►
Description
Docket #0367 - Hearing regarding homeownership assistance including for first-generation homeowners
A
Ring
is
on
docket
zero.
Three
six,
seven,
this
the
docket
formally
is
named
an
order
for
hearing
regarding
homeownership
assistance,
including
four
first
generation
home
buyers.
This
matter
was
co-sponsored
or
was
sponsored
by
councillor
bach
councillor
braden
and
myself.
I'm
joined
today
by
councillor
bach
council
brandon,
councillor
flynn.
A
I
have
a
letter
from
counselor
julia
mahia
that
I'm
going
to
now
read
into
the
record,
noting
her
absence
dear
madam
chair
members
of
the
committee
on
housing
and
community
development,
I'm
writing
to
inform
you
of
my
absence
for
today's
hearing
on
the
committee
on
housing
and
community
development
regarding
docket
zero,
three,
six,
seven
order
for
hearing
regarding
home
ownership
assistance,
including
four
first
generation
home
buyers
due
to
previously
scheduled
great
engagement.
I
am
not
able
to
attend.
A
However,
I
want
to
offer
my
support
and
thanks
to
co-sponsors,
counselors
bach
counselors,
braid
and
council
edwards
voicing
this
issue
in
the
council
as
the
first
person
in
my
family
to
buy
a
home.
This
issue
was
incredibly
personal
to
me.
It's
crucial
that
we
ensure
that
housing
is
accessible
to
everyone
and
that
equity
is
at
the
center
of
this
conversation
for
people
who
have
systematically
been
denied
homeownership
opportunities,
which
is
partially
why
our
office
filed
a
hearing
order
on
reparations
alongside
councilor
bach.
A
I
look
forward
to
following
up
on
this
conversation
and
I
hope
to
take
part
in
future
dialogues-
sincerely:
julia
mejia,
boston
city
council
at
large.
So
with
that
I'm
going
to
just
go
through
the
formalities.
This
hearing
is
being
recorded
broadcasting
on
xfinity
channel
8,
rcn
channel
82
files
channel
964.
It
is
live,
streamed
at
boston,
dot,
gov,
slash
city
dash,
council
dash
tv
tv.
We
also
make
the
public
testimony
available
at
the
end
of
the
hearing.
A
If
you
are
interested
in
testifying,
please
email,
ron.com,
that's
ron.cobb
at
boston.gov
for
the
link
and
follow
along
on
the
live
stream
to
know
when
it's
your
turn
to
speak,
please
state
your
name
and
affiliation
residence
and
limit
your
comments
to
a
few
minutes
to
ensure
that
all
comments
and
concerns
can
be
heard.
We
are
here
today
for
a
hearing
on
docket
0367,
a
hearing
regarding
home
ownership
assistance,
including
first
generation
home
buyers.
A
Today
we
have
several
invited
speakers
from
the
administration,
as
well
as
from
advocates
and
policy
experts,
I'm
just
going
to
name
them
all
right
now
we
will
have
the
administration
after
opening
comments
from
our
for
my
colleagues.
We
will
then
have
the
administration
speak,
and
then
we
will
have
the
a
round
of
questions
or
some
comments
or
my
colleagues
and
then
we
will
go
to
the
advocates
and
then
we
will
have
another
round.
So
from
the
administration
we
have.
A
We
have
maureen
flynn,
deputy
director
of
the
boston
home
center
of
the
department
of
neighborhood
development,
and
we
also
have
karen
rabaza
advice.
Yes,
okay
assistant,
director
of
home
buying
services
from
the
boston
home
center
department
of
neighborhood
development
from
our
advocates
and
policy
experts.
A
We
have
simone
crawford
director
of
stash
and
home
ownership
operations
at
the
massachusetts,
affordable
housing
alliance,
clark,
ziegler,
executive
director
of
the
massachusetts,
housing
partnership,
phil
hellman,
and
I
I
think
shayack
might
also
be
joining
us,
but
I
yeah,
I
see
you
good
to
see
you
from
the
greater
boston,
chakra
body.
I
said
that
correctly.
A
Thank
you
very
much.
Yes,
chakra
boarding
is
from
the
greater
boston
interfaith
organization
we
have
jeanette
ratcliffe
associate
vice
president
for
the
housing
finance
policy
center
of
the
urban
institute.
We
have
ms
joe
and
barbara
executive
director
of
charles
view
incorporated
and
ms
megan
monson,
home
ownership
and
counseling
manager
of
austin
brighton
cdc
our
community
development
corporation.
A
So
we
have
then
some
people
also
signed
up
for
public
testimony.
I
see
a
jill
konopka
from
the
neighborhood
assistance
corporation
of
america.
Ernaca
bruce
marks
ceo
of
the
neighborhood
assistance
corporation
of
america
and
joshua
wilson,
also
from
from
naca,
so
just
want
to
let
everyone
know
who
is
here
in
the
zoo.
If
you
will
to
to
have
this
conversation,
I'm
going
to
go
ahead
and
turn
it
over
to
the
lead
sponsors
for
some
opening
remarks
and
counselor
flynn
and
then
we'll
go
to
the
panel
counselor
bach.
C
Edwards
and
thank
you
everyone
for
being
here,
you
know.
The
motive
of
this
hearing
is
really
that
we've
been
doing
some
pretty
exciting
stuff
in
the
home
ownership
space
in
the
city
of
boston
in
the
last
couple
of
years,
and
it's
really
been
driven
by
a
lot
of
the
people
we're
going
to
hear
from
today,
and
it's
something
that
I
was
proud
to
work
on
before.
I
was
a
counselor
and
I'm
really
proud
to
support
sort
of
the
budget
expansion
of
since
becoming
a
counselor.
C
But
I
think
that
more
people
need
to
know
about
what
we're
doing,
on
the
first
time,
and
especially
first
generation
home
ownership
front
in
the
city
of
boston.
And
you
know
this
is
an
area
where
we
need
to
amplify
the
resources,
because
the
whole
city
continues
to
talk
about
our
racial
wealth
gap.
But
homeownership
is
such
a
key
piece
of
addressing
that
and
first
generation
home
ownership
is
really
something
that
we
in
boston
are
leading
the
way
on
being
a
way
to
really
target
that
intervention
towards
that
goal.
C
D
Braden,
thank
you.
I'm
really
just
delighted
and
excited
to
be
part
of
this
conversation.
This
afternoon.
I
I
want
to
echo
my
colleagues
remarks:
home
ownership
and
first
generation
home
ownership
is
so
essential
to
building
generational
wealth
and
also
stabilizing
our
communities,
especially
out
here
in
austin
brighton,
and
we
have
you
know
under
10
percent
in
allston
and
hovering
around
20
percent
of
owner
occupancy
in
brighton,
and
I
think
that
is
detrimental
to
the
the
stability
and
the
civic
life
of
our
communities.
