February 10, 2016 – Ten Boston City Councilors, led by Councilors Michael Flaherty and Andrea Campbell, sponsored an Order to place the Community Preservation Act (CPA) on the Boston ballot this November. Other Councilors signing on were City Council President Michelle Wu, Ayanna Pressley, Annissa Essaibi-George, Sal LaMattina, Frank Baker, Tim McCarthy, Matt O'Malley, and Tito Jackson. Thank you to all of the City Councilors.
If the measure is approved by the Council, Boston voters will be able to vote YES to raise additional funds to build new affordable homes, improve parks and playing fields, and preserve historic building for new uses. If adopted, the average single-family owner occupant homeowner would pay $23.09 per year in a surcharge on the property tax and the city would raise $13 million to help first-time homebuyers, renters, and seniors and to improve neighborhoods parks and playgrounds in our neighborhoods. Boston would also receive state matching funds that would increase the impact of CPA for Boston.
New MAHA Report on 2015 CRA Ratings Released
January 21, 2016 - Of the 88 Community Reinvestment Act ratings awarded to Massachusetts banks during 2015, only six (6.8%) were “Outstanding." This is by far the lowest share of “Outstanding” ratings since 1991 when ratings first became publicly available, according to a report issued today by the Massachusetts Affordable Housing Alliance (MAHA). In the last two years the share of Outstanding ratings has plummeted from 24.2% in 2013 to 14% in 2014 to 6.8% in 2015.
The report was prepared for MAHA by Jim Campen, Professor Emeritus of Economics at the University of Massachusetts at Boston and a long-time member of MAHA's Board of Directors.
MAHA's twenty-fifth annual report lists the CRA ratings assessed to all Massachusetts banks, credit unions, and mortgage companies and evaluates the performance of the three federal regulators and the Massachusetts Division of Banks in reviewing bank performance in meeting community needs.
MAHAMassachusetts Affordable Housing Alliance
1803 Dorchester Avenue
Dorchester, MA 02124
By email: email@example.com
By phone: 617-822-9100
By fax: 617-265-7503