Tag: community development

Housing Bond Bills Aim To Add $1.3B To State Programs

Massachusetts is a national leader in affordable housing by creating a system that provides reliable capital funds to affordable housing developers and because of leadership that consistently supports it. Current legislative proposals aim to recapitalize these programs through the introduction of new housing bond bills that seek over $1.3 billion in additional capital authorization for affordable housing.

The housing bond bill is critically important to ensuring that community development agencies and affordable housing developers have access to public financing options that make their projects feasible. In recognition of the importance of quality housing to the region’s economic competitiveness, the Commonwealth of Massachusetts has bold housing production and preservation goals over the next several years. These goals were expressed in the Baker-Polito administration’s ambitious capital budget plan for fiscal years 2018–22, which increased housing funding by 18 percent over prior levels. The enactment of a new Housing Bond Bill in the current legislative session is essential for the state to meet these goals.

The bills are important because they include resources that promote the production and preservation of affordable housing in general, including an extension of the state’s housing tax credit program. I want to focus on one specific area of community development for which both legislative proposals include significant funding – supportive housing. The commonwealth’s ability to create supportive housing units that provide case management and other services to some of the state’s most vulnerable populations is a quiet but important success story. The commonwealth produced 1,750 supportive housing units through these programs over the past three years.

The Community Economic Development Assistance Corporation (CEDAC) manages three supportive housing loan programs on behalf of the Department of Housing and Community Development (DHCD). The Housing Innovations Fund (HIF), the Facilities Consolidation Fund (FCF) and the Community Based Housing (CBH) programs provide resources to community-based developers. These loans not only offer developers much needed funds for their projects, they also help those organizations meet the housing needs of their most vulnerable community members.

Over the past 29 years, DHCD and CEDAC have through the HIF program allocated over $248 million to produce more than 13,500 units to assist homeless families and individuals, victims of domestic violence and their families, individuals living with HIV/AIDS, disabled veterans and single working adults. Through FCF funding, we have financed another 2,400 units with over $140 million to provide service-enriched housing to clients of the Departments of Mental Health and Developmental Services. And with the newest supportive housing bond program, CBH, CEDAC has allocated over $48 million to produce 342 fully accessible units for disabled persons. Ninety percent of these units serve extremely-low and very low-income residents of Massachusetts.

Continued Success

The success of the state’s investment in supportive housing programs is exemplified by the recent opening of the New Joelyn’s Home in Roxbury. Victory Programs, an experienced provider of housing and services, was forced to create a new residential facility serving those struggling with addiction after their original site on Long Island was abruptly shut down in 2014. As the city and state continue to deal with the opioid crisis and finding ways to treat individuals looking for a way out of addiction, facilities like New Joelyn’s Home become even more important. DHCD and CEDAC committed almost $1 million in HIF funds to Victory Programs, the state’s Department of Public Health provides over $750,000 in annual operating funds, and the nonprofit agency is now serving 24 women with supportive housing.

The bond bill also supports two other programs that CEDAC manages – the Home Modification Loan Program (HMLP), administered with the Massachusetts Rehabilitation Commission, which provides low- and no-interest loans to individuals and families with a disabled loved one to construct accessibility improvements that help them stay in their homes; and the Early Education and Out of School Time (EEOST) Capital Fund, managed in conjunction with the Department of Early Education and Care, which offers loans to community-based child care providers looking to upgrade or renovate their facilities. All of these programs help to strengthen Massachusetts’ cities and towns.

The commonwealth last passed a housing bond bill in 2013. In doing so, it strengthened community development agencies across Massachusetts and effectively created thousands of supportive housing units in cities and towns across the state. The challenges for homeless families or individuals living with addictions or disability have only grown since then. These bond programs work, for individuals and families, for the communities they live in and for the programs that help them. Let’s keep building on that success.

Roger Herzog is the executive director of the Community Economic Development Assistance Corporation (CEDAC).

http://www.bankerandtradesman.com/2017/06/housing-bond-bills-aim-add-1-3b-state-programs/

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SourceBanker & Tradesman

Howland Mansion Restoration Project Starts at last in New Bedford

NEW BEDFORD — It’s been years in the making, and the Waterfront Historic Area League has officially launched a restoration project of the John Howland Jr. family home at 38 South Sixth St.

