Cambridge Committee Hears Plea to Save Neville Communities With $2.5 Million

CAMBRIDGE -- May 23, 2024, Cambridge weighs emergency aid for Neville Communities as a $14 million loan comes due. The City Council's Health and Environment Committee heard Thursday from Andy Fuqua, Chair of the Neville Communities board, and consultant Paul Valentine of KCP Advisory, who reported that Neville Center's skilled nursing facility loses roughly $48,000 per month on a cash-flow basis while the Neville Place assisted living facility earns about $66,000 monthly. Neville is requesting approximately $2.5 million from the city to reduce its debt load and fund deferred capital repairs before a Rockland Trust loan matures at year's end. City CFO Claire Spinner warned that any free-cash appropriation must occur before June 30, or the matter moves to fall. Councillors signaled support for capital maintenance funding but drew a firm line at using city money to benefit the bank directly, with Councillor Azeem saying he would "defer to the city manager" for a structured recommendation and Councillor Nolan calling a direct bank pass-through "extremely problematic from a taxpayer fiduciary responsibility."