D
I
took
my
first
time:
homeowner
owners,
homeowners
class
with
the
cdc
and
my
partner,
and
I
bought
the
and
bought
a
home
in
in
the
neighborhood
a
long
time
ago,
and
it's
they're
doing
great
work
and
the
challenge
for
us,
like
nelson
bright,
was
to
actually
have
homes
that
are
affordable
for
folks
to
buy.
So
that's
that's
the
other
side
of
the
equation,
so
we'll
look
forward
to
the
conversation
this
afternoon.
Thank
you.
A
Thank
you
just
very
briefly.
On
my
end,
this
conversation
is
is
a
matter
of
not
just
housing,
justice
but
racial
justice
and
making
sure
that,
as
long
as
homeownership
is
linked
to
generational
wealth,
if
we
are
not,
if
we
are
not
creating
more
pipelines
for
more
people
of
color
for
younger
people
to
have
access
to
that,
then
we
are
we're
cutting
off
generations
to
follow
from
accumulating
wealth.
That
is
very
necessary
not
just
for
their
future,
but
honestly
for
them
to
be
able
to
pass
down.
A
I
think
this
is
also
a
moment
where
we
need
to
be
pulling
in
all
the
institutions
that
are
funding
our
home
ownership
and
not
just
not
so
much
holding
them
accountable,
but
really
making
sure
the
programs
that
they
have
are
reaching
the
people
who
need
them
and
and
are
funded,
but
and
and
we
as
a
city,
need
to
speak
with
a
moral
compass.
I
believe
that
homeownership
is
a
way
of
preventing
displacement.
A
It's
a
way
of
making
sure
that
people
are
invested
continually
in
the
communities
that
they
hopefully
can
grow
up
in
and
and
stay
as
long
as
they
want
to.
So
this
is,
this
is
a
matter
of
stabilizing
our
neighborhoods.
It's
a
matter
of
racial
justice,
it's
a
matter
of
also
bringing
banking
institutions
and
the
government
together
for
that
what
we
often
say
public
private
partnership
to
get
things
done.
A
So
I'm
very
excited
about
the
people
who
are
here
the
activists
I
met
many
of
them
and
so
many
different
ways,
and
I
still
have
my
pie
dish
from
expand
the
pie
where
we
discussed
about
the
incredible
goal
of
getting
a
thousand
new
homeowners
in
five
years
in
in
the
city
of
boston.
So
these
are.
These
are
things
that
we
need
to
continue
to
fight
for
I'm
going
to
now
turn
it
over
to
councillor
flynn
and
then
we'll
go
to
the
administration.
E
Thank
you,
council
edwards,
and
thank
you,
council,
edwards
and
council
block
and
council
braden
for
your
important
work
on
this
issue
and
the
city
officials
that
are
here
from
dnd.
Thank
you
for
your
important
work
as
well
and
leadership
on
this,
and
the
activists
that
have
been
in
the
in
the
neighborhoods
for
many
years
connecting
residents
with
with
homes
is
incredible,
work
that
you're
also
doing
so.
I
want
to
say
thank
you
to
you
and
your
teams
back
in
the
neighborhoods
white
counselor
braden
mentioned
and
as
counselor
edwards
and
brock
also
highlighted.
E
You
know
the
first
time
homeowners
program,
they're
critical
for
residents,
but
what
I
want
to
make
sure
is
that
residents
that
traditionally
have
not
heard
of
these
types
of
programs-
maybe
maybe
immigrants
or
residents
that
might
not
speak
english
or
or
residents
in
bha.
Maybe
we
want
to
make
sure
that
every
resident
has
the
opportunity
to
participate
in
such
a
program
and
knows
about
the
program
council
edwards
mentioned
it's
about
racial
justice,
and
I
agree.
E
E
F
Hi
hi
everybody
good
afternoon
show
our
woman,
edwards
and
and
members
of
the
council.
My
name
is
maureen
flynn
and
I'm
the
deputy
director
for
the
boston
home
center.
The
homeownership
division
of
the
department
of
neighborhood
development
here
with
me
today
is
karen
rabazza,
the
assistant
director
for
home
buying
services
with
the
boston
home
center.
F
F
G
F
Ta
or
assisting
buyers
to
buy
sponsored,
affordable
housing
units,
including
resales,
and
then
education
and
counseling
services.
We
provide
funding
for
our
partner
agencies
like
baja
and
austin
brighton,
cdc
to
train
individuals
to
buy
and
keep
their
homes.
Last
year
we
had
almost
2
000
graduates
of
our
home
buyer,
educational
programs.
So.
F
But
that
was
clearly
more
than
in
recent
years,
and
we
attribute
that
to
a
good
thing
about
virtual
classes,
which
is
that
more
people
could
participate
in
them.
They
didn't
have
to
rush
home
from
work
and
go
to
an
to
an
in-person
class
that
they
could
participate.
Virtually
of
those
2
000
graduates
over
300
were
people
of
color.
F
We've
also
expanded
our
educational
programs
to
include
classes
on
cooperatives
and
how
to
deal
with
household
maintenance
and
upkeep
for
new
households,
new
heads
of
households.
So,
for
example,
if
a
partner
dies
or
there's
a
divorce,
sometimes
people
are
thrust
into
the
role
of
head
of
household,
not
having
taken
care
of
the
house
in
the
past,
and
so
we
offer
classes
through
courses
through
maha.
On
that.
For
that
situation
we
also
market
income,
certify
and
help
buyers,
reserve
units
for
our
nhi
and
nhd
sponsored
new
construction
units.
F
We
produced
33
units
of
home
ownership,
so
33
home
ownership
units.
Many
of
those
buyers
who
went
into
affordable
units
also
received
our
financial
assistance
city
funds
supported
all
dnd
home
ownership
units
that
were
produced
because
we
were
the
only
funding
source
because
the
state
hadn't
funded
homeownership
for
a
while
with
the
state's
new
commonwealth
builder
program,
we're
hopeful
that
we
can
produce
more
units
of
home
ownership
now
and
we're
really
excited
about
receiving
the
arpa
funds
and
what
that
could
mean
for
home
ownership
unit
production
as
well.
F
Lastly,
and
most
probably
most
importantly,
the
boston
home
center
provides
financial
assistance
to
home
buyers
in
2017
d
d,
convened
what
we
call
the
barriers
to
home
ownership
working
group
consisting
of
a
racially
diverse
group
of
lenders,
realtors
advocates
and
quasi
public
agency
officials.
Many.
D
F
Mhp,
mass
housing,
realtors
and-
and
I
think
three
or
four
banks
who
ended
up
participating
with
us
over
the
long
haul.
The
purpose
of
the
group
was
to
build
on
dnd's,
decades-long
work
on
racial
equity
and
to
increase
home
ownership
rates
by
identifying
and
then
developing
creative
solutions
to
the
barriers
faced
by
priority
demographic
groups.
