Today, CEDAC proudly released our 2024 Annual Report. The report highlights many of the impactful projects that we helped fund throughout the year.
Through our collaborations with over 41 community-based partners and more than 20 funders, we provided $44.5 million in early-stage funding and technical assistance for projects that were creating or preserving over 2,300 units of affordable housing. Our affiliate community development financial institution, Children’s Investment Fund (CIF), also had a strong year by arranging $2.1 million in loans and grants to help finance 11 early education and child care facilities. CIF’s involvement with these projects reinforces our commitment to the early success of future generations.
The report’s featured projects would not be possible without the collaboration and support of our public and private partners and funders.
Our efforts were especially important in light of the Healey-Driscoll Administration’s work with the Legislature to pass the Affordable Homes Act (AHA), the Commonwealth’s largest public investment into creating and preserving affordable housing to date. Through this historic $5.16 billion commitment, the Administration plans to support the production, preservation and rehabilitation of more than 65,000 homes across the state over the next five years.
I have had the pleasure and honor of working at CEDAC for 25 years and the FY 2024 report is a testament to the hard work of everyone in our organization, from our talented staffers to our incredible Board of Directors. While I am stepping down as executive director later this year, CEDAC and CIF are deeply committed to carry out our dual mission and support community development around the Commonwealth.
We hope the report provides insight into CEDAC’s work during the past year and inspires you to support our work in helping shape the Commonwealth’s housing future.
