleboro, Massachusetts; 631 Broadway, Middleboro, Massachusetts; 631 Broadway, Hanover, Massachusetts; 183 Mouse Mill Road, Westport, Massachusetts; 355 Webster Street, Hanover, Massachusetts; 71 Plymouth Street, Carver, Massachusetts; 150 Front Street, Weymouth, Massachusetts; 61 Biscayne Avenue, Weymouth, Massachusetts; 146 Mutton Lane, Weymouth, Massachusetts; 507 Ocean Street, Marshfield, Massachusetts; 613 Pleasant Street, Hanson, Massachusetts; and (3) the financing and refinancing of 422 Malden Street, Holden, Massachusetts; 216 Carlisle Road, Bedford, Massachusetts; Lot 2 May Street, Brockton, Massachusetts; Lot 45 McCray Circle, Monson, Massachusetts; Lot 4 Farm Street, Millis, Massachusetts; 560 Plymouth Avenue, Marshfield, Massachusetts; 4 Phyllis Street, Foxboro, Massachusetts; and Lot 9 Allen Street, Dartmouth, Massachusetts;

(iii) paying the costs of issuing the bonds and cost of carrying out the prior project, including repayment of external loans and internal advances for the same and including interest on the bonds for up to two years after the date of issuance of the bonds.

The Bonds will not constitute a general obligation of, or a pledge of the faith and credit of the Issuer or a general obligation of, or a debt or pledge of the faith and credit of the Commonwealth.

Interested persons wishing to express their views on such Project and the proposed issuance of revenue bonds to finance and refinance the costs of such Project will be given the opportunity to do so at the public hearing or may, prior to the time of the public hearing, submit their views in writing to Massachusetts Development Finance Agency, 99 High Street, 11th Floor, Boston, Massachusetts 02110.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY

Exhibit A

New Money Purpose Facility Locations