So
our
priorities
were
low
and
moderate
income,
households,
households
of
color,
new
immigrants
to
boston
and
individuals,
who
would
be
first
generation
buyers
and
their
families.
F
Through
that
working
group,
we
identified
four
main
barriers
to
homeownership
for
those
groups,
and
this
isn't,
I
think,
important,
because
as
we
talk
about
equity
and
what
that
means,
it
doesn't
mean
providing
one.
You
know
one
slot
solution
for
everybody.
It
means
tailoring
solutions
to
to
meet
folks
where
they
are
so
we
weren't
talking
about
coming
up
with
one
solution
for
everybody.
We
wanted
to
figure
out
what
were
the
barriers
that
people
face
and
then
tailor
the
solutions
to
those
barriers.
F
So
the
first
barrier
that
was
identified-
and
I
know
no
one's
going
to
be
surprised
about
this,
but
was
the
high
prices
or
are
in
boston
to
purchase
a
home.
So
that's
not
a
surprise
that
didn't
take
a
lot
of
research
that
that
is
what
it
is.
The
second
issue
that
a
lot
of
folks
faced
was
low
credit
scores
and.
F
Difficult
for
buyers
to
qualify
for
the
really
excellent
products
that
mhp
and
that
mass
housing
offer,
and
I'm
really
excited
that
the
urban
institute
is
part
of
the
meeting,
because
they've
done
great
work
on
on
credit.
The
third
barrier
that
came
to
the
four
was
large
student
debt
loads
that
prevented
buyers
from
qualifying
for
mortgage
products
because
of
their
debt
to
income
ratios
even
before
adding
a
mortgage
to
the
mix.
F
So
it
wasn't
necessarily
that
buyers
with
student
debt
couldn't
afford
to
amass
a
down
payment,
although
that
sometimes
is
an
issue,
but
it
was
their
debt
to
income
ratio
that
was
really
the
barrier
to
them
getting
into
home
ownership,
because
monthly
student
debt
was
so
high.
That
lenders
use
a
certain
underwriting
formula
and
say
you
know,
if
you
add
a
mortgage
on
to
this,
we
don't
think
that
that
buyer
is
necessarily
a
good
bet
for
us.
F
Yet
the
buyers
were
paying
probably
more
than
they
would
for
a
mortgage
in
rent
payments,
so
on
paper
it
looked
like
they
could
afford
to
own
a
home.
The
fourth
issue
was
the
lack
of
down
payment
for
buyers
that
couldn't
rely
on
family
or
friends
for
a
down
payment,
because
they
were
the
first
to
own
in
their
families.
F
F
E
F
And
we
determined
that
the
thing
that
would
give
folks
the
most
purchasing
power
was
reducing
the
interest
rate
as
low
as
we
could
go
and
and
giving
them
enhanced
down
payment
assistance.
So
that
program
is
available
to
folks
that
currently
live
in
boston
and
that
are
100,
ami
or
less.
So
that's
a
great
program
and
karen's
going
to
talk
a
little
bit
more
about
the
demographics
of
the
success
of
that
program.
F
F
So
one
of
the
questions
that
I
think
was
asked
of
us
was:
are
our
buyers
being
sustained
in
their
homes?
So
are
they
able
to
sustain
homeownership?
We
think
we've
had
pretty
good
success
on
this.
Over
the
last
five
years
there
have
been
less
than
10
home
owners
that
have
been
foreclosed
on
who
have
received
financial
assistance
from
us,
and
probably
two
that
have
been
foreclosed
on
who
have
been
indeed
restricted
properties.
F
So
we
have
a
very
good
track
record
of
sustaining
those
those
home
ownership,
those
homes
for
for
folks
as
well,
and
as
you
know,
we
offer
a
variety
of
home
ownership,
programs
and
products
for
folks
that
own
and
they
can
get
that
assistance
in
addition
to
the
don
fema
assistance
from
us.
Secondly,
we
partnered
with
mass,
affordable
housing
alliance
maha
to
support.
A
F
Their
what
they
call
their
stash
program
and
expand
availability
to
boston
residents,
using
some
of
the
funds
that
d
received
from
the
police
overtime
budget,
we
provided
maha
with
the
funds
to
give
first
generation
buyers
a
two
to
one
match.
So
if
buyers
could
save
twenty
five
hundred
dollars,
they
would
get
five
thousand
dollars
through
the
city
program
through
from
maha,
in
a
grant,
so
they'd
be
walking
out
the
door
from
the
program
with
at
least
7
500
paid
for
closing
costs
or
down
payment.
F
The
mayor's
office
will
also
be
holding
a
public
meeting
soon
to
take
feedback
on
some
of
the
public's
ideas
for
closing
the
racial
wealth
gap
by
supporting
homeownership
with
arpa
funds.
So
we're
looking
forward
to
hearing
from
the
community
their
ideas
for
supporting
more
homeownership
and
and
figuring
out
ways
to
create
solutions
for
different
subsets
of
buyers
and,
like
I
said,
understanding
where
people
are
and
getting
them
past
the
goal
line
into
homeownership.
F
I
Sorry,
okay,
so
the
first
talk
was
about
the
one
of
the
slides
and
which
shows
the
total
and
demographics
of
buyers
who
have
participated
in
the
oneplus
custom
program.
In
our
have
program,
formerly
known
as
fap
last
year,
we
had
about
63
buyers
that
bought
their
first
home
through
the
one
plus
custom
program
and
25
buyers
purchased
through
the
improve
half
program.
I
It
also
shows
all
the
cities
in
the
neighborhoods
that
that
our
homeowners
are
actually
investing
into
we're
reaching
buyers
that
we
are
not
able
to
help
before.
For
example,
we
had
a
single
mom
this
year,
who
has
who
had
a
section
8
certificate
and
she
just
recently
closed
on
her
new
home
with
the
one
plus
boston
program
and
even
now,
during
the
pandemic,
buyers
took
our
classes
in
record
numbers
and
we
were,
and
we
closed
more
loans
last
year
than
the
previous
physical
years.
I
In
addition,
our
support
for
the
first
generation
program-
it's
it's
enabling
more
buyers
of
color
to
buy
in
boston.
We
provided
funding
this
past
fiscal
year
for
50
buyers
to
enroll
in
the
program
24
percent
are
atlantic
at
latin
and
78
are
black.
Overall,
the
program
most
participants
are
under
the
age
of
40
years
old.
Approximately
40
percent
are
female.
Heterofossils
and
38
are
immigrant
seven
of
the
50
buyers.
Her
pitchers
have
purchased
their
their
home
in
the
past
and
the
past
year
we
market
our
home
ownership
programs
in
several
ways.
