MassDevelopment, PeoplesBank Complete Financing Package for New Girls Inc. Facility
HOLYOKE — The new Girls Inc. of the Valley headquarters and program center is one big step closer to reality thanks to a new financing package developed by MassDevelopment and PeoplesBank.
Girls Inc. recently announced the closing of financing on a $2,275,000 MassDevelopment revenue bond for the new program center in Holyoke. PeoplesBank was the purchaser of the bond, continuing the bank’s longtime support of Girls Inc. of the Valley. MassDevelopment enhanced the bond with a $455,000 mortgage insurance guarantee.
The newly renovated, 16,000-square foot facility will allow the organization to consolidate its programs at one location. It will include a cutting-edge STEM makers’ space, a library, two multi-purpose rooms, a teen lounge, a kitchen and dining area, and administrative offices.
“We are thrilled to be able to continue our support of Girls Inc. of the Valley and be a part of this exciting project,” said Vicky Crouse, senior vice president, Commercial Banking at PeoplesBank. “Their mission to inspire all girls to be strong, smart, and bold by providing them the opportunity to develop and achieve their full potential is one that we embrace as well.”
Dan Rivera, president and CEO of MassDevelopment, noted that “Girls Inc. has a proven track record of supporting girls in all their academic and social endeavors, while also empowering them to unlock the best version of themselves. We are pleased to partner with PeoplesBank to help this nonprofit purchase a new building in Holyoke to call home.”
Added Suzanne Parker, executive director of Girls Inc. of the Valley, “what a powerful statement this makes to the youth we serve, that so many of our leaders on this project, from engineering and design to financing and legal, to construction and capital campaign, are strong, smart, and bold women.”