MassDevelopment Bond

MassDevelopment has issued a $2.3 million tax-exempt bond on behalf of Venture Community Services, Inc., a Sturbridge-based social services organization.  Venture is using bond proceeds to buy and renovate 670 Douglas Street in Uxbridge.  When finished, the property will be used as a day habilitation program for individuals with development disabilities as well as to provide clinical services to families living with autism in the Blackstone Valley Region.  The organization is also using bond proceeds to build a five-bedroom group residence for people with disabilities in Rutland.  Finally, the bond is financing furniture, fixtures, and equipment, along with refinancing previous debt.

 

“Providing resources for those with developmental disabilities is imperative for promoting a higher quality of life,” said MassDevelopment President and CEO Marty Jones.  “MassDevelopment is pleased to help Venture Community Services, a dedicated social services organization, serve individuals and families across the Commonwealth and reach that goal.”

 

“Venture is grateful for the long standing partnership with MassDevelopment.” said Mike Hyland, Venture President and CEO.  “We appreciate its support as we continue to grow and meet the needs of the communities we support throughout Massachusetts.”

 

Venture Community Services is committed to providing individuals with disabilities and other challenges, their families and caregivers access to the opportunities they deserve.   What began as an organization with two small group homes has grown into one of the largest human service providers in Massachusetts, and with almost 700 employees, one of the largest employers in the Worcester County area. Venture encourages independence through a continuum of support which includes community residential services, day programs, supported employment, transportation, autism supports, adult foster care, and shared living.

 

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2015, MassDevelopment financed or managed 294 projects generating investment of more than $2.5 billion in the Massachusetts economy. These projects are projected to create about 6,100 jobs and build or rehabilitate about 2,000 residential units.

 

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