I
We
of
course
use
social
media
and
attend
virtual
meetings,
but
we
also
present
at
every
home
buyer
course
we
financially
support.
That
means
that
staff
are
attending
courses
courses
at
night
and
on
the
weekends
to
promote
our
programs
and
we're
not
presenting
our
information
in
spanish
at
classes
sponsored
through
noaa
in
maja.
I
We
we
received,
we
had
over
200
registered
for
our
home
buyer
session
and
over
200
registered
for
our
homeowner
session,
and
even
though
we
had
such
a
great
weather,
that
was
not
an
impediment
everyone
attended.
It
was
such
a
great
success
in
our
new
way
of
doing
our
zoom
expo.
So
thank
you
and
I'm
happy
to
answer
any
of
your
questions.
A
Thank
you
so
much
for
the
excellent
presentation
karen
and
thank
you
also
maureen
as
well.
It's
inspiring
so
I'm
going
to
go
ahead
and
kick
it
off
from
the
two
lead,
sponsors
and
I'll
follow
up
and
then
counselor
clinton.
If
you
have
any
questions,
thank
you
again
for
your
incredible
hard
work
and
representing
boston
very
well
too.
Yes,
yeah,
I'm
a
little
advised.
It's
awesome,
good
job,
karen
all
right,
counselor
bach
and
then
counselor
brayton
and
myself,
and
the
counselor
flynn.
G
F
Statewide
program
that
that
mhp
offers-
and
it's
a
mortgage
program
that
offers
a
reduced
interest
rate,
that
clark,
I'm
sure
we'll
talk
about
later
and
it's
a
good
program,
because
buyers
don't
have
to
pay
pmi
right,
so
private
mortgage
insurance,
so
that
allows
them
to
put
more
of
their
money
towards
the
main
mortgage
payment
and
afford
more
house.
So
mhp's
interest
rate
is
already
low
to
begin
with,
and
the
credit
score
to
get
into
a
one
mortgage
is
probably
one
of
the
lowest
credit
scores
of
a
good,
affordable
product
in
massachusetts
right.
F
So
we
took
that
low
interest
rate
to
begin
with
and
then
used
cpa
funds
to
reduce
the
interest
rate
even
lower,
so
for
buyers
that
make
that
earn
between
80
and
100
ami.
They
get
a
full
half
a
full
half
point
interest
rate
off
of
mhp's,
already
reduced
interest
rate
and
for
buyers
that
make
earn
below
80
mhi.
It's
a
full
percentage
point
off
of
the
one
current
interest
rate,
so
that
knocks
the
interest
rate
really
low.
What
and
when
we
were
working
with
our
lenders,
which
also
deserve
a
lot
of
credit.
F
So
so
someone
gets
a
reduced
interest
rate
and
there's
a
cash
cost
to
that
to
giving
someone
a
reduction
in
the
interest
rate,
we
use
cpa
funds
and
we
provide
funding
to
directly
to
mhp
for
that
cash
amount
that
it
costs.
Let's
say
it's
cost
15
000,
let's
say
to
reduce
someone's
interest
rate
from
a
three
percent
to
two
and
a
half
percent,
I'm
just
making
that
up.
F
F
We
got
from
one
to
one
plus
because
we're
using
c
cpa
funds.
Cpa
funds
are
only
it's
a
good
match,
because
the
one
product
folks
at
100
ami
are
eligible
for
the
one
product
and
because
we're
using
cpa
funds
which
are
eligible
for
folks,
100,
ami
and
below
perfect
match.
So
so
that's
who
is
eligible
to
receive
the
one
plus
program.
F
G
D
F
D
D
F
K
F
F
D
I
think
well,
you
know
my
experience
of
when
I
would
took
the
home
buying
course
25
years
ago.
The
great
advice
at
the
time
was
to
try
and
buy
a
two
family
so
that
you
could,
you
could
live
in
one
unit
with
your
family
and
you
could
rent
out
the
other
half
the
other
units
to
help
pay
with
your
mortgage.
But
then
we
we
saw
an
increase
in
speculative
investment
and
all
those
two
family
homes
would
be
bought
up
by
outside
investors.
So
right,
that's
the
challenge
we're
up
against,
but
anyway,
thank
you.
D
A
Thank
you.
I
will
keep
my
questions
just
to
make
sure
I
understand
in
terms
of
the
increase
of
participation
in
pipeline,
because
I
think
that
that
is
what
I'm
most
excited
about.
You
may
have
gone
through
the
year-over-year
increases.
I
think
you
said
last
year
we
had
a
record-breaking
number
of
folks
in
the
course.
B
H
F
A
And
we
will,
I
will
let
them
then
talk
about
that.
I
would
be
curious
because
I
was
I
I'm
beyond
excited
about
that.
I
also
I'm
very
encouraged
by
the
language,
access
and
equity
that
karen
discussed
and
her
testimony.
If
you
said
it
was
the
first
time
we
were
offering
some
of
these
courses
in
spanish
or
yes,
yes,.
I
A
Excellent
excellent
and
I'm
sure
that
I
would
just
encourage
because
we're
also
discussing
language
access
as
a
whole
city
and
ordinance
and
updating
it.
Looking
at
asl,
of
course,
you
know
american
sign
language
and-
and
I
think
our
new
ordinance,
just
as
an
fyi,
is
going
to
set
some
standards
after
population
numbers.
A
You
know,
depending
on
the
communities
and
whatnot,
but
this
is
beyond
exciting
that
your
the
the
amount
of
access
points
is
actually
increased
during
a
pandemic,
where
we
learned
that
housing
was
so
key
to
keeping
people
safe,
we
would
tell
people
to
stay
in
their
homes,
but
a
lot
of
them
then
couldn't
work
and
then
couldn't
pay.
Rent
or
a
lot
of
people
didn't
have
homes
to
go
to.
A
So
we
just
we
just
learned
so
much
in
this
and
and
I'm
so
happy
to
see
the
increase
in
the
amount
of
people
who
are
able
to
access
these
services.
What
would
you
say
in
terms
of
the
cooperative
development,
which
is
what
I'm
really
excited
about
too?
I'm
glad
so
so
I
remember
we
discussed
this
when
I
was
at
ohs
maureen
about
pipelining
in
and
getting
ta
assistance
for,
helping
to
form
housing
co-ops
or
to
maintain
them.
A
F
F
F
A
F
We
had
a
train
the
trainer
session,
with
our
homebuyer
ed
providers,
to
learn
about
co-ops
that
a
local
co-op
advocate
developed.
So
now
our
homebuyer
education
providers
are
able
to
teach
and
incorporate
into
the
homebuyer
101
classes
information
on
co-ops.
We
are
also
going
to
have
a
separate
module
like
a
mini
module
on
co-ops
as
well
coming
up
in
this
fiscal
year.
