The Melrose YMCA has been given a $5 million tax-exempt bond from MassDevelopment that will allow it to purchase and renovate a previously leased childcare facility in Stoneham.
The organization will also use the money to renovate childcare space in Melrose, according to a statement. Northern Bank & Trust Co. purchased the bond.
"This low-cost financing will help fill a much-needed role in the Melrose community: reaching those who need reliable child care," said MassDevelopment President and CEO Robert L. Culver. "This renovation will allow the Y to open its programs to more people."





