News & Event
Join PCF Development on November 29th at 11am for a short speaking ceremony followed by a tour of the first completed building in the Branch Blackstone development. This TOD property is within walking distance of the future Commuter Rail Station.
Posted Oct 11, 2017 at 12:01 AM
PROVIDENCE, R.I. — For families with household incomes below $50,000, the improving housing market in 2016 meant rising prices, and fewer homes and apartments they can afford to rent or buy, according to a new report from HousingWorks RI at Roger Williams University.
The report found that in 2016, only two communities, Central Falls and Providence (not counting the East Side) offered “homes for sale that fit a household budget of under $50,000.”
For renters, there was no municipality in the state where the average cost of a two-bedroom rental apartment was affordable on a household income of $30,934, the median income for Rhode Island renters.
Even for renters earning less than $50,000, there were just six communities where the average rent price was “affordable:” Central Falls, Cranston, East Providence, Pawtucket, Providence (without the East Side) and Woonsocket.
Housing is deemed “affordable” if housing costs consume no more than 30 percent of a household’s gross income.
“Simply put, Rhode Island needs more housing,” said Barbara Fields, executive director of Rhode Island Housing. “The real estate market is booming right now, and that means housing prices are rising — which puts pressure on families who are already struggling to get by. The good news is that we have already begun taking steps to increase production, and the $50 million housing bond that passed last year is a start.”
As the “affordability gap” grew, there was also a jump in the number of foreclosures last year. There were 1,561 foreclosure deeds issued in the Ocean State in 2016, an increase of 32 percent compared with 2015, according to the 2017 Housing Fact Book.
In addition, “Rhode Island’s rate of seriously delinquent loans is still among the highest in the United States, ranking ninth in the fourth quarter of 2016,” the report added.
The Fact Book, an annual report from HousingWorks RI, tracks affordability and other housing issues across the state. It was scheduled for release Wednesday at HousingWorks’ annual luncheon, which this year includes a morning panel discussion “offering an in-depth look at the numbers.” HousingWorks RI is a nonprofit research group that became part of Roger Williams University in 2014.
The Fact Book also tracked an increase in 2016 in building permits, which rose by 23 percent to 1,226 permits. But this level is still far below projected needs.
“As noted in the Projecting Future Housing Needs Report (2016), commissioned by Rhode Island Housing, over the next 10 years there is an anticipated need for more than 34,000 new homes,” the Fact Book added, and “demand is for more than 27,000 of those to be multifamily and able to serve households with incomes less than 80 percent of area median income ($40,400 to $68,000 for households of one to four across the state).”
But many communities still have far to go in reaching the state-mandated goal of having 10 percent of their housing stock be long-term, deed-restricted affordable housing, the report added. Just five communities have met the goal: Central Falls, Newport, New Shoreham, Providence and Woonsocket.
Communities with less than 3 percent include: Barrington (2.66), Charlestown (2.86), Exeter (2.36), Foster (2.05), Glocester (2.23), Little Compton (0.56 percent), Portsmouth (2.83), Richmond (1.89), Scituate (0.85), and West Greenwich (1.41). However, statewide, the average is up to 8.29 percent.
Rhode Island continues to have an exceptionally low homeownership rate, particularly for communities of color.
“At 60 percent, Rhode Island has the lowest rate of homeownership among the six New England states, and ranks 46th nationally,” the report added. “Across race and ethnicity, homeownership rates in Rhode Island show great disparity. White residents have a homeownership rate of 65 percent, while Latino, Black and Asian household rates are 28 percent, 31 percent and 50 percent, respectively.”
On Twitter: @ChristineMDunn
R.I. housing costs, 2016
Median house price: $239,900
Income needed to afford this: $68,065
Average two-bedroom rent: $1,288
Income needed to afford this: $51,520
SOURCE: 2017 HOUSING FACT BOOK
Courtesy of Providence Journal
Career changers are common in today’s workforce. Those switching industries bring broad perspectives and fresh skill sets to new fields but can make the modern-day corporate ladder look more like a winding road at times.
