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OLD SAYBROOK, CT— The Liberty Bank Foundation has awarded a $5,000 grant to HOPE Partnership, Inc. to support their affordable housing Education and Advocacy Project.
“Affordable housing is in critical need in southern Middlesex County area, and HOPE is a big advocate for changing that.” said Chandler Howard, President and CEO of Liberty Bank.
Lauren Ashe, Executive Director of HOPE Partnership added, ”HOPE is committed to serving our community and improving housing options for all our residents. The support we receive from the Liberty Bank Foundation is vital in our efforts to provide quality, safe and affordable housing in Southern Middlesex County and the surrounding towns. We are fortunate and grateful to have the support and partnership of Liberty Bank Foundation as we strive to reach our goals.”
Since its inception in 1997, the Liberty Bank Foundation has awarded over $8.7 million in grants to nonprofit organizations within Liberty Bank’s market area. The foundation seeks to improve the quality of life for people of low or moderate income by investing in three areas: education to promote economic success for children and families; affordable housing; and nonprofit capacity building. Along with its grantmaking, the foundation strives to foster the convening and collaboration of nonprofits, funders, business, and government to address community issues.
HOPE Partnership was founded in April 2004 as a nonprofit developer of affordable housing in southern Middlesex County. HOPE’s purpose is to advocate for and create high-quality rental housing targeted to people earning between 50% and 80% of the local median income. Once the housing is built and occupied, HOPE will provide services to tenants to help them manage their finances and work toward homeownership.
Established in 1825, Liberty Bank is Connecticut’s oldest mutual bank, with more than $3.9 billion in assets and 48 banking offices throughout the central, eastern, and shoreline areas of the state. As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Named as a “Top Workplace” by the Hartford Courant for four consecutive years, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.
The Connecticut Housing Coalition, with support from The Connecticut Department of Housing, Citi Community Development Foundation and the Melville Charitable Trust, announces the launch of its first Connecticut Affordable Housing Academy. Ten (10) applicants from around the state have been accepted to participate in this first round.
Connecticut’s newly-created Department of Housing will be releasing approximately $157 million in funds for affordable housing construction and rehabilitation over the next year. To be eligible to receive DOH funds, projects must demonstrate effective deal structuring, project readiness and sustainability.
The objective of the Academy is to expand project capacity and create a pipeline of housing development and revitalization projects that meet the state’s goals for these funds. The Academy will provide affordable housing development teams with the opportunity to receive customized training, technical assistance and predevelopment funding for high-quality housing options for low- and moderate-income residents in Connecticut. Training will be provided by expert consultants experienced in the development of affordable housing and will include trainers from the National Development Council, nationally recognized educators in the field.
“The Academy is designed to work with a wide variety of project types, including senior housing, mixed-income rental, preservation of existing units, supportive housing and public housing modernization,” said Betsy Crum, Executive Director of the Connecticut Housing Coalition and developer of the Academy. Projects that have been accepted represent a number of property types and sizes.
Developers accepted for Fall 2013 include:
For Immediate Release: October 22, 2012
Contact: Robin McShane, Development Director 860-388-9513
HOPE Partnership Receives $10,000 Grant from New Alliance Bank
HOPE Partnership, a non-profit organization dedicated to developing affordable workforce housing opportunities in Southern Middlesex County was recently awarded a $10,000 grant from the New Alliance Foundation to continue their work in Old Saybrook and to expand into the towns of Clinton and Westbrook. HOPE was established in 2003 with the support of the Middlesex County United Way to address the shortage of affordable workforce housing in our area by finding housing solutions for low-income people who suffer disproportionately from the housing crisis. HOPE’s philosophy is to collaborate with town government, builders, and other private partners to build housing that is attractive, sustainable and appropriate to the surrounding neighborhood. The most recent example of HOPE’s work is the Ferry Crossing development located at 45 Ferry Road in Old Saybrook. Upon the completion of Ferry Crossing’s sixteen rental homes, the development was fully leased with a significant waiting list. HOPE Partnership recently received the Community Impact Award from the Middlesex United Way and the Collective Impact Award from the CT Housing Coalition for HOPE’s Ferry Crossing project.
