Bay State Community Services Inc. (BSCS) is using a $2.5 million tax-exempt bond from MassDevelopment to purchase a Quincy office building.

The nonprofit human services agency currently leases the 20,100-square-foot, three-story property near the downtown area of Quincy as its main office. Owning its building will allow BSCS to save costs.

Blue Hills Bank purchased the bond, which was supported by a MassDevelopment guarantee.

BSCS was formed in 1991 through the merger of five community-based agencies that support individual, family, and community empowerment through social, mental health, addiction and correctional services. It is the South Shore’s largest provider of child and family services, according to a press release

“Agencies like Bay State Community Services Inc. are critical to the commonwealth, providing communities with much-needed social services and programs,” MassDevelopment President and CEO Marty Jones said in a statement. “MassDevelopment is happy to help the agency devote more resources to its essential work by enabling BSCS to buy its home.”

 

Quincy Nonprofit To Buy Office Building With $2.5M MassDevelopment Bond

by Banker & Tradesman time to read: 1 min
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