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New Bedford Nonprofit Uses $3.5M MassDevelopment Bond To Renovate Facilities

Aug 14, 2013 | Reprints | Unlock Link | Print

This building is slated for expansion as a result of the MassDevelopment bond. A New Bedford nonprofit that aids adults with intellectual and physical disabilities will update its facilities with a $3.5 million tax-exempt bond issued by MassDevelopment.

LifeStream Inc. will use the bond proceeds to renovate administrative offices and a day habilitation facility in New Bedford. The money will also refinance previous debt. LifeStream expects to create 30 jobs and six construction jobs as a result of this project. Webster Massachusetts Securities Corporation purchased the bond.

LifeStream Inc. provides individualized programs; clinical services; medical, physical and cognitive assistance; transportation; and social activities to adults living with intellectual and medical disabilities.

Commercial & Industrial