The $2.9 million renovation will convert the house to seven market-rate apartments.

It was already subdivided into apartments when fire struck in 2005. Following that, the rare red brick mansion was exposed to the elements for five years before WHALE and the city stepped in to buy the building and repair the roof to stop further deterioration.

The quest was complicated and time-consuming. It has taken five years to develop the plans and put together the financing maze, but now the project has actually begun, with chain link fence already surrounding the property and the plywood starting to be removed from the window openings.

WHALE Director Teri Bernert said that the project should be completed by November.

The Howland House was built in 1834, one of several homes in the neighborhood built by the Howland family.

The family is one of the best known in New Bedford, having made their fortune in the whaling business.

Howland mansion restoration project starts at last in New Bedford When the fire occurred, there was some question whether the building could be saved. But WHALE has taken on impossible projects for over a half century.

So a team was assembled consisting of WHALE, the nonprofit developer The Resource Inc. (TRI) and architect Christopher “Kit” Wise, and everyone worked on the plans and the financing.

Bernert called the financing “very difficult,” but eventually things fell into place with funds from many sources.

Funds were contributed by the City of New Bedford, The 1772 Foundation, Bristol County Savings Bank, the Community Economic Development Assistance Corp., the Mass. Department of Housing and Community Development, the Mass. Historical Commission, the Mass. Housing Investment Corp., and the National Park Service Historic Tax Credit Division.

Federal and state officials are aware of the house, and the contractor has begun examining and testing the brickwork to match its color as well as repointing the mortar to historic preservation standards.

The building was sold to TRI last week, said Bernert. The general contractor for the project is D.F. Pray.

http://www.southcoasttoday.com/news/20170428/howland-mansion-restoration-project-starts-at-last-in-new-bedford

SourceSouthCoast Today

Video: Communities Built for Children

What makes communities strong?

“For many families a good place to live is a community that provides for the safety and healthy development of its children,” CEDAC’s executive director, Roger Herzog, says in the video.

The video was produced by Boston-based CEDAC (the Community Economic Development Assistance Corporation) and its affiliate, the Children’s Investment Fund.

“Numerous studies show that high-quality early care and education has a unique capacity to prepare low-income children for future academic and lifetime success,” Herzog adds. “The key phrase is high-quality.”

Nurtury, a state-of-the-art early learning facility in Jamaica Plain, is featured in the video, as is Representative Jeffrey Sanchez (D-Boston), who discusses how important Nurtury was to him and his family when he was a child.

The video also touches on a policy victory, the Early Education and Out-of-School-Time Capital Fund, which provides funds to improve physical early education and out-of-school-time facilities.

To learn

• watch the video

• check out the Children’s Investment Fund website, or

• read about some of the Children’s Investment Fund’s work in a report about building strong pre-K programs

 

https://eyeonearlyeducation.com/2017/02/07/video-communities-built-for-children/

SourceEye on Early Education

Northampton receives funding for affordable housing project

NORTHAMPTON, Mass. (WWLP) – The Baker administration announced on Tuesday millions of dollars in funding for an affordable housing complex in Northampton. The project is planned for the former Northampton Lumber Yard property on Pleasant Street.

The Governor’s office said funding will come from low-income housing tax credits, rental housing subsidies and other state funds. The plan includes developing 55 units of affordable family housing and retail space in the downtown area

“We are strengthening cities and towns across the Commonwealth, by partnering with local stakeholders to deliver on their unique visions for community development,” said Governor Charlie Baker. “The tools we are bringing to bear in Northampton, in public infrastructure and affordable housing funding, will allow this city to create a dynamic new entrance to its downtown, while opening up new housing options for families.”

“Northampton has displayed a remarkable level of collaboration and partnership to craft its Pleasant Street corridor master plan, and we are pleased to partner with the city to help deliver on that plan’s promise,” said Lieutenant Governor Karyn Polito. “We are growing strong regional economies, by empowering communities to pursue long-term planning, and then providing them with the necessary resources to reach their goals for economic growth and new housing development.”

