|
|
Hearth named Citizens Bank’s 2007 Housing Hero in Massachusetts
Citizens Bank Foundation provides non-profit with $50,000 to support the effort to end elder homelessnessBOSTON (May 11, 2007) - Citizens Bank of Massachusetts has named Hearth, Inc., a non-profit organization dedicated to ending elder homelessness, as its 2007 Housing Hero. As part of the award, Hearth will receive a $50,000 grant from the Citizens Bank Foundation. The Housing Heroes award and grant program is an extension of the Citizens Housing Bank, a low-interest loan program designed to increase the affordable housing supply in the state.
“Citizens Bank is excited to name Hearth, Inc. as this year’s winner of the Housing Hero Award for its commitment to ensuring the elderly community has a safe and affordable place to call home,” said Robert E. Smyth, Chairman, President and CEO of Citizens Bank of Massachusetts. “There is a critical need for affordable housing in the state and we commend Hearth for doing its part to protect the health and well-being of our seniors.”
The Housing Heroes award was designed to spotlight housing development that demonstrates innovative solutions, effective use of resources, leadership in creating affordable housing and strong fiscal responsibility. Last year, Citizens Bank gave the 2006 Housing Hero award to the Codman Square Neighborhood Development Corporation for its Know Your Home, Your Neighbors and Your Neighborhood program, which provided post purchase education and counseling to 22 first-time homeowners of the Franklin Field South II homeownership development in Boston’s Dorchester neighborhood. The bank’s inaugural Housing Hero award in 2005 went to Cape Cod’s Housing Assistance Corp. to support its Cape Cod Senior Residences at Pocasset.
Hearth was selected as the Housing Hero for its commitment to ending elder homelessness in greater Boston by working to secure permanent housing for them. It offers supportive services and prevention programs designed to help them live healthy and stable lives, while addressing their individual medical and social service needs. Founded in 1991 under the name The Committee to End Elder Homelessness, Inc., Hearth has served approximately 1,800 elders through its outreach program and housed more than 800 clients.
The organization operates six permanent housing sites in the Boston area including its newest establishment, Burroughs House, a 14-unit home in the city’s Jamaica Plain neighborhood. Residents share a common kitchen, dining room and living room, giving them the opportunity to socialize and foster a sense of community.
As part of the $50,000 grant from the Citizens Bank Foundation, $10,000 is designated for a resident-related program. Hearth will use this funding for a part-time, licensed social worker who will work exclusively at Burroughs House and be responsible for:
• Assisting with the screening processes and documentation for potential residents.
• Conduct tenant assessments.
• Oversee staff in the development and implementation of the planning process of tenant care.
• Coordinate mental health services for clients.
• Develop and coordinate appropriate trainings on case management.
• Assist the staff in handling crisis intervention and prevention for residents.
In addition to Burroughs House, Hearth operates five affordable housing sites including:
• Anna Bissonnette House in the South End, a renovated bread factory housing 40 seniors.
• Bishop Street House in Jamaica Plain, which houses nine elderly women.
• Ruggles Assisted Living Community in Roxbury, a former schoolhouse and home to 43 seniors.
• Ruth Cowin House, a nine-unit brownstone in Brookline, Mass.
• Uphams Corner in Dorchester, a 14-unit dwelling.
Through the “President to President” program, another component of the award, Hearth will have the opportunity to take advantage of the expertise of Smyth, who can offer guidance to the organization on business-related issues.
“We are honored to be recognized by Citizens Bank as a Housing Hero,” said Mark Hinderlie, President and CEO of Hearth. “Making our Burroughs Street residence a reality is a wonderful example of how well a collaborative partnership between private and public entities can work to help fill the critical need for affordable elder housing. The acquisition of the house was made possible by the City of Boston, the Commonwealth of Massachusetts, individual and corporate donations, and hours of volunteer and staff time. With this wonderful award from Citizens Bank to fund the services that make the program at Hearth so incredibly successful, we look forward to bringing even more formerly homeless people home for good. We are deeply grateful for its critically important support.”
Through the Housing Heroes grant program, Citizens Bank has provided $150,000 to non-profit developers in Massachusetts. Citizens will select its fourth Housing Hero in 2008. Any non-profit developer who completes an affordable housing project before the end of 2006 is eligible.
The Citizens Housing Bank Community Loan Program, a $200 million loan commitment, was designed to address this need by providing non-profit developers with the low-cost funding they need to create a new supply of affordable housing units for rental or homeownership and increase neighborhood stability through new homeownership opportunities. Up to 1,200 units are expected to be created directly from the program.
About Citizens Bank of Massachusetts
Citizens Bank of Massachusetts is a $35 billion bank with 264 branches and 613 ATMs stretching from greater Boston to Cape Cod and the Berkshires. It is headquartered at 28 State Street in Boston. It is a subsidiary of Citizens Financial Group, Inc., a $161 billion commercial bank holding company headquartered in Providence, R.I. Citizens has more than 1,600 branches, approximately 3,100 ATMs and more than 25,000 employees. It has a 13-state retail branch network plus non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth in assets as of September 30, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).
|