THE REVERE ADVOCATE – FRIDAY, OCTOBER 8, 2021 Page 5 Plans outlining their development strategies and goals. The credits are then off ered 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 has allocated more than $42 million of these tax credits, yielding nearly $75 million in new investment for CDCs. KARYN POLITO Lt. Gov. Kennealy said Massachusetts CDCs have been ringing the alarm on the housing crisis crease their fundraising, and in turn make greater investments in our communities to improve housing, provide assistance to small businesses and enable neighborhoods to thrive.” Giannino said she is grateful for the partnership between TND and the City of Revere. “This past year has put a fi nancial strain on many, especially our community’s low- and moderate-income households,” she said. “This funding will help to provide new economic opportunities to these households, which will overall strengthen our City of Revere.” Gerry D’Ambrosio Attorney-at-Law Is Your Estate in Order? Do you have an update Will, Health Care Proxy or Power of Attorney? MICHAEL KENNEALY Community Development Secretary sary to yielding progress for our communities. Thank you, Lieutenant Governor Polito, Secretary Kennealy, our state delegation and the folks at TND and MACDC [Massachusetts Association of Community Development Corporations] for this collaborative eff ort.” The CITC program allocates tax credits to CDCs that have adopted Community Investment JEFFREY TURCO State Representative for many years and have been building high-quality, affordable rental and homeownership opportunities to meet local demand. “Throughout the pandemic, they have also been invaluable resources for our small businesses, especially those owned by people of color and serving disadvantaged communities,” said Kennealy. “The CITC Program enables CDCs to inTurco said the tax credit program is helping the Commonwealth address the critical need If Not, Please Call for a Free Consultation. 14 Proctor Avenue, Revere (781) 284-5657 To Do: Take a Vacation Replace Windows Pay Tuition for low- and moderate-income housing at a time when the cost of housing continues to dramatically rise. “We are thrilled to be one of the lucky 53 CDCs to benefit from the generosity of CITC donors invested in creating more aff ordable homes, well-paying jobs and more local leaders contributing to promoting equity and racial justice in their communities,” said Mares. “These partnerships have the greatest impact in local communities like Chelsea and Revere.” Done: Members Plus Home Equity Line 3.25% APR* No Closing Costs 12-Year Draw Use Your Home for The CASH You Need – Today! Apply FAST at memberspluscu.org MEDFORD NORWOOD DORCHESTER EVERETT PLYMOUTH *APR = Annual Percentage Rate. Rate subject to change without notice. Variable rate based on Prime Rate as published by the Wall Street Journal. As of August 15, 2021, the Prime Rate is 3.25%. 12-year draw, 8-year repayment. Best rate requires a new HELOC application, loan-to-value (LTV) of 80% or less and strong creditworthiness. Properties held in trust may require additional fees. Early termination fee of $400 applies for lines of credit closed within first 36 months. Requires property insurance. NMLS #472281
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