March 18, 2009

$54 Million Neighborhood Stabilization Program

Yup, that is how much is coming to Massachusetts--54,000,000 million. Check out story, click here . Here is how it works:

  • Citizens’ Housing and Planning Association (CHAPA), a non-profit affordable housing organization will connect banks that own foreclosed properties with local non-profit organizations, which will purchase the properties and upgrade the homes for low-and moderate-income families.

There you go "low to and moderate income" families. Lets say there is a young professional company who are making $100,000 per year, who like the vibe on Chandler Street and want to live next to Paul and they want to buy one of these properties from the local non-profit. They will not be able buy the property since they are not "low to moderate income".

Trying to get away from the topic, but it keeps coming back. Click here for another story.


Paulie's Point of View said...

why do this Wild Will when we can reward property owners like the ones who own 224 Chandler Street & 8-10 Winfield Street???

Bill Randell said...


Before I understood how any of this worked, I had no problem when I read about "low to mod income" requirement.

Now that I understand how this work, it should really be "no non-low to mod income" people can apply.

Does this make sense?

Isn't these the exact people that we are trying to attract to Worcester?