SALEM — Today the Healey-Driscoll Administration is awarding $13.2 million of Community Investment Tax Credits (CITC) to 54 Community Development Corporations (CDCs) and Service Organizations (CSO) across Massachusetts. The Affordable Homes Act, signed into law by Governor Healey last summer, increased the CITC from $12 million to $15 million and created a permanent funding source for the CITC program.

Since its inception in 2012, the CITC program has been an integral source of funding for CDCs and CSOs to support programming that includes affordable housing development and preservation, community planning and economic development initiatives, homeownership assistance, financial education, foreclosure prevention and savings programs, and job training and job creation programs.

“Community Development Corporations are on the front lines of solving our housing and economic challenges, and this investment ensures they have the tools to keep doing that critical work,” said Governor Maura Healey. “This funding will be used by trusted community organizations to support housing development, help more families buy and stay in their homes and create new jobs.”

“With this expanded and permanent funding for the CITC program, we’re ensuring that every corner of the state has resources to build housing and drive economic development,” said Lieutenant Governor Kim Driscoll. “This is a smart, community-driven approach to building economic security and housing opportunities.”

“The CITC program empowers local organizations to build more housing, support working families, and drive economic growth across Massachusetts,” said Ed Augustus, Secretary of Housing and Livable Communities. “By expanding the CITC program, this Administration is doubling down on local innovation and long-term impact.”

The CITC Program offers a 50% refundable state tax credit that provides an incentive for donors to contribute funds to CDCs and CSOs. The program enables residents and stakeholders to work with CDCs and partner with nonprofit, public, and private entities to improve economic opportunities for low- and moderate-income households and other residents in urban, rural, and suburban communities across the state. CDCs accomplish this through adoption of Community Investment Plans (CIP) to undertake community development programs, policies and activities.

Read the full announcement here.