Baker-Polito Administration Announces $8 Million in 2019 Community Tax Credit Allocations
Tax credits will enable 52 community organizations to increase private investment and provide more services to Massachusetts residents.
Lt. Governor Polito, Secretary Kennealy, Senator Adam Hinds, and Representative Natalie Blais with recipients of CITC allocations.
CHESTERFIELD – June 13, 2019 – Lt. Governor Karyn Polito and Secretary of Housing and Economic Development Mike Kennealy joined nonprofit community development corporations (CDCs) and Community Service Organizations (CSOs) from across Massachusetts to celebrate the impact of the Community Investment Tax Credit (CITC) program and announce 2019 allocations of $8 million.
52 organizations received tax credits that will enhance their fundraising and organizational capacity, in support of their efforts to increase economic opportunity for low- and moderate-income residents.
“Massachusetts’ thriving ecosystem of community development corporations provides meaningful services to residents and invaluable support to government,” said Governor Charlie Baker. “These organizations provide critical on-the-ground leadership for improving the lives of their neighbors, and we are proud to support the CITC program that has substantially boosted these organizations’ ability to attract investment and enhance programming for residents.”
“Since the program’s creation, community organizations across the Commonwealth have raised nearly $50 million, creating additional capacity to address the critical needs in their communities and connect residents to housing, employment, job training, childcare, and other resources necessary to pursue and reach their goals,” said Lt. Governor Karyn Polito. “Our administration is committed to supporting CDCs and their vital work to lift up residents and strengthen communities.”
The CITC program allocates tax credits to CDCs that have adopted Community Investment Plans outlining their development strategies and goals. The credits are then offered by recipient CDCs in exchange for qualified donations, incentivizing the investments required to sustain the work of these organizations. Since the inception of the program in 2014, the Department of Housing and Community Development (DHCD) has allocated more than $34 million of these tax credits, yielding nearly $50 million in new investment for CDCs.
“CDCs provide immense support to the communities they serve. From promoting financial literacy to building affordable housing, these organizations are our eyes and ears on the ground,” said Housing and Economic Development Secretary Kennealy. “This tax credit program empowers these organizations to increase capacity, and we are committed to continuing partnerships across the Commonwealth to solve critical issues and ensure that residents have the resources they need to thrive.”
“We thank the Baker-Polito Administration for their steadfast support of the community development field across the entire Commonwealth,” said Joseph Kriesberg, President of the Massachusetts Association of Community Development Corporations. “This administration has strengthened and grown the Community Investment Tax Credit program so that it is now helping to generate nearly $11 million in private philanthropy to fuel high-impact, resident-led community development from Western Mass to Cape Cod and nearly everywhere in between.
These dollars are being used to build and preserve homes, create jobs, grow local businesses and improve the quality of life for local residents.”
“Hilltown CDC is grateful to host the Lieutenant Governor today. The CITC program has been a successful financial and community organizing tool for us and provides a vehicle for people to invest in rural communities through Hilltown CDC,” said Dave Christopolis, Executive Director, Hilltown CDC. “Hilltown CDC has used donations raised through CITC to expand work with local farmers and retailers, improve our senior van pool and offer marketing and organizing support to our local artists and musicians. It has provided capital for us to build rural senior housing and provide technical assistance to our rural town governments. Twenty-first century rural communities need a vision and the capacity to carry out this vision. It requires our government and philanthropy to invest in people and to reimagine the importance of a vibrant rural economy. CITC allows this to happen.”
“Rural communities in Massachusetts face unique challenges when it comes to economic development. Community Investment Tax Credits allow local Community Development Corporations like the Hilltown CDC to be creative in developing and delivering programs that will have a positive local impact,” said Representative Natalie M. Blais. “I am grateful for the Commonwealth’s efforts to work with community partners to identify solutions that will truly make a difference.
The Department of Housing and Community Development oversees funding and resources to help people in Massachusetts live affordably and safely. DHCD, through its community and private-sector partners, provides affordable housing options, financial assistance, and other support to Massachusetts communities. DHCD oversees different types of assistance and funding for consumers, businesses and non-profit partners.
2019 CITC Tax Credit Allocations
ACT Lawrence: $50,000
Allston Brighton CDC: $200,000
Asian CDC: $180,000
CDC Southern Berkshire: $112,000
Coalition for a Better Acre: $75,000
Codman Square Neighborhood Development Corp.: $200,000
Community Development Partnership: $200,000
Community Teamwork: $112,000
Dorchester Bay Economic Development Corp.: $90,000
Dudley Neighbors, Inc.: $150,000
Fenway CDC: $200,000
Franklin County CDC: $180,000
Groundwork Lawrence: $125,000
Harborlight Community Partners: $200,000
Hilltown CDC: $150,000
Housing Assistance Corp. Cape Cod: $200,000
Housing Corp. of Arlington: $135,000
Housing Nantucket: $150,000
Housing Solutions Southeastern MA: $150,000
Island Housing Trust: $180,000
Lawrence Community Works: $200,000
Lena Park: $100,000
LISC Boston: $180,000
Madison Park CDC: $200,000 Main South CDC: $131,000
Metro West CDC: $56,000
Mill Cities: $200,000
NeighborWorks Southern MA: $150,000
New Vue Communities: $200,000
North Shore CDC: $150,000
Nuestra Comunidad: $180,000
Oak Hill CDC: $150,000
Quaboag CDC: $112,000
Revitalize CDC: $150,000
Somerville CDC: $200,000
South Boston Neighborhood Development Corp.: $50,000
The Neighborhood Developers: $180,000
Urban Edge: $200,000
Valley CDC: $131,000
Way Finders: $150,000
Wellspring Cooperative: $50,000
Worcester Common Ground: $150,000
Worcester Community Housing: $125,000
Worcester East Side: $131,000