MassDevelopment has issued a $1.5 million tax-exempt bond on behalf of Harbor Health Services, Inc., a nonprofit public health agency with locations in Brockton, Dennis, Dorchester, Mattapan, Hyannis and Plymouth. The organization used bond proceeds to make interior renovations and buy critical equipment for its Ellen Jones Community Dental Center, now located at the Patriot Square Shopping Center at 516 Route 134 in Dennis.
The practice relocated from its former space at the Cod Regional Technical High School in Harwich in June, when the school moved to a new building. The new dental center features eight exam rooms, new furniture, fixtures, and equipment, and is now open for in-person dental care in compliance with the Commonwealth’s mandatory safety standards and protocols. Prospect, Inc., a subsidiary of East Boston Savings Bank, purchased the bond, which MassDevelopment enhanced with a guarantee.
“Ellen Jones Community Dental Center provides access to critical oral health care on Cape Cod,” said MassDevelopment President and CEO Lauren Liss. “MassDevelopment was proud to once again provide parent organization Harbor Health Services, Inc. with a financing package that furthers its mission of improving the health and wellness of residents throughout eastern Massachusetts.”
In 2016, MassDevelopment provided Harbor Health Services, Inc. with a $6,870,540 tax-exempt bond and $6.1 million New Markets Tax Credit allocation, which the organization used to redevelop a former temple in Brockton into office and program space for the organization’s second Program of All-Inclusive Care for the Elderly (PACE) location.
“Ellen Jones is one of the few dental practices that accepts MassHealth for adults on lower Cape Cod,” said Harbor Health Services, Inc. President and CEO Chuck Jones. “The dental center sees over 3,300 patients each year and 88% are low income or uninsured. The support from MassDevelopment will help us sustain access to local affordable dental care.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2020, MassDevelopment financed or managed 341 projects generating investment of more than $2.69 billion in the Massachusetts economy. These projects are estimated to create or support 10,871 jobs and build or preserve 1,787 housing units.