So
in
our
conversations
around
co-ops,
we
have
learned
that
there
is
one
national
bank
that,
in
addition
to
providing,
I
forget
what
the
term
is.
I
know
you
guys
know
it.
F
F
With
with
that
bank
last
we
signed
an
agreement
with
sart
the
symphony
area.
Renaissance
trust,
I
think
it
was
called
and
we
they
are
going
to
do
on
our
behalf
with
some
money
that
they
were
going
to
pay
us
back.
So
instead
we
granted
it
back
to
them
to
do
it
like
a
down
payment
assistance
program
for
co-op
purchases
in
boston.
So
we're
really
excited
about
that
and.
F
A
So,
thank
you
so
much
I
I
know
one
of
our
panelists
may
have
to
leave
in
the
next
panel,
so
I
think
councillor
flynn
might
check
in
again
he
had
a
conflict,
but
so
what
we're
gonna
do
if
it's?
Okay,
with
my
the
co-sponsors,
we're
gonna
go
ahead
and
go
to
the
advocates
panel
and
is
it
I
think
it
was
bill
bill?
Did
you
have
to
leave
by
4
30,
you're,
muted,
phil,
yep.
A
H
H
H
H
It's
a
constant
conversation
among
millennials
about
I
lived
here.
I
grew
up
here.
I
went
to
grammar
school
here
high
school
here.
I
cannot
afford
to
live
here
and
it's
you
know
it's
like.
I
wish
there
were
a
way
I
could
stay
in
cambridge
as
an
example
of
some
of
the
difficulty
people
see
in
having
this
dream
of
home
ownership.
H
Now
gbio
has
done
some
past
work
in
housing
and
we
do
have
a
long
record
of
working
on
housing
in
2015,
we'd
work
with
maha
and
other
allies
to
secure
millions
of
dollars
for
the
one
plus
mortgage
program,
which
is
incredibly
important.
Investment
in
the
first
generation
home
buyers
to
stay
in
this
city.
H
H
H
H
She
desperately
wanted
to
stay
near
her
family,
but
despite
the
fact
that
both
she
and
her
husband
worked
full
time,
the
only
house
she
could
afford
was
below
400
000.
The
only
house
was
a
broken
fixer-upper
with
massive
holes
in
the
floor.
She
ultimately
had
to
move
to
brockton
to
buy
a
home
for
her
family.
H
These
are
working
people.
These
are:
taxpayers,
nurses,
teachers,
retail
workers,
restaurant
owners,
bus
drivers
trying
to
keep
their
head
above
water
and
stay
in
the
city
they
love
but
are
being
denied
that
opportunity.
So
what
must
we
do
at
gbio?
We
are
going
to
take
action
on
this
affordable
housing
issue.
H
A
N
Thank
you,
counselors
vlog,
edwards,
bearden
and
the
rest
of
the
council.
That's
here,
my
name
is
simone
crawford
and
I
am
the
director
of
station
home
ownership
operations
at
maha.
The
massachusetts,
affordable,
housing
alliance
and
stash
is
an
acronym
that
stands
for
saving
towards
affordable,
sustainable
homeownership
and
just
to
be
clear,
as
maureen
pointed
out,
boston
first
gen
is
a
part
of
stash.
N
We
have
all
proven
track
records
of
reaching
over
70
percent
on
buyers
of
color
in
these
programs,
and
thus
we
help
to
shrink
the
homeownership
and
wealth
gaps
in
boston
with
that
said,
we
know
that
the
the
the
data
points
to
the
fact
that
70
percent
of
home
ownership
goes
to
the
white
household
as
opposed
to
35
for
blacks,
latinx
and
asian
combined.
That's
a
two
to
one
match
that
we
really
really
need
to
shrink.
N
We
should
invest
in
dramatically
increasing
the
number
of
home
buyers.
We
can
serve
through
these
programs
each
year.
In
addition,
on
the
demand
side,
there
are
programs
that
need
to
help
low
to
moderate
income
renters
enter
the
homeownership
market
and
must
be
coupled
with
a
substantial
investment
in
expanding
the
affordable
housing
stock.
N
Our
own
buyers
are
facing
a
market
where
there
are
upwards
of
10
offers
and
many
properties,
and
I
can
say
this
that
I've
heard
firsthand
one
of
my
stash
participants
that
purchased
two
months
ago
after
being
turned
down
for
literally
10
offers
on
the
the
11th
one
she
had
to
offer
60
000
over
asking.
She
had
to
write
a
letter
and
send
pictures
with
a
detailed
depiction
of
how
or
this
homeownership
opportunity
could
benefit
her
family
in
order
to
beat
out
speculators
with
cash
offers.
N
So
there
are
competitive
pressures
that
are
forcing
some
to
forego
homeownership
and
mortgage
contingencies,
such
as
home
inspections,
they're,
putting
down
both
payment
down
payment
and
savings
and
their
long-term
tenure
in
the
homes
at
risk
when
they
we
teach
them
and
the
classes
them
mean
in
our
class
graduates
to
make
sure
that
they
protect
themselves
and
their
investment
by
you
know
doing
inspection
on
their
homes,
and
you
know
making
sure
they
have
an
attorney
and
all
those
things.
But
in
order
to
really
be
competitive
in
this
market,
they
have
to
waive
all
of
those
rights.
N
I
want
to
talk
a
little
bit
about
the
questions
that
we
were
asked
earlier.
I
want
to
give
you
some
demographic
information
for
participants
of
this
program.
Now
this
program
is
pretty
young.
It's
still
considered
a
pilot,
we
started
in
april
of
2019
and
if
we
take
into
consideration
the
fact
that
each
participant
must
complete
an
eight-month
one-hour
session
of
you
know,
asset
bill
management,
credit,
financial
stability
goal
setting
and
all
of
that
stuff.
We
know
that
this
program
is
pretty
pretty
young,
but
so
far
we
have
enrolled
approximately
200
participants.
N
N
N
N
N
While
this
is
a
new
program,
we
have
successes
despite
the
current
market,
where
successful
participants
have
purchased
condominiums,
single-family
and
even
multi-family
homes,
and
they
are
inclusive
and
all
all
across
the
city
of
boston,
from
eid
park
to
jamaica,
plain,
roxbury,
dorchester
mattapan.
So
we
are
very
conscious
of
the
fact
that
this
program
is
working.
The
bank
of
mom
and
dad
is
something
that
comes.
You
know
very
easy
for
one
demographic
or
race,
as
opposed
to
less
for
people
of
color.
N
We
we,
the
question
is,
as
is
home,
ownership
being
sustained
after
households
are
provided
assistant,
and
this
is
a
great
question.
These
are
relatively
new
homeowners,
as
the
first
purchase
happened,
late
2019,
the
most
recent
purchase
occurred
last
month.
All
new
homeowners
went
through
a
complete
eighth
monthly
session,
straining
on
asset
management.