Some local business owners told 22News they’re worried parking will be a problem. The owner of Harold’s Garage, Michael Willard, said, “Well it’s going to affect everybody. All these store fronts across the street. People aren’t gonna spend how long looking for a parking place, they’ll just go back to the malls like they always do.”

According to the Governor’s office, the Department of Housing and Community Development awarded the project $1.79 million in state and federal low-income housing tax credits and $3.3 million in direct rental housing subsidies.

Construction could start as soon as September of 2017.

http://wwlp.com/2017/01/10/northampton-receives-funding-for-affordable-housing-project/

‘Lumberyard’ affordable housing in Northampton wins $5 million from state

The Lumberyard Apartments — a 70,000-square-foot affordable housing project planned at 265 Pleasant St. — will move forward with a $5 million investment from the state.

The Baker administration announced Tuesday that its Department of Housing and Community Development will award the project $1.79 million in state and federal low-income housing tax credits and $3.3 million in direct rental housing subsidies.

The Valley Community Development Corporation plans 55 rental units, with 11 reserved for very low-income households, at the site of the former Northampton Lumber.

The Lumberyard Apartments — a 70,000-square-foot affordable housing project planned at 265 Pleasant St. — will move forward with a $5 million investment from the state.

The Baker administration announced Tuesday that its Department of Housing and Community Development will award the project $1.79 million in state and federal low-income housing tax credits and $3.3 million in direct rental housing subsidies.

The Valley Community Development Corporation plans 55 rental units, with 11 reserved for very low-income households, at the site of the former Northampton Lumber.

http://www.masslive.com/news/index.ssf/2017/01/lumberyard_affordable_housing.html

© 2016 MassLive LLC. All rights reserved

SourceMassLive

AT HOME IN NORTHAMPTON: Nonprofit Developers Tackle Two Projects On Northampton’s Pleasant Street; Efforts Help Revitalize Neighborhoods, Provide Housing Options For Individuals And Families

The nonprofit housing development community is playing an increasingly prominent role in revitalizing neighborhoods throughout the commonwealth that have gone through years of neglect and disinvestment. In some cities, the economics often don’t work for private sector investment, but nonprofit development of mixed-use projects, coupled with public infrastructure funding, can transform the perception of value and the actual experience for local residents. More and more, we are seeing community-based, nonprofit affordable housing developers – and the commonwealth’s affordable housing finance system – step in, to positive results.

Massachusetts has a well-regarded affordable housing financing and community development system that continues to produce and preserve affordable units across the state. CEDAC works with nonprofit developers in many different settings – from rural areas in Western Massachusetts to neighborhoods in Boston – to ensure that they have the resources they need early in their projects to turn an

idea into reality. We provide the early stage capital financing and technical assistance that community-based organizations need to get an affordable housing project off the ground. And for many municipalities, those efforts help revitalize neighborhoods and provide housing options for individuals and families across a range of incomes.

Gateway To Downtown Northampton

We have seen that kind of nonprofit reinvestment happen in Boston, in places like Roxbury’s Jackson and Dudley squares, but this isn’t only happening in the region’s largest city. It’s also taking place in Northampton, where in recent months CEDAC has been involved with two separate nonprofit-led projects that are helping to improve an important district of the city to turn it into a more welcoming gateway for visitors and residents alike.

One project to transform an underutilized, single-room occupancy building on Pleasant Street in Northampton into new affordable units with both housing and services was more than a decade in the making. The city of Northampton had long looked for a nonprofit developer to address this troubled property but was unsuccessful until HAP Housing, a regional affordable housing developer based in Springfield, decided to take on the challenge. CEDAC provided HAP Housing with a $1.6 million acquisition loan and $1 million in predevelopment funding, which allowed HAP to acquire the site and undertake architectural, legal and financial planning for the project. The city of Northampton has also made $450,000 in funds available for the development and the commonwealth’s Department of Housing and Community Development awarded the project $6.6 million in housing tax credits and other capital funds. Now under construction, Live 155 will offer 70 studio- and one-bedroom apartments above street-level commercial space, which aligns with Northampton’s new urban design goals.

