March
6
2009
STATE --- The John D. and Catherine T. MacArthur Foundation plans to award the state $4.5 million to preserve the long-term affordability of existing privately owned rental housing. The foundation will also target $3.5 million in program-related investments, or low-cost loans, to support a $150 million preservation loan fund to develop and acquire preservation projects. Governor Patrick's office stated that the money will "preserve affordable rental homes for an estimated 9,000 families, or more than 20 percent of the rental housing now at-risk of being lost."
