CIL is proud to have recently closed on a new $20,000,000 tax-exempt bond with Rockland Trust, supporting the development of 15 community-based residences across Massachusetts for individuals with disabilities.

This transaction marks an important strategic milestone for CIL, not only in the expansion of our housing portfolio but also in the evolution of our financing approach. The bond utilizes a Debt Service Reserve Fund (DSRF) structure, aligning us with industry-standard practices and reinforcing the long-term security of the financing.

This bond represents the start of a strong new partnership with Rockland Trust.  The inclusion of a Debt Service Reserve Fund represents a thoughtful shift in how we approach bond structuring, and we’re grateful to Rockland Trust for their collaboration and commitment to our mission.

The proceeds from the bond fund cover all aspects of the 15 projects, including design, permitting, and construction. Agencies will lease the homes with predictable, fixed monthly payments, removing the barrier of upfront capital and eliminating the complexities of securing their own financing. Once the bond is repaid, ownership of the homes will be donated to the agencies, ensuring a lasting asset and long-term sustainability.

This is the latest in a series of financings that have allowed CIL to scale its impact. With over $165 million in bonds supporting hundreds of homes, this model continues to provide a proven, replicable solution to expand housing opportunities for people with disabilities.