Impact
CEDAC approaches its work with a continued focus on achieving lasting impact within the communities and constituencies we serve. We are pleased to present our FY22 lending data that demonstrates CEDAC's robust community development activities in a wide variety of projects throughout the Commonwealth. CEDAC early stage project financing along with technical assistance supported 51 projects with 2,092 housing units in FY22.
With our focus on creating lasting impact, CEDAC plays a critical role in the state's efforts to deliver permanent housing solutions for our most vulnerable populations, including families, elders, and veterans. 2022 saw the completion of several permanent supportive housing projects at a time when the growing population of unhoused families and individuals across the state has become a particularly pressing issue. CEDAC has also committed predevelopment and acquisition financing to an emerging set of projects focused on converting hotels and motels to create a significant volume of single room occupancy housing. This model of permanent supportive housing development is one CEDAC and its state partners see great promise in for their efficiency and effectiveness, as we address the crisis of homelessness.
