On November 25, the members of the Racial Wealth Gap Partnership were joined by Massachusetts state officials including Gov. Maura Healey, Lt. Gov. Kim Driscoll and Housing and Livable Communities Secretary Ed Augustus for the launch of the first major program made possible by the Partnership's support: the ONE+ Mortgage Program.
Operated by the Massachusetts Housing Partnership with the support of the Boston Foundation, Eastern Bank, the Eastern Bank Foundation and the State Street Foundation, the new program will provide up to $50,000 in down payment and mortgage assistance to low- and moderate-income homebuyers in 29 communities.
The program is being launched with more than $11 million in public and philanthropic capital, including more than $7 million from members of the Wealth Gap Partnership.
In a kickoff event hosted by Lynn Mayor Jared Nicholson at the Lynn Housing Authority, more than 100 people listened as leaders thanked the Partnership members for their work and support to date. Boston Foundation President and CEO Lee Pelton made it clear there was more work being done, setting a $25 million fundraising goal for the Partnership to support homebuying programs as a means for closing wealth gaps and generating intergenerational wealth. The $25 million, he noted, was "a floor and not a ceiling" for fundraising.
To learn more about the ONE+ program, visit the Massachusetts Housing Partnership website.
Click here to read the media announcement and read more coverage of the event on the News and Events page.
More photos and video to come!
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