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Tax-Exempt Bonds Help High Point Treatment Center Expand Operations
MassDevelopment has issued $25 million in tax-exempt bonds on behalf of High Point Treatment Center, Inc., a mental health and substance use disorder service provider, to improve its centers in Barnstable, Brockton and Plymouth, expand services and reach more clients. The tax-exempt bonds, purchased by Rockland Trust, helped High Point achieve a lower cost of capital and leverage a New Markets Tax Credit allocation from Massachusetts Housing Investment Corporation.
“Organizations like High Point Treatment Center play a critical role in expanding access to mental health and substance use care across Massachusetts,” said Economic Development Secretary Eric Paley, who chairs MassDevelopment’s board of directors. “This investment will expand access to care and ensure more residents across southeastern Massachusetts can get the support they need.”
High Point will use bond proceeds to acquire and renovate buildings in Barnstable and Brockton and to expand its existing facility at 1233 State Rd. in Plymouth.
- ◦Financing
