The Boston Foundation has been recognized by the U.S. Department of Housing and Urban Development (HUD), in partnership with the Council on Foundations, as one of 10 recipients of the first annual Secretary’s Award for Community Foundations.
The award honors community foundations for their innovative public-philanthropic collaborations designed to address housing and community development challenges.
The awards were announced today during the Council’s Fall Conference for Community Foundations in New Orleans. The Boston Foundation was recognized for its leading role in the establishment of the Neighborhood Stabilization Loan Fund, in which the Boston Foundation served as a convening sponsor and which to date has financed 468 housing units through more than 30 lending partners.
"In 2008, as the foreclosure crisis began sweeping the across the nation and into New England, the Boston Foundation joined with partners to identify problems and determine the ways that a coalition of public, private and nonprofit groups could have a meaningful impact keeping families in their homes," said Paul S. Grogan, President and CEO of the Boston Foundation. "This award recognizes the unique power of collaboration to develop real solutions."
HUD and the Council on Foundations’ Public-Philanthropic Partnership Initiative developed the award to recognize community foundations for enhancing the quality of life for low-income and moderate-income families. The projects addressed issues concerning housing and neighborhood improvements, education, health and recreation, transportation, arts and culture, public safety, sustainability and economic development. An expert panel selected one award recipient from each of HUD’s 10 regions.
In early 2008, the Boston Foundation funded a task force convened by the Urban Land Institute, Citizens’ Housing and Planning Association (CHAPA) and Massachusetts Association of CDCs to address the crisis and its destabilizing effect on Massachusetts communities. The task force zeroed in on treating fragile streets and foreclosure hotspots as a key to preventing neighborhood blight.
The Boston Foundation followed up on its funding of the task force by contributing $2 million in Program Related Investments, the first money on the table, towards creating the $22 million Neighborhood Stabilization Loan Fund (NSLF).
"By turning foreclosed homes into affordable housing, The Boston Foundation is creating lasting and positive change in Boston," said Barbara Fields, HUD New England Regional Administrator.
"The Boston Foundation and the other honorees are shining examples of foundations at their best, demonstrating leadership, vision, partnership, and investment," said Vikki N. Spruill, president and CEO of the Council on Foundations. "While leaders will continue facing challenges in years to come, we should be heartened by the philanthropic spirit community foundations exemplify as they innovate, take risks, and make a positive impact for the people they serve."
