Through its Grants for New England Partnerships (GNP) program, the Federal Home Loan Bank of Boston awards grants to eligible member institutions for distribution to the nonprofit organizations of their choice. In many cases, the nominating member matches the Bank's grant.

For more information, contact Paulette Vass, Community Development advance manager, at 617-292-9792 or
paulette.vass@fhlbboston.com.

The 2010 Program
During 2010, any member who participates in the Community Development Advance (CDA) or FHLB Boston Economic Stimulus Advance (ESA) programs may be eligible to receive a $1,000 GNP award provided the application meets one of the following eligibility parameters:

1. First Time CDA User
Any member who submits and disburses a CDA application for the first time in 2010 (i.e. did not apply for a CDA in 2009); or

2. Financing Special Initiatives
Members submitting applications under the CDA or ESA programs that support the following initiatives:

• CDA Initiatives
  Provide lending opportunities that help keep home owners in their homes and assist in mitigating credit losses, preserving customer relationships, maintaining stable neighborhoods, and minimizing the detrimental impact vacant properties can have on crime and property values.

  To be eligible the application must incorporate one of the following components:

  • A refinancing or other lending program assisting home buyers facing foreclosure,
  • A lending program targeting foreclosed properties,
  • A specific project targeting a foreclosed property, or
  • A program or specific project targeting Neighborhood Stabilization Program (NSP)-designated areas that helps return foreclosed properties to the housing stock.
    
    
• ESA Initiatives
  Offer a product designed to promote and support lending and investment opportunities that stimulate the local economy.

  To be eligible the application must incorporate one of the following components:

  • Allow individuals or organizations to preserve foreclosed properties by providing bridge financing to initiatives receiving NSP funds;
    
  • Provide financing to projects, businesses, or organizations directly or indirectly receiving funding from either HERA or ARRA; or
    
  • Encourage economic growth, including the preservation or creation of jobs.

Our member institutions sponsored the following nonprofit organizations:

Allston Brighton Community Development Corporation

Androscoggin Habitat for Humanity

Brockton Interfaith Community

Dorchester House Multi-Service Center

Franklin County Community Development Corporation

Greater Holyoke YMCA

Haverhill Salvation Army

Jobs for Maine Graduates

Katie Brown Educational Program

Lorraine's Soup Kitchen & Pantry, Inc.

Mobius, Inc.

Our Neighbor's Table

Pawcatuck Neighborhood Center

Realty Endeavors for Affordable Community Housing (REACH)

Salvation Army Senior Center at Lower Village

TEAM, Inc.

Turning Points Network

United Way of Kennebec Valley (Heat Helpers' Fund)

United Way of Northwest Connecticut (on behalf of Northwestern CT YMCA only)

Westerly Area Rest Meals (W.A.R.M.)

York County Shelter Programs, Inc.