The Massachusetts Development Finance Agency issued a $4.1 million tax-exempt bond on behalf of Cerebral Palsy of Massachusetts Inc.
According to MassDevelopment, the nonprofit that supports people with cerebral palsy is using bond proceeds to buy a five-acre parcel of land in Stoughton, buy a 55,000-square-foot, three-story commercial building for office space, and acquire new equipment and furnishings.
Renovations will include new interior walls, wiring upgrades, and a back-up generator and power source. The project is expected to create 10 office jobs and 11 construction jobs. Eastern Bank purchased the bond.
MassDevelopment, the state's finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the commonwealth.
During fiscal 2013, it said it financed or managed 350 projects generating investment of more than $2.4 billion in the Massachusetts economy.