But Jeanne Cola is lucky enough to have found her lifelong career at her very first job, at Citizens Bank. She started work there as a student, was exposed to all areas of banking through training and stayed for 25 years, learning how to create mortgage products for clients with low incomes along the way.
“I only left as the opportunity with LISC [Rhode Island Local Initiatives Support Corp.] would allow me more influence,” said Cola, who has been executive director of the organization, which helps get affordable housing and other projects off the ground within the state’s most distressed neighborhoods, for six years. “It was about moving into corporate banking, only from a community perspective. I could be deeply engaged in change for residents and create opportunities to make their lives better.”
A community-development financial institution, LISC opened its Rhode Island office in 1991. Its goal is to build healthy neighborhoods by linking local leaders and organizations with resources to improve the quality of life. With a national corporation behind it, Rhode Island LISC is able to open up access to resources residents wouldn’t otherwise have – including public and private funding in the form of loans, grants and equity investments – for local projects.
“Those first dollars that come in allow millions to flow in after,” said Cola. “That is what really influences that change. That’s where, in my opinion, you see the real influence of LISC due to its impact in the early stages, with early investments. But we have to operate in a fiscally responsible way to have more dollars to lend out.”
Beautiful Beginnings Child Care Center in Providence, which serves households with low incomes, is an LISC project. Cola’s group first assisted in making the space appropriate for child care with its Child Care Facilities Fund, adding in grant money, a loan to refinance the state-licensed facility’s mortgage at a lower rate, assisted in a renovation for program expansion and refinancing with more favorable terms. According to its website, LISC has invested more than $850,000 at Beautiful Beginnings, which serves more than 100 children and their families with Early Head Start and other learning initiatives.
“Our goal is to provide what they need where a bank might not be able to,” said Cola. “So, we can be a catalytic influence.”
Problem-solving is a big part of Cola’s role at LISC, along with her team. She is tasked with finding creative solutions. Sometimes this means careful consideration of an end user’s individual situation and adopting a different approach than originally planned. But due to LISC’s unique business model, she always has the flexibility needed to make those decisions on a case-by-case basis.
“If there is a project that will advance the LISC mission, then Jeanne will move mountains to get it done,” said Joseph Silva, senior vice president of commercial lending at Pawtucket Credit Union and chair of the LISC Local Advisory Committee.
Finding those new ways to accomplish things was a skill Cola had practiced regularly in banking. But in areas of relationship-building and fundraising, the nonprofit world took a bit of adjustment on her part.
She had strong external community relationships from her former position, connections that were honed for more than two decades. Those collaborations continued when she came to LISC, but forging new, internal relationships within LISC took time, she said. Reporting to and getting to know members of the LISC Local Advisory Committee and how they all worked together was more uncharted territory. Then, when it came to fundraising, she had to learn fast. “A funder relationship is different. Now [at LISC], I was the fundee.” But Cola saw the investment in relationships and advisory-committee collaborations not as challenges, but as opportunities to grow as a leader.
Central Falls Neighborhood Health Station is one of LISC’s latest collaborations.
Blackstone Valley Community Health Care is building a $14.5 million, 47,000-square-foot health center that will create more than 80 permanent jobs and serve up to 84 percent of Central Falls residents. LISC, recognizing the value in the center reducing health disparities, is financing $12.56 million via its Healthy Futures Fund, which offers better terms and rates than traditional financing.
Cola will continue to help every community in Rhode Island have choices in opportunities, actively searching out partners to make that happen, supporting nonprofits and their leaders who are on the front lines. She noted that the state needs 3,400 new housing units annually over the next 10 years, according to Rhode Island Housing Authority, to remedy the housing crisis here. She wants folks to know that transformations take time, and that LISC sees its work not as stand-alone transactions, but as vibrant transformations.
“I love my job,” said Cola. “I don’t know if you can tell.”
