News & Event
By Riley Sullivan
This brief explores the consequences of the abrupt closing of New England college and university campuses due to the spread of COVID-19. Extended campus closure may threaten the financial health of some New England schools and the communities that rely on them. In towns found to be most reliant on higher education, 45 percent of wages and 38 percent of jobs come directly from colleges and universities. This brief examines the number of cities and towns that are highly dependent on employment and commerce from institutions whose declining enrollments and low endowments make them particularly vulnerable during this period.
For more information, view the full brief on bostonfed.org
Courtesy of Federal Reserve Bank of Boston
Health Insurance and Essential Service Workers in New England: Who Lacks Access to Care for COVID-19?
Throughout the ongoing coronavirus pandemic, those deemed essential workers have remained on the job to serve their communities. Some have insurance coverage, some do not, but all face increased risk of contracting the virus and potentially spreading it to others. This new issue brief discusses the stark differences in health insurance coverage across the essential workforce in our region, including along racial and ethnic lines, and points to the importance of comprehensive coverage for all essential workers and their families.
Read the Brief
Dear Members, Sponsors, and Community Partners,
FHLBank Boston is hosting several training sessions and webinars for our Affordable Housing Program (AHP) during the months of April, May, June, and July in various locations. Registration links are included below. Make sure to register soon.
Our trainings offer valuable information to help developers and sponsors with their funding applications. We also have webinars focused on our member financial institutions’ role in the AHP.
The online AHP application will be available on our website from June 3 through July 25. Approximately $20.7 million is available through the AHP to support the production and preservation of affordable housing initiatives.
We look forward to seeing you. If you have any questions, please don’t hesitate to contact your community investment manager or me at 617-292-9668.
Thank you for your interest in the AHP.
Manager of Programs and Outreach
Housing and Community Investment
Rhode Island: April 30
New Hampshire: May 2 and June 6
Connecticut: May 9
Maine: May 14 and June 12
Massachusetts: June 4 and June 25
Vermont: June 13
Members’ Only Webinar: May 8
AHP Revolving Loan Fund Webinar: May 16
AHP Scoring Only Webinar: May 21, June 18, and July 2
AHP Feasibility Only Webinar: May 30, June 27, and July 9
Courtesy of Federal Home Loan Bank of Boston
By Barrett Ramsay- February 1, 2019 2:38 am
Renowned for its prestigious universities, historical significance and sports fanaticism, Boston seemingly has something to offer everyone – except maybe a place to live. According to a December report published by Zumper National Rent, Boston ranked as the third-most-expensive rental market in the country after San Francisco and New York City. The median cost to rent a one-bedroom apartment in Boston increased to $2,480 by the end of 2018.
While rent prices have increased exponentially over the past decade, the quality of the transit system in the Greater Boston area has improved very little. Despite Boston pouring $85 million into commuter rail in the most recent year, the most of any town or city in America, simply mentioning “green line” continues to incite a chorus of groans from Bostonians.
Aside from commuter rail, Massachusetts Bay Transportation Authority bus lanes have been adopted in the surrounding area and have had a significant impact on reducing commute times. This has since led to a dispute over who pays for the upkeep of the project. Funding for costs such as signs, road maintenance and paint to define bus lanes have become a point of controversy between the cities that own the roads and the state-run transit agency.
To read the complete article, visit Providence Business News
Courtesy of Providence Business News
Courtesy of USN
By GABRIELLE FALLETTA | Aug 18, 2017
EAST GREENWICH - Several Rhode Island towns are facing negative impacts after being notified in late July that many of the Community Development Block Grant (CDBG) applications for local programs and agencies will not receive the funding they typically see.
Locally, six social services programs applied for a total of $136,702 to fund several projects in the area, and after the meeting in late July, East Greenwich, along with many other towns across the state, were notified that none of their applications from the Plan Year 2016 will receive funding.
“Historically you’d ask for it, and you’d get something,” said Community Development Consortium Director Geoff Marchant. “You wouldn’t always get everything you asked for, but you got part of it, and now, nothing.”
To view the complete article, visit East Greenwich Pendulum
Courtesy of East Greenwich Pendulum
By Priyanka Dayal McCluskey Globe Staff,Updated August 6, 2019, 11:00 p.m.
Three big Boston teaching hospitals are launching an initiative to help families facing eviction, collectively acknowledging the strong connection between stable housing and good health.
Together, Boston Medical Center, Boston Children’s Hospital, and Brigham and Women’s Hospital plan to spend about $3 million over three years to fund housing programs through grants to community organizations. The first $1.5 million is slated for families struggling with unstable housing, including those behind on rent payments and at risk of eviction.
The initiative reflects the growing recognition in the health care industry that such issues as housing, education, and food play a critical role in a person’s health — and in health care costs.
BMC, Children’s, and the Brigham are all required to devote money to community initiatives as a condition of state approval for large construction projects underway at each of their campuses. All three hospitals decided to focus on housing.
“Housing is a significant challenge for lots of vulnerable populations in the city of Boston, and a lot of those vulnerable populations are our patients,” said Wanda McClain, vice president of community health and health equity at Brigham and Women’s.
“If you don’t have housing, it’s hard to focus on other things,” she said.
To view the complete article, visit The Boston Globe
Courtesy of The Boston Globe
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