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Wishing You a Happy New Year

Reflecting on the last twelve months, the housing and community development sector in Massachusetts has accomplished much in our efforts to build strong communities. We are proud of both CEDAC’s contributions and the work of our non-profit community partners.

These partners are the backbone of the Commonwealth’s robust community development sector and its achievements can be seen in such developments as the Pleasant Street revitalization in Northampton by Valley CDC, Way Finders, and the City; by the continuing efforts by Jackson Square Partners in the redevelopment of Jackson Square with completion of JPNDC’s 75 Amory Avenue, the development of 25 Amory Street, and Urban Edge’s progress on the community skating facility; by Mission Hill NHS’ One Gurney Street transit-oriented development project at Roxbury Crossing; and by the completion of Asian CDC’s 88 Hudson Street affordable homeownership project. These impactful projects are just a sampling of the impressive and productive efforts by our non-profit partners.

At the end of the year, we narrowly averted harmful provisions in the federal tax reform act that would have eviscerated the 4% housing tax credit, historic tax credit, and New Markets tax credit programs.  The final bill will still have a negative impact on the tax credit marketplace, along with looming spending cuts to discretionary domestic spending that will arise as a result of the significant budget deficits created by the legislation.

Looking ahead, 2018 will surely bring:

  • Innovative solutions to better serve our partners and communities, like the work we’ve been doing in Central Massachusetts, led by Lionel G. Romain, to support and provide a series of workshops to build the capacity of and increase housing production by Worcester CDCs.
  • The passage of the Housing Bond Bill by the state Legislature – which includes proposed reauthorizations for several vital capital programs including the state’s housing tax credits, Housing Innovations Fund (HIF), the Facilities Consolidation Fund (FCF) and the Community Based Housing (CBH) program, as well as the Early Education and Out of School Time Capital Fund (EEOST) and the Home Modification Loan Program (HMLP).
  • Continued effective relationships with our state housing, education, and health and human services agency partners, especially the Department of Housing and Community Development (DHCD), the Department of Mental Health (DMH), the Department of Developmental Services (DDS), the Massachusetts Rehabilitation Commission (MRC), and the Department of Early Education and Care (EEC).
  • The celebration of our 40th Stay tuned for more information on special events and celebrations.

As the year comes to an end and we make our New Year resolutions, CEDAC resolves to remain committed to the great people and organizations that comprise our community development sector and the community residents impacted by our work.

Happy New Year from all of us here at CEDAC!

Categories: CEDAC, CIF, HomeMod, Housing, Housing Preservation

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