Transcript
When I think about how the affordable housing programs really work
and their intention, it’s all about economic mobility.
Allowing someone to own their own home, sets them up for success because they have an opportunity to leverage their home to do a lot of different things.
You can send your kids to college. You can start a small business. You have stability in a community, you know, that you’re living in. It’s the cornerstone of everybody’s success
at the end of the day.
Any chance we have to increase affordable housing is important to this community. The Federal Home Loan Bank makes it possible for us to offer advantageous interest rates and extra equity for these affordable housing projects.
We actually allocate a percentage of our earnings for the specific purpose of building affordable housing. We’re providing those members with these subsidies so they can meet the critical needs of the communities that they serve.
We all want to support our communities. The developers who are participating in these programs have a mission to support affordable housing in our communities,
and we’re proud to be part of that. Music playing
The Federal Home Loan Bank of Boston’s Affordable Housing Program is a very flexible and important program for Freeport over the years.
It really closed an important gap in our financing. We recently used it for Quarry Ridge.
I had an accident, a brain injury. My only income was my Social Security Disability.
I was really at a loss as to how I was going to manage. So, when I discovered this place and it was affordable,
I can remember coming in and not wanting to leave, not wanting to go out the door.
The work that we did at Quarry Ridge was a range of site improvements. Two of the apartments that we improved, we made fully accessible, and it has really helped the residents who live in those specific apartments
And then we were able to also freshen up a lot of bathrooms and improve the ventilation inside the apartments.
When I need a wheelchair, I can use it inside the apartment. This place is just delightful to me. It is clean, safe, quiet, convenient.
To see the looks on the tenants’ faces, or to see somebody get the keys to their first home, it makes you want to tear up, right?
Because you know that that person’s life is forever changed.
I see here people struggling, and trying to just hang on.
If you can just get those of us who have difficulties, just to have that little platform to work from, then it’s good for everybody.
