Page 4 THE MALDEN ADVOCATE–Friday, January 10, 2020 8 Norwood St. Everett (617) 387-9810 www.eight10barandgrille.com Kitchen Hours: Mon-Thurs: 12-10pm Fri-Sat: 12-11pm Sunday: 1pm-10pm Come in & Enjoy our Famous... $12 LUNCH Menu! Choose from 16 Items! Served Monday thru Thursday until 3:30 PM Grilled Rib Eye Steak! Only $22.00 includes Two Sides Every Friday FRESH HADDOCK DINNER Prepared Your Way! Includes two sides Catch the NFL on our 10 TV’s! SABATINO INSURANCE AGENCY Call for a Quote 617-387-7466 Or email Rocco@sabatino-ins.com We cover: * Auto * Home * Boat * Renter * Condo * Life * Multi-Policy Discounts * Commercial 10% Discounts * Registry Service Also Available Shown from left to right are MRA Senior Planner Evan Spetrini, MRA Executive Director Deborah Burke, Mayor Gary Christenson, East Boston Savings Bank CEO Richard Gavegnano, Vice President Cheryl DeLorenzo, and Executive Vice President Frank Romano. (Photo Courtesy of the City of Malden) E ast Boston Savings Bank has donated $5,000 to support the City of Malden’s affordable housing strategies. The funds will help cover analysis the City needs to craft an inclusionary zoning policy. Inclusionary zoning is considered a best practice for municipalities concerned about affordability and the housing crisis, and has been a policy priority for Mayor Gary Christenson. The analysis will give Malden leaders the data they need to develop a policy that produces the greatest share of affordable homes and helps meet the needs of all Malden residents. “This generous contribution brings us closer to passing an inclusionary zoning ordinance and making Malden a more affordable city for all of our residents,” said Mayor Gary Christenson. “I’m proud that we have a partner like East Boston Savings Bank to help us preserve our community and move Malden forward.” “Once I heard more about what Mayor Christenson was looking to accomplish by creating an inclusionary zoning policy the Bank was all for it. The results of the analysis will help create the new policy supporting the City’s affordable housing strategies and protect the City’s diverse community as well as provide affordable housings to its residents,” said Richard J. Gavegnano, President and CEO of East Boston Savings Bank. Inclusionary zoning policies leverage private sector development by requiring residential developments to build a certain percentage of deed-restricted affordable homes. Policies vary by community, and are most successful when they consider that community’s real estate market, zoning restrictions, affordable housing needs, development costs, and other factors. If a policy sets the affordability requirements too high or too low, the community could lose out on the number of affordable homes that would be built. To avoid this problem, the Mayor proposed commissioning an analysis to help inform Malden policymakers. The City Council unanimously adopted a resolution supporting the effort. The Malden Redevelopment Authority (MRA) has been working closely with the Mayor’s office on affordable housing strategies, including inclusionary zoning. Having worked with East Boston Savings Bank on several public initiatives before, the MRA approached the bank about inclusionary zoning analysis late last year. The Bank quickly agreed to support the effort with their contribution. “This donation continues East Boston Savings Bank’s long-standing commitment to the Malden community,” said MRA Executive Director Deborah Burke. “We are grateful to have such engaged community partners, and look forward to the results of our efforts: a research-driven inclusionary zoning policy that protects our diverse community and provides affordable homes for Malden residents.” In addition to inclusionary zoning, the Mayor and MRA have pushed for an Affordable Housing Trust Fund and a Security Deposit Pilot Program. The City Council recently adopted the Affordable Housing Trust Fund ordinance, and the Security Deposit Pilot Program has been under review by the Community Preservation Commission (CPC) since being submitted by community partner Action for Boston Community Development (ABCD) in September. East Boston Savings Bank donates $5K to Malden Affordable Housing Strategy http://www.sabatino-ins.com SABATINO 564 Broadway Everett, MA 02149 617-387-7466 Hours of Operation are: Mondays - Fridays 9am to 5pm Saturdays by appointment only Like us on Facebook advocate newspaper Facebook.com/Advocate.news.ma
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