N
Now
it
asks
how
many
current
renters
in
boston
are
eligible
for
each
program
yet
have
not
participated
thus
far
for
us.
What
I
can
say
is
the
the
demand
for
home.
Ownership
is
great
and
it
keeps
increasing
each
year
and
to
put
things
into
perspective
just
for
maha
alone.
As
we
know,
maha
is
not
the
only
first-time
mumbai
education
provider
in
the
city,
but
in
2018
we
graduated
a
little
over
800
first
time,
mumbai
in
2019,
we
graduated
1700..
N
N
Stash
is
a
pilot
program,
so
funding
for
matches
and
for
administrative
costs
is
a
barrier,
but
it's
something
that
we've
been
working
on
and
thanks
to
the
city
of
boston,
for
the
investment
into
this
program
that
has
allowed
us
to
expand
the
programs.
Thus
far,
the
city
of
boston
contact
contracted
with
maha
to
provide
first
time
homebuyer
training
for
its
residents.
Stash
is
advertised
in
all
of
maha.
First
time
own
buyers
classes
all
of
the
post
purchase
classes
as
well.
N
We
have
approximately
26
classes
per
year
and
just
to
add
to
what
is
being
said
as
it
relates
to
the
availability
of
the
class.
As
we
move
to
at
online
platform
in
person,
we
used
to
have
our
education,
a
beautiful
education
space,
maybe
accommodate
about
50
participants
for
each
class
online.
We
had
to
put
a
cap
of
150
per
class,
so
we
have
a
triple
the
amount
of
people
that
can
take
her
classes
at
any
one
point.
At
any
point.
N
We
also
use
social
media
a
lot
to
bring
awareness
to
the
programs
that
we're
that
are
available
and
we
use
several
different
media
outlets
as
we
talk
about
stash
and
try
to
scale
stash
we're
still
in
a
government
period
and
funding
is
a
major
constraint,
and
so
I
really
appreciate
this
time
to
amplify
and
to
really
educate
people
around
the
program
that
we're
doing
about
the
race,
conscious
aspect
of
it,
and
hopefully
we
are
able
to
you-
know,
bring
this
to
more
of
the
masses
in
boston.
Thank
you
for
your
time.
A
Thank
you.
We
have
clark,
ziegler,
jeanette,
ratcliffe,
miss
joanne,
barber,
miss
megan,
monson
and
bruce
marks
still
to
speak
just
on
the
panel
so
for
the
panelists
coming
afterwards,
just
a
matter
of
maybe
maybe
limiting
comments
to
about
five
minutes
so
that
we
can
get
through
them.
Plus
we
do
have
public
testimony
want
to
acknowledge
the
counselor
sabi
george
has
also
joined
us
for
today's
conversation,
clark,
ziegler.
L
L
L
L
So
it's
a
great
success
story
and
it
was
a
particularly
strong
program
in
boston
until
five
or
ten
years
ago,
the
volume
really
in
boston
really
started
to
drop
off,
and
that
was
related
directly
to
the
gap
between
incomes
and
purchase
prices
and
the
lack
of
and
there's
been
a
lot
of
people
today.
Talking
about
the
the
lack
of
affordable
stock,
that's
available.
L
The
to
address
a
a
few
of
the
questions
that
were
posed
by
put
to
us
by
the
committee-
and,
I
have
to
say
the
demographics
from
dnd
were
terrific,
we'll
also
we
have
our
own
demographics.
I
think
hopefully
match
your
data.
The
data
at
dnd
we're
happy
to
share
that
with
the
committee,
but
I
was
at
a
couple
things.
One
is
just
to
recognize.
L
This
has
been
a
heavy
lift
for
participating
lenders
and
you
know
just
to
mention
them
all
by
name:
cambridge
trust,
citizens,
bank
city,
boston,
credit
union,
santander
and
silicon
valley,
bank,
formerly
boston,
private
bank
and,
most
recently,
the
cooperative
bank,
also
a
pretty
big
shout
out
to
santander,
which
is
has
originated
half
to
date.
Half
of
the
closed
oneplus
boston
loans,
I
think
in
terms
of
other
demographics
and
other
characteristics
of
the
program.
L
I'll
come
back
to
that
in
terms
of
property
type
we're
seeing
about
I'm
sorry,
I've
got
regained
my
thought.
One
of
the
other
one
of
the
other
big
big
issues
for
us
has
been
the
distinction
between
subsidized
restricted,
affordable
units
and
market
rate
units.
Obviously,
the
creation
of
affordable
homeownership
units
in
boston
is
a
critical
need,
was
always
more
need
for
resources
and
more
opportunity
to
do
more.
L
We
saw
an
increasing
share
of
our
one
mortgage
ones
in
boston
in
destructive
units,
because
there
was
simply
nothing
in
the
market
available
that
folks
could
could
buy,
with
with
their
current
incomes
with
oneplus
boston.
We've
seen
a
pretty
substantial
shift,
but
we'd
love
to
see
more
62
percent
of
the
loans
closed
to
date
have
been
in
market
properties.
The
rest
have
been
in
de-districted
units.
We
would
love
to
see
a
higher
higher
numbers
overall,
but
particularly
higher
number
higher
numbers
in
private
private
market
rate
units.
L
L
The
last
thing
I
would
mention
it
just
I
have
to
make
a
pitch
for
the
governor's
proposal
to
dedicate
a
billion
dollars
in
arpa
american
rescue
plan
act,
funds
for
home
ownership,
of
which
300
million
would
be
specifically
to
expand
mortgage
options
for
for
communities
and
populations
that
were
disproportionately
impacted
by
by
the
pandemic.
That
certainly
includes
boston
and
many
boston,
neighborhoods
maha
immediately,
I
think,
proposed
the
billion
dollars
become
1.5
billion,
and
that
would
be
great
too,
but
I
think
it's
really
important.
We
have
resources
available
to
the
commonwealth.
L
Now
that
can
expand
successful
initiatives
like
oneplus
boston.
The
legislature
has
not
yet
acted
on
the
governor's
recommendation.
I
think
that
will
resume
in
september,
but
I
think,
support
from
all
of
you
would
be
really
helpful
in
ensuring
that
a
significant
share
of
those
federal
opera
funds
are
available
for
programs
like
oneplus
boston.
M
That's
that's
right,
hello,
chair
edwards
and
counselors
of
the
committee
on
housing
and
community
development.
Thank
you
very
much
for
inviting
me
today.
I'm
yannick
radcliffe
assistant
vice
president
of
the
urban
institute's
housing
finance
policy
center.
I
do
need
to
say
the
views
I
express
here
today
are
my
own
and
should
not
be
attributed
to
the
urban
institute.
It's
board
or
funders.
M
So,
as
we
all
know
here
well,
homeownership
brings
many
benefits.
