Community Economic Development Assistance Corporation (CEDAC)

CEDAC is pleased to announce that applications are now open for Early Education and Out of School Time Capital Grants. The Community Economic Development Assistance Corporation (CEDAC), in partnership with Massachusetts Department of Early Education and Care (EEC) and MassDevelopment award these grants to EEC-approved early education and out of school time programs to improve their capacity and enhance the environmental quality of their facilities and spaces. The objective is to ensure a safer environment for the children in the care of these programs to play, learn and grow. Since 2013, over $65 million dollars has been award to 125 projects. More information on this grant program is available here:

CEDAC was pleased to attend the recent groundbreaking of the 41 LaGrange Street Development. The 19-story development in the heart of downtown Boston is the result of a collaboration between The Mayor’s Office of Housing, St. Francis House and The Planning Office for Urban Affairs (POUA). Lt. Governor Driscoll, Cardinal Sean O’Malley, Mass Housing CEO Chrystal Kornegay, POUA President Bill Grogan and others who participated in the groundbreaking expressed hope that the development will be another step toward resolving the city’s housing affordability issues. 41 LaGrange Street will have 126 income restricted rental units, including 70 permanent supportive housing units. Of the126 units, 68 will be studio apartments, 21 will be one-bedroom units and 37 two-bedroom units. 56 of the units will be reserved for working households, while the remaining 70 will be reserved for homeless individuals requiring additional services. Two of the units will be leased at less than 50% of the AMI (Area Median Income), 19 units at less than 60% of AMI, and 35 units at less than 80% of the AMI. Since 2022, The City’s Office of Housing has either developed or renovated 577 units that have supportive services. These units are in housing communities located at 140 Clarendon Street, 3368 Washington Street, and 37 Wales Street. Additionally, there are 455 units with supportive services that are also awaiting development. CEDAC helped fund the 41 LaGrange Street development along with Executive Office of Housing and Livable Communities (EOHLC), MassHousing, The Mayor’s Office of Housing, Neighborhood Housing Trust, Bank of America and The Life Initiative.

We're helping to create and preserve affordable housing in every region of Massachusetts.

This is an exciting time in #Northampton and for the Valley Community Development Corp. as Prospect Place gets underway.

Excellent news from Preservation of Affordable Housing (POAH) that will expand and preserve affordable units in the Cape Cod region. By acquiring the Northside Village and Westport Village apartment buildings, POAH preserves the history and mission of both properties: providing quality affordable housing in their respective areas. The non-profit developer, owner, and operator of affordable housing properties is literally taking ownership. #CEDAC is pleased to have had a role in this endeavor.

The Children's Investment Fund was pleased to participate in a milestone event at East Boston Social Centers today - celebrating 20 new capital grant awards for early education and care centers. Thank you, Secretary Patrick Tutwiler, PhD and Commissioner Amy Kershaw, for your commitment to early education infrastructure! We were also joined by #CIF board members Amy O'Leary, Christi Staples, and Karley Ausiello. #earlyeducation #educationinfrastructure Community Economic Development Assistance Corporation (CEDAC) Massachusetts Executive Office of Education Massachusetts Department of Early Education and Care Strategies for Children United Way of Massachusetts Bay Sal DiDomenico Adrian Madaro  

The Affordable Homes Act (AHA) is impactful legislation that meets this historic moment of need head-on. Governor Healey, Lt. Governor Driscoll, Secretary Augustus and the administration have ensured that more opportunities will be created to finance, produce and revitalize much-needed affordable housing across Massachusetts. The Community Economic Development Assistance Corporation (CEDAC) is eager and ready to play an important role in this comprehensive approach through the bond programs it manages for production and renovation of supportive housing and childcare facilities.   We're pleased that the AHA also established a Supportive Housing Pool Fund to enable the production and operation of permanent supportive rental housing for individuals and families with specialized needs. The enactment of this bill demonstrates how committed the Healey-Driscoll Administration is to creating more affordable housing and establishing a comprehensive housing policy infrastructure. Office of Massachusetts Governor Maura Healey MassHousing

On behalf of the Executive Office of Housing and Livable Communities, CEDAC is pleased to announce a Request for Proposals for funding under the Small Property State Acquisition Fund (SPAF) Pilot Program. This Pilot Program offers acquisition financing to eligible nonprofit housing organizations of up to $450,000 for the purchase of existing residential properties of 1-8 units. We're currently accepting applications until the September 13, 2024 deadline. The SPAF Pilot Program guidelines and the application form can be found here: https://lnkd.in/eQJ8B_xh Applications should be submitted via email to spaf@cedac.org. You can also submit any questions on this Pilot Program to this same email address. Learn more: https://lnkd.in/ery5aAGf

In recognition of the anniversary of the signing of the landmark Americans with Disabilities Act (ADA), CEDAC is proud to support several programs that serve individuals with disabilities, working in close cooperation with the Massachusetts Executive Office of Health and Human Services, Executive Office of Housing and Livable Communities, Massachusetts Department of Mental Health (DMH), Massachusetts Department of Developmental Services and the Massachusetts Rehabilitation Commission (MRC) to administer these programs, which include: - Facilities Consolidation Loan Program (FCF), which provides capital funding for the creation of community-based housing for residents receiving services from the Departments of Mental Health and Developmental Services. - Community Based Housing (CBH), which provides capital funding for the development of integrated housing for people with disabilities, who would otherwise be at risk of homelessness or institutionalization. - Home Modification Loan Program (HMLP), which assists seniors, individuals, and families with children with disabilities to finance the cost of renovations to their primary residence, such as ramp and lift installation and kitchen or bathroom modifications, which allow individuals to remain at home. You can also learn more about the ADA here: https://www.ada.gov/

Last week, we were thrilled to join Massachusetts Executive Office of Housing and Livable Communities Secretary Augustus, Worcester Mayor Petty, Worcester City Manager Batista, State Senator Moore, as well as other state and local officials and nonprofit partners, for the official opening of District 120 – brand new affordable housing right in Worcester’s historic Canal District and situated next to Polar Park. CEDAC managed CBH bond funding to Tremont Development Partners that supported the development of this new building, which will offer 83 units of affordable housing for members of the local Worcester community. https://lnkd.in/d8nEAw4m