Healey-Driscoll Administration Announces Nearly $12 Million in Community Investment Tax Credits
Funding will support 54 Community Development Corporations across the state
CHESTERFIELD – Yesterday, Lieutenant Governor Kim Driscoll and Housing and Livable ommunities Secretary Ed Augustus joined Community Development Corporations (CDCs) from across the state to announce nearly $12 million in Community Investment Tax Credits (CITC).
The CITC Program was created by the Legislature in 2012. It was designed to improve economic opportunities for low- and moderate-income households and other residents in urban, rural, and suburban communities across the commonwealth. The program works through Community Development Corporations (CDCs) partnering with nonprofit, public and private entities to accomplish these objectives. This is the 11th year of program funding, and today’s announcement will support 54 CDCs.
“These funds are a powerful tool for our local Community Development Corporations to help address our state’s housing challenges,” said Governor Healey. “The CITC program provides them with the flexible tools they need to fund new programs, fill funding gaps and leverage other resources to support their communities.”
“We are thrilled to support our local Community Development Corporations that are creating economic prosperity in our neighborhoods,” said Lieutenant Governor Driscoll. “CITC funding is just one piece of our administration’s strategy to increase our housing supply and lower costs so more people can live, work and stay in Massachusetts.”
Lieutenant Governor Driscoll and Secretary Augustus made the announcement at the Hilltown CDC in Chesterfield to underscore the importance of our partnerships and to highlight the significant role these neighborhood organizations play in addressing our housing challenges.
In addition to these grants, Governor Healey has proposed to make permanent and expand the statewide cap on allocations under the Community Investment Tax Credits from $12 million to $15 million with the Affordable Homes Act. This change would mean CITC funding could be used to attract $30 million in investments, from the existing $24 million cap.
"We understand how valuable this funding is to our local community developers,” said Secretary Augustus. “Our CDC’s need the flexibility and resources to provide opportunity for our low-and moderate-income residents. These funds, combined with expanding the cap in the Affordable Homes Act will make a big difference in our local communities.”
The 54 applicants received credit allocations between $50,000 and $300,000, for an overall 2024 awards recommendation totaling $11,670,000. The remaining $330,000 credits will be available for rolling awards.
Today’s announcement was part of the administration’s statewide Housing Campaign to call attention to the urgent need to lower housing costs throughout Massachusetts. Events last week focused on identifying housing solutions with the business industry, ending veteran homelessness, the impact of housing on health care, the importance of investing in the state’s public housing and the Healey-Driscoll Administration’s partnership with cities and towns to find housing solutions.
Angie Liou, Executive Director of Asian Community Development Corporation, Boston:
“The Asian Community Development Corporation is excited about our 2024 Community Investment Tax Credit award, which will enable us to fund resident and youth leadership development opportunities and placekeeping initiatives. Since 2014, CITC has leveraged significant amount of private donations to sustain our community development work in Chinatown and low-income Asian immigrant communities.”
Meridith Levy, Executive Director, Boston Neighborhood Community Land Trust, Roxbury:
Boston Neighborhood Community Land Trust received its first allocation of tax credits in 2023. We were able to put all of our credits to use, supporting our agenda to stabilize neighborhoods by taking homes off the speculative market through a model of community governance and permanent affordability. The CITC program helped us increase our fundraising by 50% last year.
Lydia Lowe, Chinatown Community Land Trust, Boston:
“Chinatown Community Land Trust relies on the Community Investment Tax Credit to support a wide range of neighborhood stabilization strategies, from taking small properties off the market to preserve as permanently affordable housing to planning green space expansion and resilience measures for an environmental justice community to exploring development of a Chinatown Historic and Cultural
District. Operating support from our CITC donors allows the community to set our own agenda and develop new models.”
Yun-Ju Choi, Chief Executive Officer, Coalition for a Better Acre, Lowell:
“CITC is an invaluable tool for increasing funding for our community development work. It has huge community impact, and we are grateful to the Commonwealth for its commitment to assuring that community development corporations like Coalition for a Better Acre have access to this type of flexible funding that helps us respond quickly to emerging community needs. And we thank the
many donors who have demonstrated their commitment by participating in CITC.”
Jay Coburn, President & CEO, Community Development Partnership, Eastham:
"The impact that the CITC program has had on our organization has been transformative -- allowing us to increase private sector support for our work by almost 2000%. It inspires our donors to step forward in a significant way, enabling us to expand our programs to tackle the barriers and disparities Lower Cape residents face in securing affordable housing and building businesses that offer better-paying, living-wage jobs.”