Courtesy of Providence Business News
Wednesday, November 1, 2017
2200 Southwood Drive, Nashua, NH
We invite you to be a part of the second New England Lead Conference taking place on Wednesday, November 1, 2017 in Nashua, NH. Hosted by the New England Lead Coordinating Committee, the conference will include a variety of educational sessions focusing on lead prevention, policy, model programs, outreach, the EPA’s Renovation, Remodeling and Repair Rule (RRP), lead abatement, compliance, and the economics of lead poisoning.
Read more >
October 4, 2017 in Events, Local Interest
The Narragansett Times: Dziobek steps down as Welcome House director
By KENDRA GRAVELLE Sep 29, 2017
SOUTH KINGSTOWN—When Joseph Dziobek accepted the position of executive director of Welcome House of South County nearly three years ago, he had expected the job would make for a simple transition into retirement.
But what was intended as a part-time gig turned into much more than that for Dziobek, who this week left his post.
“It’s been a challenge,” said Dziobek, whose last day on the job was Monday. “And it’s been very satisfying—I feel very close to the people who have been a part of it.”
Dziobek, 66, took the job at Welcome House after retiring from his career as CEO of Fellowship Health Resources. He said he intended only to stay for two or three years.
October 4, 2017 in Local Interest
Final Days to Register: 2017 Housing Fact Book Release
Date: Wednesday, October 11, 2017
Luncheon: 12:00pm - 1:30pm
Location: Rhode Island Convention Center, 1 Sabin Street, Providence RI
October 3, 2017 in Events, Local Interest
Rhode Island College: The Defamation Experience
Monday, October 30, 2017
5:00PM - Doors Open
6:00PM - Performance
SPONSORED BY: THE DIVISION OF COMMUNITY EQUITY AND DIVERSITY AND THE DIVISION OF STUDENT SUCCESS
THE PLAY * THE DELIBERATION * THE DISCUSSION
September 27, 2017 in Events, Local Interest
NLIHC: Sign Letters to Support Equitable Housing Recovery after Devastating Hurricanes
Help ensure that low income people and neighborhoods are treated fairly after Hurricanes Harvey, Irma, and Maria. A broad coalition of national, state, and local organizations is calling on Congress, FEMA, and HUD to ensure that the federal response to Hurricanes Harvey, Irma, and Maria is complete and equitable for everyone, especially families and individuals with the lowest incomes who are often the hardest hit by disasters and have the fewest resources to recover afterwards.
September 27, 2017 in Local Interest, National News
Roger Williams University: Social Justice Month Events
Thursday, Oct 19
Mary Tefft White Center
How Housing Works
4:00pm – 6:00pm
Sponsored by Housing Works RI and RWU Chief Diversity Officer
Keywords: socioeconomic status, race, jobs, housing, equity
Workshop with Brenda Clement, Director of Housing Works Rhode Island and Ame Lambert, RWU Chief Diversity Officer.
An overview of housing issues in Rhode Island and connections to the larger social justice agenda.
September 25, 2017 in Local Interest
Providence Journal: People on the move for the week of Sept. 17
Posted Sep 13, 2017 at 5:34 PM
Updated Sep 13, 2017 at 5:34 PM
Rhode Island LISC
Rhode Island Local Initiatives Support Corportation has welcomed two new employees. Jeremiah O’Grady, of Lincoln, joined LISC as program officer after spending more than 12 years at ONE Neighborhood Builders as real estate project manager and director of asset management and operations.
Liz Klinkenberg, of Warwick, was hired as communications director. She brings more than 15 years of public relations experience to her new position, including work for The Miami Herald and The Providence Journal.
The Providence American: Reed Announces $300k in Community Development Grants for NeighborWorks Affiliates
WASHINGTON, DC – In an effort to promote healthy, vibrant neighborhoods across Rhode Island, U.S. Senator Jack Reed today announced an additional $300,000 in federal funding for three Rhode Island-based affiliates of NeighborWorks America (NeighborWorks). These federal funds will help NeighborWorks Blackstone River Valley, ONE Neighborhood Builders, and West Elmwood Housing Development Corporation to provide affordable housing opportunities, generate job growth, and enhance economic stability for working families. Earlier this year, Senator Reed also helped to secure over $750,000 in federal funding for NeighborWorks affiliates in Rhode Island, bringing total NeighborWorks investment in the state to above $1 million for fiscal year 2017.
