On October 7, 2009, Richard J. Gavegnano, Chairman and CEO of East Boston Savings Bank wrote to MAHA stating that “You have my assurance that when the merger of our two institutions is finalized, East Boston Savings intends to participate in the SoftSecond program similar to Mt. Washington Cooperative Bank.”
On a day that featured much speculation in the media about how Boston would attract Amazon to the city, 120 Boston residents packed into a community room at Frankln Park in Dorchester last night to discuss a community-centered process to spend $20 million per year on affordable housing, parks, and historic preservation.
Come “shopping” with us tonight. How would YOU spend $20 million on homes, parks and preservation? Last November, Boston residents voted overwhelingly to pass the Community Preservation Act in a campaign led by Yes for a Better Boston and MAHA. Now, the city prepares to spend $20 million on affordable housing, parks, and historic preservation. But first, a committee of nine Boston residents will be appointed to recommend CPA spending. And you can apply from now through November 9th to be on that committee. Join us on October 19th at the Franklin Park clubhouse from 6-7:30pm and learn more about how to apply and offer your suggestions about how to spend the dollars in your neighborhood.
In historic Faneuil Hall on August 2nd, Boston's City Council unanimously passed an ordinance creating a committee to recommend proposed investments, nine months after voters approved the Community Preservation Act (CPA) by a nearly 3 to 1 margin.
New MAHA Report on 2016 CRA Ratings Released; Quicken Loans Still Without A CRA Rating
January 23, 2017 - Of the 50 Community Reinvestment Act ratings awarded to Massachusetts banks during 2016, only 10% were “Outstanding", according to a report issued today by the Massachusetts Affordable Housing Alliance (MAHA). It is notable that all five of the “Outstanding” ratings were among the seven total ratings awarded by the OCC; not a single “Outstanding” rating was awarded by the FDIC, the Fed, or the state. For federal regulators, the “Outstanding” share was 16.7% (5 of 30 ratings); for the state, the “Outstanding” share was 0.0% (0 of 20).