• Nitza Cancel and her son – Residents of New Hope II, Lowell
    House of Hope’s New Hope II was the first project to receive funding from the HPSTF program. The residence, which is now home to formerly homeless families like Nitza’s, also received state funding through the HIF program as well as a $1 million acquisition loan from CEDAC.
Nitza Cancel and her son – Residents of New Hope II, Lowell
House of Hope’s New Hope II was the first project to receive funding from the HPSTF program. The residence, which is now home to formerly homeless families like Nitza’s, also received state funding through the HIF program as well as a $1 million acquisition loan from CEDAC.

Supportive Housing

CEDAC serves as the Department of Housing and Community Development’s (DHCD) underwriting agent for multiple state loan programs that provide deferred-payment, zero interest, subordinated permanent mortgage financing to help meet the costs of producing supportive housing. These loan products frequently blend with Low Income Housing Tax Credits and other state and local soft debt. On behalf of DHCD, CEDAC underwrites, closes and provides asset management services for loans under under four state loan programs.

For more information and for program guidelines, please visit the Application Forms & Guidelines page.

State Loan Programs
Housing Innovations Fund (HIF)

HIF supports single person occupancy housing; supportive housing for formerly homeless households, veterans, seniors, and unaccompanied youth; single person occupancy housing; limited equity cooperatives; and other innovative projects.

Facilities Consolidation Fund (FCF)

FCF finances community residences for clients of the Department of Mental Health or the Department of Developmental Disabilities including both group homes and integrated housing options.

Community Based Housing (CBH)

CBH provides funding for the development of integrated housing for people with disabilities, who would otherwise be at risk of homelessness or institutionalization.

Housing Preservation and Stabilization Trust Fund (HPSTF)

HPSTF provides capital, operating subsidy and service funds for supportive housing developments serving formerly homeless households, veterans, seniors, unaccompanied youth, and other populations in need of housing with services.

Through FY 2016, the HIF, FCF, CBH, and HPSTF programs have helped finance the construction and renovation of more than 16,000 units of affordable and supportive housing.

 

Supportive Housing News