September 21, 2017 in Federal News, Local Interest
The Providence American: Providence Unveils PVD Gives Donation Station
PROVIDENCE, RI – Mayor Jorge O. Elorza today joined members of the City Council, public safety officials, and community leaders who have been named to the PVD Gives commission for the unveiling of the City’s first Donation Station at Kennedy Plaza. The retrofitted parking meter is one of ten stations that will be installed across the city to collect funds that will support local organizations that provide housing and services to those in need.
“PVD Gives and the new Donation Stations make it easier to give back,” said Mayor Jorge Elorza. “Our collective generosity can make all the difference in the lives of those striving to get back on their feet. I encourage visitors and residents to chip in and be part of the solution.”
September 21, 2017 in Local Interest
Providence Journal: Report: New England losing 65 acres of forestland per day
By Steve LeBlanc / Associated Press
Posted Sep 19, 2017 at 11:21 AM
Updated Sep 19, 2017 at 11:21 AM
BOSTON — New England has been losing forestland to development at a rate of 65 acres per day — a loss that comes at a time when public funding for preservation of open land, both state and federal, has also been on the decline in all six states.
That’s the conclusion of a report released Tuesday by the Harvard Forest, a research institute of Harvard University.
The study found public funding for land conservation in New England dropped by half between 2008 and 2014 to $62 million per year, slightly lower than 2004 levels.
Last month, a bill that would cap the proportion of registered sex offenders in homeless shelter beds at 10 percent for shelters whose capacity exceeds 50 people passed in the Rhode Island State House. A coalition of activists are now asking via petition that Gov. Gina Raimondo veto the bill, arguing that the legislation is “against the public interest.”
The bill passed the state Senate in June after the Senate Judiciary Committee recommended it for passage. The bill was passed in concurrence by the Rhode Island House of Representatives Sept. 19, and the veto petition was sent to Raimondo Sept. 26.
Seven individuals, including several directors of homeless shelters and non-profits, co-signed the petition to the governor. Forty to 50 individuals will be displaced if the bill is passed, which would create a public safety concern both for the displaced individuals, as well as the larger community, according to the petition. If passed, the bill would take effect Jan. 1, 2018, and the petitioners note that this would leave people homeless in the dead of winter. This would also increase risks of recidivism, petitioners say.
Perceptions of the bill are sharply polarized, and while detractors argue that the legislation jeopardizes public safety, supporters say the bill actually defends it.
State Sen. Frank Lombardi, D-Cranston, is a co-sponsor of the bill and introduced it alongside State Sen. Hanna Gallo, D-Cranston. Cranston is the location of Rhode Island’s largest homeless shelter, Harrington Hall. Harrington has 112 beds which are open to single men. “Harrington Hall has the highest number per capita of registered sex offenders transported there at any given time in the state of Rhode Island,” Lombardi said. This disproportionate concentration of sex offenders in a single neighborhood was the impetus for the bill especially because “the residence hall surrounds at least three elementary schools,” he said.
The question of appropriate maintenance of distance between schools and sex offenders is no new issue in Rhode Island. Convicted sex offenders have been restricted from living closer than 300 feet from any school property since 2008, The Providence Journal reported. In June 2015, the General Assembly expanded this to 1,000 feet for Level III sex offenders — those most likely to re-offend. This law placed 64 percent of Providence off-limits to these registered sex offenders, according to the Journal. In October 2015, the lawsuit Freitas et al. v. Kilmartin was filed challenging the law’s constitutionality as violating due process; after the case was filed, a judge placed a restraining order on the law, effective to this day and as long as the case remains unresolved.
“It’s very sad that we have a significant population of people who are required to register as sex offenders that have no place to live but Harrington Hall,” said Andrew Horwitz, petitioner and assistant dean for experiential education at Roger Williams University. Although the 1,000-foot rule is not in effect, the critics of this bill say that sex offenders do not have options other than Harrington Hall because of policies in other shelters and the 300-foot restriction. “We’ve got such incredible restrictions on where registered sex offenders are allowed to live that pretty much any place in Rhode Island that has affordable housing is off-limits for somebody who is a registered sex offender,” Horwitz added.