Another community-based organization based in Northampton, Valley CDC, is undertaking a similarly ambitious and important project on Pleasant Street across the street from Live 155. Formerly occupied by Northampton Lumber, this 1.23 acre site will create 55 new units of housing as well as commercial space. CEDAC is providing $1.8 million in loans to help the organization gain site control and address other early costs associated with the project. Furthermore, both Live 155 and the Northampton Lumber sites are close to transit options, including area Amtrak and bus stations, which will give residents transit opportunities for work.

CEDAC’s investment is already spurring additional interest and resources into this part of Northampton. In November, Massachusetts Secretary of Housing and Economic Development Jay Ash announced that Northampton had received a $2.5 million MassWorks infrastructure grant that will fund the replacement of a storm drain under the Northampton Lumber site, while also improving the overall character and function of Pleasant Street, with enhanced bike lanes, sidewalks and benches, among other upgrades. In total, the cumulative public and private investment in both projects is an estimated $42.6 million.

The experience in Northampton shows that knowledgeable nonprofit organizations, dedicated community planners and an efficient, functioning community development system can play an important role in creating sustainable, thriving communities that also meet the housing needs of vulnerable residents. As other communities, including some of the region’s more distressed cities and towns, think about ways to revitalize their neighborhoods, they would do well to look to their community development agencies and nonprofit real estate developers to provide similar inspiration.

Roger Herzog is the executive director of the Community Economic Development Assistance Corporation (CEDAC). Lionel Romain is CEDAC’s director of housing for Central and Western Massachusetts.

 

http://www.bankerandtradesman.com/2016/12/nonprofit-developers-tackle-two-projects-northamptons-pleasant-street/?utm_campaign=Daily&utm_source=hs_email&utm_medium=email&utm_content=39750107&_hsenc=p2ANqtz-8YaoO2DQrMys0ygxPy29WYpgEU-AzBVqf4n7rYfBiE4_JLOEJ2BQKtee9Pf2lfSC_6TT_8rWsUC5xwf21EIIcI5CwRSQ&_hsmi=39750107

SourceBanker & Tradesman

88 Hudson revitalizes Chinatown with more affordable homes for working families

Asian Community Development Corporation (ACDC), a 29-year-old nonprofit developer in Boston, is proud to create more affordable homes for working families at 88 Hudson Street in Chinatown. The project will create 51 condos available to families making 60 to100% of the area median income (AMI), with the majority of the condos available to families at or below 80% AMI. The $20 million project has generated 130construction jobs to date and expected to gene

rate an additional 220 jobs during the remainder of the project, including jobs for Chinatown residents. Construction began in May 2016, and ACDC expects completion by late 2017.

88 Hudson is Phase 2 of the Parcel 24 project and when completed, it will represent the culmination of more than a decade of planning, advocacy, and hard work to restore this site to a thriving community in Chinatown once again.

Located on historic Hudson Street in Chinatown, 88 Hudson is one of ACDC’s longtime efforts to revitalize and restore families to a part of Chinatown that was once home to hundreds of immigrants before the highway projects of the 1950s and 60s, which displaced many families living on Hudson Street, including one of ACDC’s founding board members and current board president, Paul W. Lee. “I’m proud to be working with ACDC to create affordable housing for new immigrant families on the site where I have fond memories of growing up in a vibrant, immigrant community over 50 years ago.”

The six-story development will feature 20 one-bedroom units, 22 two-bedroom units, and 9 three-bedroom units, including fully handicap accessible units.  The project team consists of ACDC as the developer, Maloney Properties as the broker and management company, Utile as the architect firm and NEI as the general contractor. The project was financed by the State Department of Housing and Community Development; the City of Boston’s Department of Neighborhood Development, construction financing from Eastern Bank, and predevelopment financing from Community Economic Development Assistance Corporation.

