The John D. and Catherine T. MacArthur Foundation does more than just sponsor shows on 'BUR
By adamg on Thu, 02/26/2009 - 3:55pm
The foundation today announced it's committing $4.5 million to help preserve affordable housing in Massachusetts.
Part of the money will go to the Community Economic Development Assistance Corporation to coordinate federal and state aid for affordable-housing projects, and part will go into the Masschusetts Preservation Loan Fund, which will loan out money to developers who agree to keep their rents down for at least 30 years. The foundation sees preservation of existing housing stock as critical, because it costs a lot less than building new units.
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