Concerning the safety of the public, “what reduces recidivism is stability,” Horwitz said. “When you render somebody homeless” by limiting the number of beds available to them in shelters, “you destabilize them,” he said.
One of the “public safety” concerns in Lombardi’s district is cases of sex offenders being dropped off at the shelter and loitering if no beds were available. He characterized the bill as an “incentive to have all of these homeless shelters share — not overburden Harrington Hall only with registered sex offenders.”
Lombardi had not heard about the petition but was not surprised to learn there was one; “there was a very vibrant debate” in the Senate, he recalled, “given the polarizing issues involved; on one side the issue of public safety and on the other side is the issue of homelessness.” Though he supports the bill, Lombardi recognizes more progress is needed to be made toward finding permanent solutions to homelessness, including for sex offenders. “We need the judiciary, we need law enforcement, we need the public housing folks,” he said.
The petition proposes an alternative path from the bill: a “study commission” that would devote time and resources to considering viable options for housing for registered sex offenders, which could inform future legislation. It also suggests potential amendments to the bill, such as changing the date it would take effect and limiting its applicability to Level III Sex offenders.
Horwitz himself is in favor of building more homeless shelters and having a more decentralized homeless system to relieve Harrington and the neighborhood; but fundamentally he said he views shelters themselves as only rudimentary solutions to homelessness. He would prefer legislation creating more affordable housing and repealing “irrational” housing restrictions to address Harrington’s predicament.
The main plaintiff in Freitas et al. v. Kilmartin, John Freitas, was a Level III sex offender. Barbara Freitas, director of the Rhode Island Homeless Advocacy Project and formerly homeless herself, is his widow. She was another of the seven signatories of the petition.
Freitas echoed Horwitz’s concerns. The bill’s “attempt to keep the public safe is failing miserably, because they will end up in the street,” she said. Freitas explained that sex offenders are at least accounted for in a homeless shelter due to the requirement to register. This means that “public safety” is better served by keeping homeless shelters’ numbers of sex offenders uncapped for community members and visitors alike.
Freitas does not expect Raimondo to heed the petition. Freitas says she was part of a previous attempt to convince Raimondo to veto the 300-foot rule, without success. “Nobody wants to have the veto go through about sex offenders. That’s a sure way to have yourself not get elected,” Freitas said.
If the governor were to veto the bill, there would be no effort by the legislative branch to override the veto, according to Lombardi. The bill was transmitted to the governor Oct. 3. She is required to sign or veto legislation within six days of transmittal. The bill is “currently under consideration for action in the coming days,” according to the governor’s press office.
Correction: Due to an editing error, a previous version of this article stated that the bill was passed in the State Senate in May, In fact, it was passed in the State Senate in June. A previous version also contained an incorrect titled for Andrew Horwitz, petitioner and assistant dean for experiential education at Roger Williams University. The Herald regrets the error.
Courtesy of The Brown Daily Herald
By Mary MacDonald -October 11, 2017 6:15 am
PROVIDENCE – More than one-in-three households in Rhode Island with a mortgaged property are housing cost-burdened, and the rate rises to one-in-two for renters, according to research by HousingWorks RI at Roger Williams University.
The 2017 Housing Fact Book, released Wednesday, shows that the real estate gains in value seen over the past two years are also impacting housing affordability, as a tightening market drives prices upward.
The number of towns and cities in Rhode Island that are affordable to buyers or renters whose incomes fall below $50,000 has dropped from previous years. Only two communities – Providence excluding the East Side and Central Falls – offer homes for sale that fit a household income under $50,000.
Even at higher income levels – those exceeding the Rhode Island household median – homebuyers have seen the number of municipalities shrink where they can reasonably expect to find available stock.
The homebuyers with a median income of $70,000 have 12 communities in which the median household cost is affordable, defined as having housing costs, including utilities, being less than 30 percent of income.