Eligible applicants will be selected through a lottery. Interested parties can sign up for a mailing list that will send alerts about the lottery and when applications will be made available at www.88hudson.com. Questions about the application process should be directed to Maloney Properties.

 

About Asian Community Development Corporation

The Asian Community Development Corporation (ACDC), a 29-year old community-based organization, serves the Asian American community of Greater Boston, with an emphasis on preserving and revitalizing Boston’s Chinatown. ACDC develops physical community assets, including affordable housing for rental and ownership; promotes economic development; fosters youth leadership development; builds capacity within the community and advocates on behalf of the community. ACDC has developed over $100 million in mixed-use real estate that is home to over 1,200 residents in Boston and Quincy, and provides housing counseling and homebuyer workshops throughout the year. For more information or to sign up for a workshop, visit www.asiancdc.org.

 

http://sampan.org/2016/12/88-hudson-revitalizes-chinatown-with-more-affordable-homes-for-working-families/

SourceSampan

City celebrates completion of Harborlight House renovation

Harborlight House is complete, and Tuesday afternoon was a time to celebrate.

Officials from Harborlight Community Partners and the city, along with residents, gathered at 1 Monument Square to celebrate the end of the 15-month renovation at the home that provides services and support to elderly residents living on limited incomes.

Along with larger rooms, the home also features a large porch, a treatment room where residents can receive health care, a new elevator, plus an overnight room for staff in case of inclement weather.

The completion of the project last month helps the Harborlight House to continue the mission it’s had for more than 50 years — to provide supportive living for seniors in need.

“I think in every respect, it’s as elegant as we hoped it would be,” said Neil Douglas of First Baptist Church, which founded Harborlight House.

The home now has 30 rooms, 28 of which are occupied, according to Beth Brenner, Harborlight House’s property manager. There used to be 35 rooms, but some of the rooms were “really small,” she said.

“A few of the rooms got larger,” she said, adding that most had twin beds.

Andrew DeFranza, Harborlight Community Partners executive director, said the organization is “very excited” to have the renovation complete, noting the home is its oldest property.

“It’s a wonderful and unique way to provide affordable housing and supportive services in a way that helps elders age in a place and avoid long-term care facilities,” he said.

The home is not considered assisted living, DeFranza said, noting his organization no longer has a certification for that. He added that assisted living has become somewhat of a “lifestyle model” whereas Harborlight is more concerned with providing affordable housing for elders that also meets their needs.

“It’s really an affordable housing setting with a service package built on top of it,” he said.

Harborlight House, a combination of two Victorian homes, has housed seniors with limited incomes since 1963, according to the Harborlight website.

First Baptist Church purchased the home and remodeled it, turning it into a home for seniors that offered not only living quarters, but meals and other services.

It was in the 1990s that Harborlight decided it was time to renovate the home the first time.

Funding for this round of renovations came from multiple sources, including the state as well as the city’s Community Preservation Committee.

http://www.salemnews.com/news/local_news/city-celebrates-completion-of-harborlight-house-renovation/article_36332a94-02f0-5bbc-ade2-197ab319fdb5.html

SourceThe Salem News

Shoe Shop Place opens officially with ribbon cutting

It’s been a long time coming, but the affordable housing planned for Shoe Shop Place, originally the Leonard, Shaw & Dean shoe company, has come to fruition — a feat commemorated with a ribbon cutting ceremony last week.

According to Executive Director of NOAH (Neighborhood of Affordable Housing, Inc.) Philip Giffee, the project’s success is the result of collaboration between the Greater Attleboro/Taunton HOME Consortium, Bank of America Merrill Lynch, Massachusetts Housing Partnership, Massachusetts Department of Housing and Community Development, MassHousng, Community Economic Development Assistance Corp., Massachusetts Historical Commission, NeighborhoodWorks America, and the town of Middleboro.

“We’re really grateful the town has been such a strong supporter for affordable and workforce housing. 25 families from both the town and region are now occupying this former shoe factory into uniquely beautiful apartments,” told The Gazette. “I think we started construction about 15 months ago and it’s been finished since June. So it’s been done for a number of months now and people are just about finished moving in.”

