The Center for Family Support
The Center for Family Support, Inc. ("CFS") is a not-for-profit human service agency that provides individualized support services and programs for individuals living with developmental disabilities and the families that care for them. CFS is headquartered in New York City at 333 7th Ave. 9th Floor, New York, NY 10001. CFS' footprint includes New York City's five boroughs, Westchester County and Long Island. Services include after school programs, residential facilities, day habilitation, enhanced support employment, family support case management, community habilitation, home care, parent training and respite. At the core of CFS' mission is the concept of personal choice where each consumer has a program tailored to accommodate the individual's needs, preferences and goals.
Tax-exempt bonds were issued to refinance existing commercial mortgages held by a bank and to pay breakage fees associated with the prepayment of these loans and the cost of issuance. In addition to the refinancing portion of the bond issue, a new money piece of $675,000 to purchase and renovate a group home was included in the financing. The total par amount of bonds issued as a direct placement was $4.7 million, which included a small taxable tail.