Karen Frederick, Chief Executive Officer, Community Teamwork, Lowell:
“We are more than excited to have been awarded additional CITC credits this year. The CITC Program has helped us increase our local donor base over the past 10 years, and positively impacted our ability to provide programs and services for those most in need. Most recently, the increase in funds the CITC program has generated, enabled us to complete the construction of much needed
permanent supportive housing units for individuals experiencing Homelessness, providing a profound impact on the community we serve.”
Steven Farrell, Executive Director, Fenway CDC, Boston:
“Thanks to EOHLC and our donors, the Massachusetts CITC program has enabled Fenway CDC to increase our organizational capacity, expand programs and services, and strengthen collaborations with public and private supporters. These unrestricted funds empower the Fenway community to work for housing policies that prevent displacement and homelessness and address racial disparities. Our focus on increasing access to affordable housing, resident services, workforce development, and community planning and organizing improves lives and enhances our vibrant, diverse community.”
Thomas Kegelman, Executive Director, Home City Development, Springfield:
“Home City Development, Inc. has been working for over fifty years in the City of Springfield and surrounding towns, supporting efforts to produce and maintain decent, affordable housing for families and individuals, improving lives for tens of thousands of individuals. But housing cannot solve all the challenges that our residents face—food scarcity, joblessness, and inadequate health care—are only some of them. Without the CITC program, we would be unable to support our residents with programs that supply food, jobs, healthcare and, most importantly, the hope for a better future.”
Sara Barcan, Executive Director, Homeowner's Rehab Inc., Cambridge:
“As a first-time CITC recipient in 2023, HRI is thrilled to receive a second allocation of credits this year. Thanks to CITC, we’ve already seen a significant increase in philanthropic support for our climate resiliency, housing development, resident services and home improvement activities. We’re putting those dollars to work for the people whom we serve, in Cambridge and five other communities.”
Anne Kuszpa, Executive Director, Housing Nantucket, Nantucket:
“With twenty-three rental homes currently under construction, the ability to allocate state tax credits not only illuminates our work but also offers a rewarding incentive to our generous donors. Receiving the Community Investment Tax Credit award significantly amplifies Housing Nantucket's capacity to positively impact lives. It paves the way for our collective vision where every individual has access to safe, affordable housing that fulfills their needs. We extend our deepest gratitude to the Healey-Driscoll administration for bestowing us with this invaluable privilege.”
Vanessa Calderón-Rosado, CEO, Inquilinos Boricuas en Acción (IBA), Boston:
“We are grateful for the new Community Investment Tax Credit allocation for IBA, which will help us have a deeper impact in our community. CITC has been a transformative force across the Commonwealth. For organizations like IBA, this funding creates an expanded pathway for community-driven housing development and for economic opportunities for our residents. Additionally, these
funds are crucial in propelling our initiatives forward and giving us the latitude and flexibility to be innovative and responsive to community needs.”
Philippe Jordi, Executive Director, Island Housing Trust Corp., West Tisbury
“The Island Housing Trust is thrilled to have received the maximum allotment of community investment tax credits for 2024. In 2023, we were able to leverage nearly $680,000 in donations with the aid of CITC. This program not only encourages our donors to give back to their Island community but empowers participants to substantially increase the impact they would normally make by utilizing tax credits. Over the past 10 years CITC has been transformative in building the Island Housing Trust's capacity as the leading nonprofit affordable housing developer on the Martha's Vineyard. We are beyond grateful to both the Commonwealth of Massachusetts and the Executive Office of Housing and Livable Communities for the continuation of this invaluable initiative.”
Carl Nagy-Koechlin, Executive Director, Just A Start, Cambridge:
"CITC is instrumental in supporting Just A Start's extensive housing and economic initiatives in Cambridge and surrounding communities. This includes developing 312 units of affordable housing over the next five years and assisting 314 low-income taxpayers in reclaiming $638,335 in refunds. We're grateful to local donors for their investments in this transformative work and for the CITC program for making these investments go twice as far."
Jessica Andors, Executive Director, Lawrence Community Works, Lawrence:
CITC has been absolutely critical in helping LCW to build a strong base of support for our community programs, and to innovate according to community needs and aspirations. CITC has helped us send young people to college, develop effective new workforce training programs, and tackle the state's affordable housing challenges. We are so grateful for the increased award and the ability to reach new donors and expand our capacity.
Emily Haber, CEO of MACDC:
“The CITC program is vital in providing critical, flexible, financial support that enables CDCs to achieve their missions. CITC continues to be a significant success as the funds raised through the program go toward projects and programs that are approved by members of a CDC’s community.”