Renters are having an increasingly difficult time, as well. Households earning $50,000 or less could afford rent in only six towns or cities in the state. Households earning $30,000 or less could not afford a two-bedroom apartment in any city or town.
The implications of the housing costs reach into education, food security and the greater economic activity of the state, according to Brenda Clement, director of HousingWorks RI at Roger Williams University.
By spending so much money on housing, a basic need, households that are financially burdened cannot afford to spend money on other needs.
The burden in Rhode Island has economic implications as well, she said, in an interview. It makes finding housing a challenge for many employees.
“You also add costs if people have to have longer commutes and live further and further out. It makes it challenging to attract workers and to retain workers if housing costs are not affordable,” she said.
Mary MacDonald is a staff writer for the PBN. Contact her at email@example.com. Follow on Twitter at MaryF_MacDonald.
Courtesy of Providence Business News
Boston– October 30, 2017 – Santander US CEO Scott Powell today announced Santander’s “Inclusive Communities” plan, Santander Bank’s new $11 billion, agreement with the National Community Reinvestment Coalition (NCRC) to increase lending, community development, and charitable giving. The plan outlines Santander’s commitment to communities across its eight-state northeastern U.S. footprint for 2017 through 2021, during which time Santander will increase its Community Reinvestment Act (CRA) activity by 50 percent and triple its investment in charitable grants.
Over the next five years, Santander will provide:
- $4.2 billion in residential mortgage loans for low- to moderate income families
- $1.9 billion in small business lending
- $3 billion in community development lending
“This plan is the foundation of Santander’s approach to supporting the communities where we live and work,” said Powell, CEO of Santander US, the Bank’s U.S. holding company. “We recognize that Santander’s success is directly linked to the prosperity of our communities’ families, businesses and neighborhoods. By increasing lending, investments and financial education opportunities, we hope to boost the long-term economic success of low- and moderate-income individuals and neighborhoods.”
Powell announced “Inclusive Communities” at a meeting this morning in downtown Boston where he was joined by officials from the City of Boston, other public officials, and National Community Reinvestment Coalition (NCRC) President and CEO John Taylor.
"This is a good day for people in New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware and my home state of Massachusetts,” said John Taylor, NCRC President and CEO. I want to applaud Santander for committing 11 billion in investments for underserved neighborhoods over the next five years. Santander’s leadership showed a special dedication to working with community leaders and better understanding the credit needs in the areas they serve. We are very pleased that this commitment, and especially the 10 new bank branches, will help individuals build wealth and neighborhoods build their economies."
“Inclusive Communities” was developed with significant input from and collaboration with more than 100 community-based organizations throughout the Bank’s footprint. Supported and facilitated by the NCRC, an extensive ten-month long process helped identify emerging community needs and strategies aimed at addressing the challenges faced by underserved communities in Santander’s key markets.
Read a in depth summary of Santander's "Inclusive Communities" agreement here
In addition to the Bank’s financial commitments, Santander is establishing a national Community Advisory Board (CAB) comprising representatives of not-for-profit community development organizations and financial inclusion advocates, as well as community development policy organizations, and representatives of local or state economic development or housing agencies. Members of the CAB are:
The Bank is also establishing statewide/regional advisory boards in its footprint to ensure ongoing community input and will be enhancing its current Community Development and CRA teams with the addition of 17 new positions in the coming years.
Local leaders applaud the agreement:
"ANHD applauds Santander for creating this new CRA plan. They listened to over 100 community based organizations to create a plan that is reflective of community needs throughout the bank's footprint, including New York City. We also appreciate the creation of national and regional community advisory boards, which put the structure in place to implement, monitor, and adjust the plan to ensure it has the greatest impact. We look forward to working with the bank to put this plan into action,” Benjamin Dulchin, Executive Director, Association for Neighborhood and Housing Development.
“New Jersey Citizen Action has had a longtime partnership with Santander Bank and its predecessor, Sovereign Bank. The bank's $11 billion commitment in mortgages, small business loans and community development lending will provide loans, access to capital and affordable housing for thousands of New Jerseyeans. I look forward to serving on the bank's National Community Advisory Board and working with Santander to ensuring that these dollars are reinvested in our communities,” Phyllis Salowe-Kaye, Executive Director, New Jersey Citizen Action.
