People Inc., a nonprofit human services agency for greater Fall River, will use $3.59 million in MassDevelopment bond proceeds to help buy, renovate and equip the former Citizen-Union Savings Bank building at 4 Main St. in Fall River.

The group plans to use the property as its new headquarters and administrative offices, and to house program facilities, according to a statement.

People Inc. will also use bond proceeds to help buy a parcel on River Pines Drive in Taunton and build two new group homes in Raynham and Taunton. The nonprofit said it expects to create 30 jobs in Fall River as a result of the project. BayCoast Savings Bank purchased the bond.

"This project will support People Incorporated as it helps more individuals with disabilities find jobs, housing, and support services," said MassDevelopment President and CEO Marty Jones. "Tax-exempt bonds offer a low-cost financing option for human services agencies like People Incorporated, and MassDevelopment is pleased to assist the organization’s work in southeastern Massachusetts."

Founded in 1968, People Inc. provides vocational, residential, recreation, early intervention and advocacy services to adults and children with developmental disabilities.

"Our ability to put this project together with BayCoast Bank and MassDevelopment was instrumental in helping us be able to remain a Fall River-based organization," People Inc. President and CEO Robert Canuel said in a statement. "It was critical to us to be able to create a base from which we can continue our dramatic growth. We will now be able to provide more jobs and services for our community and improve our capacity to assist in the economic revitalization of our downtown area."