Since April 1, 2004, when New Alliance Foundation was first established, the organization has distributed over $15 million in support of Connecticut and Western Massachusetts non-profit communities. Programs in the areas of health and human services, the arts, education and community development have received funding from the Foundation.
For Immediate Release: April 27, 2011
Contact: Robin McShane, HOPE Partnership
HOPE Partnership Establishes Advisory Council
At a meeting on April 26th, the Board of Directors of HOPE Partnership appointed 20 key community leaders to its newly established Advisory Council. HOPE Partnership is a 501(c)(3) nonprofit organization that collaborates with government, builders, the religious communities, civic organizations and individuals to create affordable housing options in Connecticut shoreline communities.
The purpose of the HOPE Advisory Council is to provide the organization with a group of respected and influential shoreline community residents that can be a source of support, opinions and advice for HOPE’s Board of Directors and executive management. Advisory Council members appointed included Noel Bishop, First Selectman, Town of Westbrook; Kara Brewster of Westport Capital Markets, LLC; Patricia Charles, Superintendant of Schools for the Town of Westbrook; Herb Clark III, principal in the Clark Group; James Crawford, State Representative for the 35th District; Linda Drohan, first resident of a HOPE Partnership home; John Duhig, retired former President and CEO of Fortune Plastics; Ian Featherstone, General Manager of Fortune Plastics; Maria Foss Rand, owner, Avia Counseling Center; Willie Fritz, First Selectman, Town of Clinton; Lenny Goldberg, co-owner of Lenny & Joe’s Fish Tale in Westbrook and Madison; Chandler Howard, President & CEO of Liberty Bank; Isabel Jackson, Vice President & CFO of The Essex Group; James Jackson, President & CEO of The Essex Group; Margaret Livingston, President & CEO of Guilford Savings Bank; Brian O’Connor, former State Representative for the 35th District and Director of Environment, Land Use & Energy for the Middlesex Chamber of Commerce; Mike Pace, First Selectman, Town of Old Saybrook; Brian Parri of Killingworth; Greg Shook, President & CEO of Essex Savings Bank; and Kevin Wilhelm, Executive Director of the Middlesex United Way. HOPE Partnership, established in 2007, has made great stridesin addressing the challenges of workforce housing in Southern Middlesex County. The organization purchased two condominium units and resold one to become the first affordable homeownership unit ever created in Old Saybrook. And, most significantly, HOPE secured all approvals and all financing needed to begin construction of a 16-unit development on Ferry Road in Old Saybrook called Ferry Crossing, the very first housing project to be built under the HOMEConnecticut program. Construction of Ferry Crossing is expected to begin in June.
Those wishing to support Hope Partnership can purchase tickets to its second annual Farm Dinner Fundraiser, online at www.hopepartnership-oldsaybrook.org. This popular event, catered by River Tavern, sold out in 2010 and will take place this year on August 21st at White Gate Farm in East Lyme.
For Immediate Release: December 28, 2010
Contact: Robin McShane, Development Director
HOPE Partnership Receives Last Major Piece to Complete Financing For Ferry Crossing Project
On Friday, December 17th, HOPE Partnership and the Women’s Institute received word that the Federal Home Loan Bank of Boston selected Ferry Crossing as one of only ten projects in New England to receive a low-interest loan and grant through its Affordable Housing Program (AHP). There were over 50 applications in this round. The financing, which totals close to $1 million, will be provided through Liberty Bank. The award is great news for our efforts, as it represents the last major piece of financing needed to move the Ferry Crossing project toward a construction start in the early spring. We are very grateful to Liberty Bank for sponsoring the application and to the many individuals and organizations who helped to make this application a success.