J. Stephen Teasdale, Executive Director, Main South CDC, Worcester:
“Since its launch, the Community Investment Tax Credit has proven to be a hugely effective vehicle for leveraging financial contributions to support the work of the Commonwealth’s Community Development Corporations. Since 2014, the CITC program has succeeded in leveraging over $100 million of revenue that has allowed CDC’s statewide to deliver creative economic development opportunities
and much needed affordable housing for the diverse communities that they serve.”
Marc Dohan, Executive Director, NewVue Communities, Fitchburg:
“NewVue Communities is grateful that the Healey-Driscoll administration has been such a strong proponent of the Community Investment Tax Credit program. The Community Investment Tax Credit program allows NewVue to continue to support our work to support residents, communities, and the region. The recent award of Community Investment Tax Credits will help NewVue invest in the local communities we serve by assisting small businesses, helping tenants purchase their first home, building affordable housing and developing local leaders. Incentivizing financial support for community development corporations has become a critical tool as we raise funds to fuel our work.”
Mickey Northcutt, CEO, North Shore Community Development Coalition, Inc.:
“CITC has been a game changer for North Shore CDC. We are so grateful for the continued investment and excited to leverage these credits as always to bring in even more private support.”
N. Paul TonThat, Executive Director, Nuestra Comunidad, Roxbury:
"The CITC program is an ideal way to support community-driven initiatives, such as Bartlett Station, Nuestra CDC’s award-winning project that is an integral piece of the revitalization of Roxbury's Nubian Square. Thanks in part to contributions from CITC donors, Nuestra and our partners will complete Bartlett Station next year, creating 323 new homes in 10 Silver LEED certified buildings,
more than 54,000 square feet of locally-owned retail and commercial space, and the Oasis@Bartlett community park and art gallery that will feature the work of local artists of color.”
John Robinson, Board Chair, Revitalize CDC, Springfield:
"We are thrilled to be awarded $150,000 in Community Investment Tax Credits (CITC) for 2024. These credits are fundamental to expanding our donation pool as well as increasing the amount donated by our current supporters that in turn allows us to serve more low-income families in need of critical home repairs. Our hope is that the state legislature votes to eliminate the CITC sunset clause and to increase funding for the program from $12M to $15M annually."
Gonzalo J. Puigbo, Chief Executive Officer, Somerville Community Corporation, Somerville:
“The Community Investment Tax Credit has helped us support programs that are sometimes outside our scope of work, but highly necessary in our communities. During our workforce development work, one of our First Source Job Coaches revealed to us, that single women whom we coached to find jobs, were not retaining them. Our staff member encouraged us to create a Women Empowerment Program
in which we provide a support system that not only support their jobs, career aspirations and goals, but also a place, where they can talk freely about their challenges and create a community of advocacy and care, so that they can feel empowered and move ahead.
Without funding from CITC, we could not have made that happen, because these funds provide a flexible approach to act locally, when there are gaps for these types of funding.”
Jeanne DuBois, Executive Director, Southwest Boston CDC, Hyde Park:
“Southwest Boston CDC deeply appreciates the wonderful CITC award. It has been so critical to attract both individual investors as well as small businesses & larger corporations, banks, and foundations. These funds also give us flexibility to support our expanding green initiatives as well as much needed organizers & real estate project managers.”
Rafael Mares, Executive Director, The Neighborhood Developers, Chelsea:
"The Neighborhood Developers (TND) works every day to expand the inventory of affordable homes in Chelsea, Revere, and Everett. The Community Investment Tax Credit allows our donors to do more and therefore fuels our ability to achieve greater impact. This program is a win-win for the commonwealth and our cities. We are grateful for our 2024 CITC award and thank the Commonwealth for this support."
Alex Breiteneicher, Executive Director, Valley CDC, Northampton:
“We are grateful for EOHLC’s commitment to community development across the Commonwealth! The Community Investment Tax Credit is critical for small CDCs like Valley and this award will further our work of increasing equity through affordable housing and small business opportunities.”
Daria Gere, Executive Director, WATCH, Waltham:
“The CITC program is a great opportunity for our supporters to invest in Waltham’s social safety net while attaining tax benefits. With the increased support resulting from the CITC donations, WATCH has been able to grow our vital community programs - ESL and other adult education classes, housing assistance, emergency housing and rent arrears grants, and job and financial management coaching. We can provide all these services for free to our community thanks to the donations made through the CITC program!”
Keith Fairey, President & CEO, Way Finders, Springfield:
“The CITC program is essential. It is uniquely positioned to help generate donations for Way Finders and our programs. The 50% tax credit is a vital incentive for attracting new supporters and for current donors to invest more. We are very grateful for CITC. So are our supporters.”
