“MassDevelopment has issued a $6.9 million tax-exempt bond on behalf of LEO Inc., a nonprofit community action agency, which will use proceeds to renovate its existing headquarters at 156 Broad St. and 2-4 Farrar St. in Lynn to expand access to early education and care for low-income children in the Greater Lynn region. The organization’s three-story building will be converted into a preschool housing 15 classrooms and will be designed to serve 270 students, an increase of 38 students over current enrollment. The preschool will include a commercial kitchen and nutrition center, gross motor room, and multipurpose room for parent education and community meetings.”
“ ‘Expanding affordable early education and child care helps kids and families thrive, creates jobs, and benefits local employers,’ said MassDevelopment President and CEO Dan Rivera. ‘We’re thrilled that LEO Inc. will be able to renovate its building in Lynn to create a dynamic environment of learning and care for students.’ ”
— “$6.9M Expands Child Care in Greater Lynn: Tax-Exempt Bond from MassDevelopment & Eastern Bank Helps Nonprofit LEO Inc. Renovate & Convert Building into Preschool to Serve Greater Lynn Region,” MassDevelopment, February 14, 2024
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