The Shoe Shop Place, at 151 Peirce St., features four 1-bedroom apartments, three 3-bedroom apartments, and 18 2-bedroom apartments. Giffee says not only does a project like this create a decent living space for working class residents, but it saves a building of historical significance to Middleboro.

“There is a subsidy attached, but people pay decent rent that’s slightly below market. The people who live there could be people who work in the local stores, people who work for the town, etc.,” Giffee said. “What you get out of a project like this is the restoration of a historic property, a building with good management, the creation of a number of jobs, and we pay taxes. So, it’s no longer a blight on the neighborhood sitting there vacant and deteriorating — it’s now a good living space for residents that is generating revenue for the town.”

A piece of funding for the Shoe Shop Place project came from the town’s Community Preservation Act (CPA) funds. Community Preservation Committee Chair Jane Lopes says the project was an obvious fit for CPA money.

“One of the charges of CPA is to create affordable housing so we were interested in that respect — it helps the town move toward the affordable housing quota — and then there’s the historical aspect of it. This is, I believe, the last shoe manufacturing building and shoe shop in town that’s still standing. Shoe manufacturing was once Middleboro’s claim to fame, so it’s a significant part of the town’s identity,” she said. “It’s really amazing what they did with it. It was a real eye-sore before. Hopefully it gets more people into the downtown area who will go to our museums, frequent the library, shop downtown….”

Lifelong Middleboro resident Beverly Brackett thought she was down on her luck while trying to move out of a 2-bedroom apartment in town which she could no longer afford until coming upon Shoe Shop Place by chance one day and learning that there were 1 bedroom apartments available.

“I had a 2-bedroom in The Grove (Residences at The Groves) but my family got smaller so I had to take a 1-bedroom, and they didn’t have any over there,” she said. “Middleboro is hard to find an apartment in. It took me a month and a half to find this one — I was out one day and saw the sign on this building that said they had 1-bedroom apartments — but before that, I was looking in the newspapers, books, I used my friend’s computer to look online, but I couldn’t find anything.”

When asked how things have been since moving into her new apartment, Brackett said, “I love it.”

“I love how it’s set up. There’s a laundry room around the corner and you use a card for the washer and dryer. There’s good security, there’s cameras outdoors so you can see who’s trying to come in and you buzz them in from here. It makes me feel safe,” she said. “I like how quiet it is too — the walls are nice and thick.”

At the ribbon cutting ceremony, Chair of Selectmen Diane Stewart — who noted her mother once worked at the shoe factory as a teen — expressed excitement at the accomplishment and what it means for the town.

“Anybody who knows Middleboro knows we do have a lack of affordable housing in Middleboro so I’m very glad that we were able to do this project, that we were able to provide some more adequate housing for the residents of the town, that we were able to create this beautiful building … and renovate it so it’s not an eye sore,” she said. “It’s beautiful. I’ve been inside, the apartments are very nice. And anybody who knows me knows I was particularly excited to see the handicap accessible units as well.”

“As many of you know, Shoe Shop Place is a true small town success story,” said President of Middleborough on the Move Judy Bigelow-Costa. “What was once an active vibrant shoe factory that epitomized the working class character of Middleboro and later became a vacant blighted property was reborn and now a vibrant property.”

Republican State Rep. Keiko Orrall spoke to the bipartisan work it took to accomplish the renovation and opening of Shoe Shop Place.

“In this difficult political climate I think it’s important to understand that this project began under a Democrat governor… With the beginning of that administration, which was a Democrat administration, into the Baker administration, which is a Republican administration, we have been able to accomplish and get something done here for our town that will benefit our community for years to come,” she said. “We’re all committed to getting to better communities and it doesn’t matter what political party is in charge here in Massachusetts.”

SourceSouth Coast Today

State Bonds For Early Education Prove Successful

The research has been consistent – children from low-income communities make tremendous educational gains when they have access to high quality early education programs. Early education has become an important priority for Massachusetts, which is why, three years ago, the commonwealth made history by becoming the second state to make state bond financing available to improve the quality of early education and out of school time facilities – and the first to include that financing in a larger community development bond bill.

