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MassDevelopment awards Baypath tax-exempt bond to ‘bridge’ donations

A photo shared by Baypath Humane Society shows the progress on its new Fruit Street facility.

A new bond issued through MassDevelopment will help Baypath Humane Society keep on track as construction on its new Fruit Street facility continues.

In a recent press release, MassDevelopment — the commonwealth’s development finance agency and land bank — announced that it had issued a $2,520,000 tax-exempt bond on behalf of Baypath. The bond was purchased by UniBank and “helped the borrower [Baypath] achieve a lower cost of capital.”

Baypath’s executive director, Elizabeth Jefferis, explained that while the shelter has raised $5.5 million of the $6.5 million needed to build the new facility, the bond acts as a bridge as that money continues to come in.

“Some of [our funding] is still receivables in the form of pledges that are coming,” said Jefferis. She further explained that the shelter’s capital campaign received funds from multi-year pledges, hence the delay in accessing that money.

“Most of it is coming due in the next year or two,” Jefferis said. She added that, even with the funding, the shelter still needs to raise an additional $1 million.

Meanwhile, work continues at the Fruit Street site. Since the groundbreaking ceremony last August, construction crews have put up the walls, roof and foundation. Crews have dug trenches and laid pipes for plumbing and electric as well.

“We’re still moving along in spite of the weather,” said Jefferis.

Work is anticipated to be completed this fall. The facility will have 8,200 square feet of indoor space and include a community room, an advanced medical area to handle diagnostics and spay-and-neuter activities, and updated housing facilities.

The new shelter will help Baypath keep up with growing demand in Hopkinton and across the region. Jefferis shared that in the last three months of 2025, Baypath took in 141 local dogs and cats and an additional 126 from out of state. She noted that this was a 150% jump from the same span of time in 2024.

“The need is just growing and growing and growing,” said Jefferis. “We need this space so we can keep helping more.”

— NICK SCHOFIELD

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Due to the lingering effects of the weekend snowstorm, the town announced that schools and town offices will open late Tuesday morning.

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This week’s Real Estate Transactions list shows three sales, including a multimillion-dollar sale of property on Elm Street.

Town meetings tonight include the Conservation Commission (7).

Photo of the Day

Snow covers a mostly deserted Main Street late Monday morning. PHOTO/JERRY SPAR