May Institute to buy building

December 26, 2010

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Aided by a $16 million tax-exempt bond issued by MassDevelopment, the May Institute plans to buy 14 Pacella Park Drive in Randolph, which it currently uses for a day rehabilitation program and administrative offices. The nonprofit provides a variety of health services to people with autism spectrum disorders, brain injury, mental illness, and other behavioral health needs. “This financing will enable us to further strengthen our infrastructure as we continue to expand operations to meet the needs of the communities we serve,” said Michael Milczarek, chief financial officer of the May Institute. “We are very grateful for the support of MassDevelopment and excited about the opportunities available to us as a result of this endeavor.” MassDevelopment, the state’s financing and development authority, works with businesses, financial institutions, and communities to stimulate economic growth statewide. “This low-cost financing will help May Institute purchase a facility that houses various operations, including its newest program for young adults with disabilities,” said Robert L. Culver, MassDevelopment president and CEO. — Wendy Chow