The Housing Bond Bill that passed in 2013 created the Early Education and Out of School Time (EEOST) Capital Fund and for 16 child care providers, EEOST has made all the difference in ensuring they have quality learning space.

The physical space in which children in early childhood education (ECE) and out-of-school time (OST) programs spend most of their time is critical to their educational development. Proximity to classroom sinks, the installation of adequate HVAC systems, and access to indoor and outdoor play spaces are all as important as programming quality in early education. Nonprofit, community-based child care providers, especially those serving children in low-income neighborhoods, are often located in spaces not designed for learning – old storefronts, gloomy church basements and other sites that are inexpensive but not ideal. While many want to upgrade their facilities, most providers find it infeasible to fundraise the necessary capital or borrow loans from traditional banks.

Roger Herzog

Roger Herzog

For more than two decades, Children’s Investment Fund had offered both loans to child care providers planning to improve their facilities and the technical assistance that they require to complete those plans. But it had become apparent that to address the facility challenges of so many community-based providers, a new form of public capital funding would be needed. That’s why the EEOST Capital Fund was created. Luckily for Massachusetts, we already had a successful affordable housing financing example – of which CEDAC plays a critical role – to model the program after.

The 2013 legislation authorized $45 million to create the EEOST Capital Fund program to improve the quality of center-based child care facilities. In the first three years, Massachusetts has allocated $4 million per year for this purpose. The EEOST program, which is administrated by CEDAC and the Children’s Investment Fund in partnership with the Massachusetts Department of Early Education and Care (EEC), awards grants of up to $1 million to large group early education and out-of-school time programs for major capital facilities projects.

Theresa Jordan

Theresa Jordan

Sixteen child care centers have received grant awards from the EEOST Capital Fund program. Nearly 1,900 children across the commonwealth, of which more than 85 percent are from low-income families, will benefit from improved learning environments. The state’s $11 million of capital grants to date have leveraged more than $30 million in private investment from banks, social lenders, charitable foundations and other sources. All in all, the program is a great investment in supporting community-based nonprofits and Massachusetts’ children – and we’d be smart to build upon that success.

Among two of the providers to receive EEOST grants were the Catholic Charities Lynn Child Care Center and Valley Opportunity Council. The Lynn Child Care Center received a $750,000 EEOST award to transform a 13,000-square-foot building by replacing the roof, reconfiguring classrooms with new walls and floors, and installing a new heating and ventilation system as well as a limited use elevator, creating a more modern and child-friendly atmosphere. The center currently serves 100 children from Lynn, Nahant and Saugus, 95 percent of whom receive some form of public subsidy.

Valley Opportunity Council (VOC) in Chicopee demolished a concrete building – a cramped, dark former dentist’s office and single-family home – they had owned and operated since 2009. Through a $1 million EEOST grant, VOC constructed a new, open, bright and energy efficient 6,800-square-foot building to meet their program needs. The new facility added 50 percent more space, including expanded classrooms, and now serves 60 preschoolers and 22 out-of-school time children. VOC serves a diverse population, with 97 percent of the children coming from low income families.

Massachusetts has once again demonstrated it is a community development leader with the creation of the EEOST Capital Fund, and it is doubly sweet that the fund’s creation also reinforces our status as a national education leader. We’re looking forward to continuing our work improving environments for low-income children throughout the commonwealth.

Roger Herzog is the executive director of the Community Economic Development Assistance Corporation. Theresa Jordan is director of Children Facilities Finance for Children’s
Investment Fund.

http://www.bankerandtradesman.com/2016/11/state-bonds-early-education-prove-successful/?utm_campaign=Daily&utm_source=hs_email&utm_medium=email&utm_content=37488559&_hsenc=p2ANqtz-8b4wmUfwMSbvbnocc5StOdQdOx33G46_0DGMnJ6UQpTfb56BMr_qjktlanst_hftYAPEA2JaaVYIB0YERH8yMaSaYlVg&_hsmi=37488559

SourceBanker & Tradesman