CEDAC is pleased to announce that three nonprofit housing organizations have been awarded funding as part of the pilot round of the Small Property State Acquisition Fund (SPAF) Program.
The SPAF Program offers acquisition financing to eligible nonprofit housing organizations of up to $450,000 for the purchase of existing smaller residential properties of 1-8 units. This state capital funding is provided in the form of zero-interest deferred payment loans with 30-50 year terms.
We are pleased to share with you the latest annual report from the Community Economic Development Assistance Corporation (CEDAC).
CEDAC has underwritten and will support fourteen affordable housing projects that received funding awards in the most recent competitive round of affordable housing led by the Massachusetts Executive Office of Housing and Livable Communities (EOHLC).
BOSTON (February 13, 2025) – The Community Economic Development Assistance Corporation (CEDAC) announced today that its early-stage project financing commitments during the second 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 and new affordable housing production.
CEDAC, in partnership with the Massachusetts Housing Partnership, is launching a new predevelopment loan program to help nonprofit and resident-controlled organizations plan for decarbonization and climate resiliency in their affordable housing projects. As described in the CEDAC/MHP Predevelopment Decarbonization Loan term sheet , funding of up to $100,000 per project will be made available at a reduced interest rate of 3%.
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 »
