New North Citizens’ Council (NNCC) Inc. has been issued a MassDevelopment $933,750 tax-exempt bond to purchase a 13,100-square-foot building, which NNCC currently leases, to operate as a daycare center.

"NNCC’s range of programs covers nearly every aspect of life in Greater Springfield," said MassDevelopment President and CEO Marty Jones. "This type of low-cost financing has supported many human service providers around the commonwealth, and we’re pleased NNCC can use these funds to purchase its currently leased facility and reach more children in the community."

Hampden Bank purchased the bond, and MassDevelopment also provided a mortgage insurance policy for the bank, according to a statement.

"We would like to thank Mass Development and Hampden Bank for this opportunity," said NNCC Executive Director Michael Denney. "As a minority-owned, not-for-profit agency, every dollar counts. With this purchase, we will save thousands of dollars in occupancy costs that will afford more opportunities for our community."