Homeowners
are
more
civically,
engaged
experience
better
mental
and
physical
health
and
have
a
greater
sense
of
control
over
their
lives.
Financially.
They
lock
in
most
of
their
long-term
housing
costs
with
a
fixed-rate
loan
and
with
each
monthly
payment.
They
build
more
equity,
even
with
modest
appreciation,
and
investment
in
the
home
can
easily
beat
the
return
from
putting
the
down
payment
into
the
stock
market.
Instead,
these
facts
together
make
homeownership
the
cornerstone
of
wealth
in
the
u.s,
where
homes
are
most
households
largest
asset.
M
M
Historically,
however,
in
large
part,
because
of
government
policies,
white
families
were
helped
into
these
benefits,
while
families
of
color
were
largely
denied
them.
Today,
some
75
of
white
households
own
homes,
yet
less
than
half
of
black
and
latinx
households
do
and
the
gaps
in
boston
are
even
starker
compounding
over
generations.
This
has
contributed
to
a
striking
wealth
disparity
for
every
dollar
held
by
the
median
white
family
nationally,
the
median
black
family
has
about
a
dime.
M
M
We
calculated
about
235
000,
mortgage-ready
millennials
of
color
living
in
the
boston
area
in
the
msa.
This
means
they
have
the
income
and
credit
to
potentially
qualify
suggesting
the
down
payment
is
a
big
missing
piece.
Many
of
these
young
adults
of
color
cannot
turn
to
their
parents
for
help
the
down
payment.
The
median
wealth
of
white
young
adults.
Parents
nationally,
is
215
000,
compared
with
less
than
15
000,
less
than
15
000
for
the
parents
of
black
young
adults
and
less
than
35
000
for
the
parents
of
latinx
young
adults.
M
So
obviously
that
is
not
a
whole
lot.
That
does
not
leave
a
whole
lot
of
room
to
help
your
kid
with
a
down
payment
in
boston
and
have
any
cushion
left
yourself
down.
Payment
assistance
can
break
this
cycle,
especially
if
it
is
targeted
to
those
who
haven't
had
access
to
the
intergenerational
wealth
building
benefits
of
home
ownership.
I
commend
maha
and
your
city's
work
on
down
payment
assistance
programs.
M
Note
that
our
research,
our
research,
shows
that
only
continuous
home
ownership
by
parents
led
to
statistically
higher
home
ownership
for
their
children.
In
other
words,
parents
having
a
late
start
to
home
ownership
or
intermittent
episodes
of
home
ownership
does
not
have
the
same
wealth
building
effect
as
sustained
home
ownership.
Stash
recognizes
this
in
part
by
including
people
whose
parents
lost
homes
during
the
foreclosure
crisis.
M
Now
the
standard
definition
of
a
first-time
home
buyer
is
someone
who
has
not
owned
in
the
prior
three
years.
Applying
that
definition
to
both
the
buyer
and
their
parents
give
us
a
larger
potential
pool,
4.37
million
36
percent
of
whom
are
black
and
28
latinx
down
payment
assistance
can
help
these
households,
as
we
have
heard
today,
by
putting
homeownership
within
reach
for
people
with
less
access
to
parental
wealth.
M
It
also
helps
them
become
homeowners,
sooner
giving
them
more
years
for
the
wealth
building
effects
to
accrue,
and
it
can
make
for
a
stronger
borrower,
with
a
greater
financial
cushion,
lower
payments,
more
equity
and
with
home
buyer
education.
More
knowledge.
All
this
suggests
that
stash
is
a
big
step
in
the
right
direction
and
we
are
eager
to
learn
from
it.
I
look
forward
to
any
questions.
Thank
you.
A
G
K
K
We
have
no
housing
opportunities
in
in
austin
brighton
and
we
are
up
against
the
needs
of
so
many
college
students
that
and
their
need
for
housing
that
any
housing
that
comes
on
the
market
is
bought
up
by
investors.
Who
can
realize
significant
cash
flow
by
renting
to
several
units,
several
students
in
in
each
unit,
so
until
and
unless
our
our
university
neighbors
are
willing
to
invest
in
affordable
housing
on
their
campuses.
K
We're
going
to
continue
to
lose
that
housing
for
for
families
in
our
community
and
in
in
austin
brighton
since
2020
since
2010.
According
to
the
cdc's,
rising
rents,
closing
doors
report,
our
prices
have
gone
up:
70
percent
for
for
single-family
homes
and
nearly
doubled
for
two
and
three
family
homes
for
for
folks
in
the
community.
K
D
K
Are
having
that
be
their
retirement,
which
certainly
makes
sense.
So
as
this
as
this
affordability
gap
continues,
and
we
know
that
the
production
of
truly
affordable
housing
is
is
not
keeping
pace.
There's
a
little
bit
of
a
caution
that
I
want
to
offer
in
here.
The
truly
affordable
housing
that
we
are
creating
much
of
it
with
idp
is
something
that
is
certainly
able
to
stabilize
and
assist
families
in
terms
of
identifying
other
opportunities
for
investment.
K
K
Redevelopment
in
brighton
has
a
three
percent
increase
cap
for
resale
on
those
properties.
So
if
you
know
in
the
last
couple
years,
we've
gone
up
14
folks
that
are
able
to
sell
homes
at
those
increased
values,
are
gaining
wealth,
they're
not
gaining
it
when
they
are
trying
to
resell
if
they
need
to
their
their
deed,
restricted
units
and
in
our
in
in
many
cases
they
also
have
to
have
prior
approval
from
the
bpda
to
to
make
sure
that
they
don't
incur
any
kind
of
of
penalties.
K
O
Good
afternoon,
everyone
thank
you
counselors
for
allowing
me
to
give
testimony
today.
My
name
is
megan
monson
and
I'm
the
home
ownership
and
counseling
programs
manager
at
austin,
brighton,
cdc,
we're
a
small
community
based
non-profit
with
a
focus
on
housing
and
providing
services
to
the
neighborhoods
and
residents
of
wellston
brighton.
O
So,
right
now
the
average
list
price
for
a
condo
in
austin
and
brighton
is
606.
000
assuming
a
household
is
debt-free.
It
takes
an
annual
income
of
at
least
135
000
to
be
able
to
afford
this
property
most
of
the
clients
that
I
work
with
in
home
ownership
counseling
earn
below
a
hundred
thousand
dollars
annually.
O
Yes,
the
oneplus
boston
program
has
stepped
in
and
alleviated
a
bit
of
this
pressure
by
increasing
the
purchasing
power
of
low-income
households,
but
in
allston
in
brighton.
The
bottom
tier
of
market
rate
properties
is
usually
a
300
square
foot
studio
or
a
500
square
foot
one
bedroom
unit,
which
is
not
something
that
families
can
can
purchase,
and
it
takes
another
hundred
thousand
dollars
of
purchasing
power
to
reach
the
the
lowest
price
two
bedroom
unit.