“The effort behind this plan will ensure that those who live and operate businesses in developing neighborhoods can benefit, including immigrants and communities of color,” John Chin, Executive Director, Philadelphia Chinatown Development Corporation.
“As a leading Center for Independent Living for People with Disabilities in the greater Philadelphia Area, we applaud Santander's commitment to the community and our desire to increase affordable and accessible housing opportunities for the many Seniors and People with Disabilities who we serve throughout the region,” Thomas H. Earle, Esquire, Chief Executive Officer, Liberty Resources, Inc.
"Santander has had a long and impactful presence in the Greater Reading community. We look forward to continue working with Santander Bank and its team members in implementing this comprehensive plan, particularly in downtown Reading, where they have a large workforce and occupy almost 1/4 million sf of office space, in addition to having its name on the Santander Arena & the Santander Performing Arts Center," Edward Swoyer, President, Greater Berks Development Fund.
“This is an exciting and groundbreaking agreement that will improve our communities and transform lives. It demonstrates that banks and the communities they serve can thrive together when they work together. We congratulate Santander, NCRC, and the dozens of community based groups who worked so hard to make this happen,” Joseph Kriesberg, President & CEO, Mass. Association of Community Development Corporations.
“We believe this agreement with Santander Bank will go a long way in helping LMI communities in Waterbury CT. It provides a framework and capital for the hard-working people of the Northend section of town to rebuild a vibrant community,” Pastor Rodney Wade, President, Concerned Black Clergy Council of Waterbury.
“The Community Reinvestment Act is an important tool that empowers people in many ways. For example, the act can be used to conduct community development. As far as I am concerned, it protects LMI communities from senseless crime and violence,” Angela Mciver, Chief Executive Officer, Fair Husing Rights Center in Southeastern Pensylvania.
“This was a unique opportunity to work with fellow community organizations to determine priority needs and where we want Santander to direct their resources to help address those needs. It was also an opportunity for Santander to gain a better understanding of their community responsibility and measures needed to implement in the future. Represented organizations put a great deal of time and care into this process to ensure fairness and optimize outcomes for the communities we serve,” Majeedah Rashid, Chief Operating Officer, Nicetown Community Development Corporation.
"MAHA looks forward to continuing our partnership with Santander in reaching low- and moderate-income first-time homebuyers as we both seek to close the large racial wealth gap in Massachusetts", Symone Crawford, board president, Massachusetts Affordable Housing Alliance.
"Obviously, Home Ownership is the foundation upon which strong, thriving communities are based. We welcome the proactive steps being taken by Santander and we look forward to many years of success. Together, we can be the change that our communities need - one house at a time, one block at a time, one neighborhood at a time..." Stephen T. Gieringer, Executive Director, Neighborhood Housing Services of Greater Berks, Inc.
Partners in the Community Benefits Agreement:
Santander Bank, N.A. is one of the country’s largest retail and commercial banks with more than $79 billion in assets. With its corporate offices in Boston, the Bank’s 9,700 employees, more than 650 branches, 2,100 ATMs and 2.1 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) - one of the most respected banking groups in the world with more than 125 million customers in the U.S., Europe, and Latin America. It is managed by Santander Holdings USA, Inc., Banco Santander’s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com.
Santander Holdings USA, Inc. (SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), one of the most respected banking groups in the world with more than 125 million customers in the U.K., Europe, Latin America and the U.S. As the intermediate holding company for Santander’s U.S. businesses, SHUSA includes six financial companies with more than 17,500 employees, 5.2 million customers and assets of over $135 billion. These include Santander Bank, N.A., one of the country’s largest retail and commercial banks by deposits; Santander ConsumerUSA Holdings, Inc. (NYSE: SC), an auto finance and consumer lending company; Banco Santander International of Miami; Banco Santander Puerto Rico;Santander Securities LLC of Boston; and Santander Investment Securities Inc. of New York.
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