For over 40 years, CEDAC has helped to strengthen communities across the Commonwealth of Massachusetts by providing non-profit community development organizations with the financial resources they need to build quality affordable housing and child care facilities. Additionally, our staff of professionals help affordable housing developers and child care providers with the technical assistance they need to turn an idea into reality. Our early stage capital and predevelopment loans has led to the production of thousands of affordable housing units from Boston to the Berkshires, and to quality child care centers in urban, suburban, and rural communities.
If you are a non-profit community development organization seeking to produce or preserve affordable housing or a community-based non-profit childcare provider looking to upgrade or renovate your learning space, we may be able to help you. If you have any questions regarding our loan products or our public policy work, please do not hesitate to contact us.
CEDAC Executive Director
CEDAC Board Chairperson
- Baker-Polito Administration Awards $7.5 Million To Fund Health And Safety Improvements To 36 Early Education Organizations Across The State
In INSITES this week, we recap the Baker-Polito Administration's July 20th announcement of $7.5 million in Early Education and Out of School Time (EEOST) Capital Fund grants for FY21. Thirty-six child care organizations received awards for capital improvements related to the COVID-19 public health emergency. Lt. Governor Polito visited East Boston Social Centers to tour the facility and announce the grants, which were modified this year to range between $100,000 - $250,000 for critical health and safety improvements. Read INSITES
- Baker-Polito Administration Announces $139 Million in Funding to Produce and Preserve 1,346 Units of Affordable Housing
In INSITES this week, we recap Governor Baker's July 15th announcement of $139 million in new funding awards for 28 affordable housing projects across the Commonwealth. Through DHCD, the Baker-Polito Administration awarded $93.3 million in direct subsidy funding and $45.8 million in federal and state housing tax credits. The awarded projects will result in 1,346 new units of affordable housing for low- and extremely low-income (ELI) households. In its role as a predevelopment lender, CEDAC has committed a total of $13,711,548 in early stage financing to nine of 28 awarded projects. Read INSITES
- POUA And CICD’s 872 Morton Street Village Project Demonstrates How Affordable Housing Development Can Advance Racial Equity
In INSITES this week, we announce that CEDAC recently committed $625,000 in predevelopment financing to 872 Morton Street Village in Boston’s Mattapan neighborhood. This development represents a unique partnership between Planning Office for Urban Affairs, Inc. (POUA), a high-capacity housing developer, and the Caribbean Integration Community Development (CICD), a new, emerging BIPOC-led community development corporation that serves underrepresented communities. The project, which will provide first-time homeowners with wealth building opportunities and tenants with supportive services designed to build financial self-sufficiency, is an example of how affordable housing development can advance racial equity. Read INSITES
- RT @STheken: Thank you to all who helped, make this protect a reality @MassGov @MassLtGov https://t.co/hn8zzJ5Z2uJul 28 4:10 pm / /
- @mhphousing @NorthShoreCDC @MA_DHCD @abalononrosen1 @masscdcs @STheken Congrats to @NorthShoreCDC @ActionCapeAnn an… https://t.co/Aj4DJBdKJbJul 23 2:07 pm / /
- Congratulations, @EPHSomerville, on this well-deserved grant! We look forward to working together as you move your… https://t.co/0XlhbG5B5JJul 22 12:56 pm / /
- Congratulations to Home City Development Inc. for making progress toward the redevelopment of a historic former sch… https://t.co/NJhISbEANjJul 21 3:07 pm / /