Baker-Polito Administration Announces $9.5 Million in Community Investment Tax Credits to Support Community Development Corporations in Massachusetts

SalemThe Baker-Polito administration announced the awarding in 2022 of the Community Investment Tax Credit (CITC) program. This year, 51 Community Development Corporations (CDCs) and Community Service Organizations (CSOs) will mobilize $9.5 million in tax credits, raising nearly $20 million from local donors.

Lt. Governor Karyn Polito and Undersecretary of Housing and Community Development Jennifer Maddox yesterday joined Mayor Kim Driscoll, Senator Joan Lovely, Rep. Paul Tucker and the North Shore Community Development Corporation in Salem to make the announcement . The tax credit program enables CDCs and CSOs to increase their fundraising capacity and expand programs for low- and middle-income residents, including support for small businesses, community development efforts , arts and place-making initiatives, preservation and development of affordable housing, youth programs, and more. .

“Our Community Development Corporations are important local partners who understand their neighbors and have long championed affordable housing, small business support and other community needs,” said Governor Charlie Baker. “We are proud to support CDC working at the grassroots level in every region to build local coalitions on behalf of our residents and communities.”

“Congratulations to our CDC partners who have made the CITC program an incredible success, collectively raising nearly $95 million,” said Lieutenant Governor Karyn Polito. “During the height of the COVID-19 pandemic, CDCs in every region stepped up to help their neighbors with emergency food deliveries, local financial assistance, and more. Massachusetts residents are grateful for your continued dedication to increasing access to economic opportunity for all.

“The CITC program allows our CDCs to continue and expand their important role in supporting our residents and local economies by advocating for small business support, housing, emergency assistance, and more,” said Housing and Economic Development Secretary Mike Kennealy. “We have an incredibly talented network of community development specialists in Massachusetts, and we are proud to continue to support their good work.”

“Congratulations to the CDC de la Rive-Nord and to all of today’s recipients of these important tax credits,” said Undersecretary of Housing and Community Development Jennifer Maddox. “CDC has been at the forefront of our housing crisis, focusing on preserving and creating housing in under-invested neighborhoods and helping low- and middle-income first-time homebuyers access significant investment opportunities. With new federal and state funding, we have an incredible opportunity to increase the affordable housing development pipeline statewide.

The CITC program provides tax credits to CDCs that have adopted community investment plans outlining their development strategies and goals. The credits are then offered by the recipient CDCs in exchange for qualified donations, incentivizing the investments needed to support the work of these organizations. Since the program’s launch in 2014, the Department of Housing and Community Development (DHCD) has allocated approximately $50 million in tax credits, generating nearly $95 million in new investments for CDCs.

“Local engagement is at the heart of our community development coalitions”, said Senator Joan B. Lovely. “We are grateful that the North Shore Community Development Coalition has received $250,000 to continue its vital work to improve economic opportunity and improve the quality of life for our residents. CEO Mickey Northcutt and his team understand that to solve local problems and create lasting change, you need to work within and across neighborhoods. Thank you to the Baker-Polito administration, the Department of Housing and Community Development, and the Massachusetts Association of Community Development Corporations for your support and leadership.

“Thank you to Lt. Governor Polito for coming to Salem on behalf of the Baker-Polito administration to announce the CITC Awards which are a tremendous boost to our communities and an investment that will spur positive direction to meet our needs. in accommodation”, said Representative Paul Tucker.

“Community investment tax credits are a critical tool for increasing economic opportunity and growth, especially in our low-income neighborhoods and communities,” said Salem Mayor Kim Driscoll. “The $250,000 credit granted to the CDC de la Rive-Nord will allow the organization to continue and increase its efforts to make Salem, and the Point district in particular, more dynamic and liveable. I am grateful to the Baker-Polito administration and our legislature for making this important program possible.

“We deeply appreciate the commitment of the Baker-Polito administration to maintaining and expanding this program which drives resident-led community development across the Commonwealth,”said Joe Kriesberg, president and CEO of Community Development Corporations of Massachusetts. “This program provided CDC with the flexible funding it needed during the pandemic and with these new awards, the program will allow CDC to create and preserve affordable housing, help local businesses grow, adapt and thrive and provide a wide range of community-based programs that help families thrive.

“It was an honor to host CITC announcements at the North Shore CDC,” said Mickey Northcutt, CEO of North Shore CDC. “We are so grateful to DHCD and our government officials for continuing this vital program so that we can expand affordable housing and essential programs in the State of Massachusetts.”

Certified CDCs provide community services, including financial education, youth services, first-time homebuyer education and counseling, small business support, and other local economic and community development activities . Many CDCs also develop, preserve, and manage local affordable housing portfolios and receive funding or tax credit allocations through DHCD’s Affordable Housing Development Programs.

2022 CITC Tax Credit Allowances

Lawrence Deed: $50,000
CDC Allston Brighton: $150,000
Asian CDC: $150,000
CDC Southern Berkshire: $150,000
CEDC: $150,000
Chinatown Community Land Trust: $100,000
Coalition for a Better Acre: $150,000
Codman Square Neighborhood Development Corp. : $250,000
Community Development Partnership: $250,000
Community Teamwork: $250,000
Dorchester Bay Economic Development Corporation: $150,000
CDC Fenway: $250,000
Franklin County: $150,000
Preparatory work Laurent: $200,000
Harborlight Community Partners: $250,000
Hilltown CDC: $250,000
Housing Assistance Corp. Cape Cod: $250,000
Housing Corp. from Arlington: $200,000
Nantucket Housing: $200,000
Island Housing Trust: $250,000
JPNDC: $250,000
Just a start: $250,000
Latin Support Network: $100,000
St. Lawrence Community Works: $250,000
LIS Boston: $150,000
MACDC: $250,000
Madison Park CDC: $200,000
Main South CDC: $175,000
Metro West Collaborative Development: $75,000
Mill Cities Community Investments: $200,000
New Vue Communities: $250,000
NOAH: $250,000
CDC North Shore: $250,000
New Community: $150,000
OneHolyoke: $100,000
CDC Quaboag: $100,000
Revitalize the CDC: $200,000
SMOC: $250,000
Somerville CDC: $150,000
South Boston CDN: $75,000
South East Asia Coalition of Central AM: $100,000
Southwest Boston: $250,000
Neighborhood developers: $200,000
Urban Advantage: $250,000
Valley CDC: $210,000
WATCH: $250,000
Pathfinders: $200,000
Wellspring Cooperative: $150,000
WHALE: $250,000
Worcester Common Ground: $150,000
Worcester Community Housing: $100,000

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Jill E. Washington