The state’s Home Modification Loan Program (HMLP) continues to be a vital resource in helping seniors, homeowners with disabilities or family members with disabilities modify their homes to enhance accessibility. Since 1999, the program has provided over 3,000 households the financial assistance to implement modifications that improved quality of life and accessibility.
The Home Loan Modification Program is helping families across the Commonwealth enhance their properties’ accessibility. The story from The Berkshire Eagle features a Williamstown couple that recently utilized the HMLP to help improve the home they purchased two years ago. Despite the significant benefits, the couple was only one of a few residents in Berkshire County to take advantage of the loan program. One of those benefits: the loan only has to be repaid if sells or transfers their property within the loan’s 50-year mortgage period. Furthermore, the income limit to apply for a loan rests at almost $300,000 for a family of four.
BOSTON (November 4, 2024) – The Community Economic Development Assistance Corporation (CEDAC) announced today that its early-stage project financing commitments during the first quarter of FY2025 will help to create or preserve affordable housing in communities across the Commonwealth. These projects will address a range of affordable housing needs including permanent supportive housing for formerly homeless individuals, new affordable housing production, and the preservation of existing subsidized housing.
CEDAC, together with three other Massachusetts public agencies, filed an amicus brief on August 16, 2024 with the Massachusetts Supreme Judicial Court (“SJC”)…
BOSTON (September 20, 2024) – The Community Economic Development Assistance Corporation (CEDAC) announced today that its early-stage project financing commitments during the fourth quarter of FY2024 will help to create or preserve affordable housing in communities across the Commonwealth. These projects will address a range of affordable housing needs including permanent supportive housing for formerly homeless individuals and individuals with developmental disabilities, new affordable housing production, and the preservation of existing subsidized housing.
On behalf of the Executive Office of Housing and Livable Communities (EOHLC), the Community Economic Development Assistance Corporation (CEDAC) is pleased to announce a Request for Proposals for funding under the Small Property State Acquisition Fund (SPAF) Pilot Program.
Request For Proposals For The Small Property State Acquisition Fund (SPAF) Pilot Program »
BOSTON (January 25, 2024) – The Community Economic Development Assistance Corporation (CEDAC) announced it has underwritten and will support 16 affordable housing projects that received funding awards as part of the 2024 Affordable Rental Housing competitive round led by the Massachusetts Executive Office of Housing and Livable Communities (EOHLC). In addition, CEDAC has committed a total of $2,015,000 in early-stage financing to six (6) of these projects, aimed at creating new and preserving existing rental housing units. In these six projects, 261 of the new units will be designated for low-income households, and of these units, 90 will be designated for extremely low-income (ELI) individuals or households often transitioning from homelessness.
CEDAC has underwritten and will assist seven supportive housing projects that received funding awards in the 11th annual Supportive Housing competitive round led by the Massachusetts Executive Office of Housing and Livable Communities (EOHLC), which will provide critical funding for projects across the Commonwealth…
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