O
In
the
last
year,
43
percent
of
home
buying
101
graduates
indicated
that
their
first
generation
home
buyer.
They
would
be
the
first
in
their
family
to
own
their
own
home.
If
they're
successful
navigating
the
process,
whatever
assets,
they
have
it's
likely
that
they've
created
them
themselves
rather
than
received
any
help
from
prior
generations,
so
they're
starting
off
on
different
footing
than
those
whose
parents
own
their
own
home,
and
they
need
to
be
able
to
take
advantage
of
much
more
robust
assistance
programs.
O
So
let
me
catch
where,
where
did
I
end
up
here
so
in
in
the
last
year?
Most
of
the
clients
that
I've
worked
with,
who
have
successfully
bought
in
boston,
have
been
able
to
do
so
because
of
the
one
plus
boston
program
or
the
luck
of
winning
an
affordable
housing
lottery.
Sometimes
both
of
those
combines.
O
O
O
Now
I
have
the
same
difficult
conversations
with
any
household
making
up
two
and
above
a
hundred
thousand
dollars
per
year.
That's
because
when
these
households
get
pre-approved
and
start
shopping
for
a
home,
they
have
intense
market
competition
to
contend
with,
and
we've
heard
about
that
competition
from
some
of
our
other
presenters.
Today,
these
households
did
not
have
the
kind
of
savings
that
they
would
need
to
make
a
competitive
offer
one
that
offers
well
over
the
asking
price.
O
So
if
we
as
a
city
want
to
help
disadvantaged
but
hopeful
first-time
home
buyers,
we
need
even
more
robust
assistance
programs.
Before
the
pandemic,
we
were
focused
on
making
sure
down
payment
and
closing
costs
were
not
a
barrier
to
home
ownership
and
some
really
creative
and
impactful
solutions
were
established.
O
To
do
that,
and
I
think
now
we
need
more
creative
and
impactful
solutions
to
significantly
increase
purchasing
power
so
that
more
market
rate
properties
are
brought
within
the
reach
of
low-income
households,
and
I
really
appreciate
the
work
that
everyone
has
been
doing
on
all
housing
fronts
in
the
city
and
know
that
we
have
some
brilliant
minds
working
to
solve
these
current
issues.
Thank
you
very
much.
J
It's
good
to
be
here,
it's
good
to
see,
clark
that
you
have
a
senior
moment
so
that
I
feel
better
to
hear
you
when
you
testify
on
that.
So
I
will.
I
will
follow
your
suit
on
that.
So
what
I?
What
I
didn't
hear
today,
is
about
naca
and
about
what
we
do
so
just
a
little
bit
of
background.
We
started
in.
We
started
in
boston
with
the
hotel
workers.
J
Workers
union
here
we're
the
first
to
actually
negotiate
a
housing
trust
fund
and
we
took
on
were
the
first
to
take
on
a
large
sale,
large
scale,
predatory
lending.
We
actually
coined
the
term
predatory
lending
in
our
campaign
in
dorchester
on
the
second
mortgage
scam
that
was
going
on
there
in
the
late
1980s
naca
and
through
its
housing
subsidiary
is
the
largest
housing
counseling
agency
in
the
country.
J
You
know
in
boston,
we've
done
over
1700
closings
in
boston
and
we
provide
the
best
mortgage
in
this
country,
and
so
let's
go
through
that
in
a
second,
because
we've
heard
about
this,
so
there's
no
government
assistance
as
part
of
this,
so
we
overcome
the
major
roadblocks
to
affordable
home
ownership,
number
one,
the
need
for
significant
savings,
the
knack
of
solution,
no
down
payment
and
no
closing
cost.
So
let
me
say
that
again
the
bank
requires
no
down
payment
and
the
bank
pays
all
the
closing
costs.
J
Secondly,
restrictive
underwriting
at
naca
we
do
character
based
lending.
What
does
that
mean?
That
means
we
do
net.
We
never
consider
the
credit
score,
never
consider
a
credit
score.
We
look
at
the
payment
history
that
someone
makes
over
the
last
12
to
24
months
and
we
exclude
the
payments
that
they
don't
the
late
payments
that
they
do
not
control,
meaning.
If
someone
has
unaffordable
medical
bills,
that's
not
a
reflection
of
whether
they're
ready
for
home
ownership.
J
We
don't
consider
that
in
our
criteria,
compensating
factor
character-based
lending
number
three
unaffordable
terms:
everybody
going
through
everybody
gets
no
down
payment
and
no
and
no
closing
costs
and
today's
rate
at
a
below
market
fix
rate.
Today's
rate
for
a
30-year
mortgage
is
two
percent
two
percent
for
a
15-year
mortgage.
J
It
is
1.25
and
then
you
can
buy
it
down
so
so
so
so
a
lot
of
homeowners,
you
know
get
close
to
zero
percent
interest
rate
last
thing
to
deal
with
racism
and
biases.
We
do
comprehensive,
counseling,
the
most
comprehensive
out
there
in
the
country,
so
it's
full
document
underwriting
full
document
counseling.
So
we
verify
with
pay
stubs
bank
statements,
w-2s
all
those
things
to
do
that.
So
when
someone
is
nacca
qualified
they
they
are
basically
pre-approved,
so
they
become
a
desirable
buyer
for
real
estate
agents.
J
J
J
Sure
so
let
me
do
that.
So
the
one
thing
is,
so
you
shouldn't
be
throwing
away
your
money
for
down
payment
and
closing
costs.
That's
a
waste
of
your
money.
The
other
thing
is,
I
think,
there's
a
little
too
much,
but
I've
heard
of
of
what
I
consider
a
happy
talk.
You
know
if
you're
serious
about
doing
affordable
housing
in
the
city
of
boston.
You
should
require
the
developers
out
there
to
do.
J
30-
and
I
say
50
of
their
units
need
to
be
affordable
if
they
say
that
they
can't
make
it
affordable,
because
it's
a
50
percent
requirement
have
them
show
you.
The
developments
have
them
show
their
show
you
their
cost
to
do
that,
and
then
you
can
make
the
adjustments,
but
the
fact
that
what
I'm
hearing
now
in
this
hearing-
it's
so
few
units
and
it's
so
much
money
that
you're
throwing
at
it-
that
you
don't
need
to
throw
away
and
you're
just
you're
accomplishing.
J
So
you
know
very
little
out
there,
so
you
have
to
have
a
reality
check
out
there
and
saying
you've
got
to
do
it
on
a
much
bigger
scale.
To
do
that,
whether
you
use
naca
or
you
use
others-
and
the
last
thing
I'll
say,
is
to
work
with
the
city
of
boston.
Remember
we're
in
50
states.
It
is
one
of
the
most
difficult
bureaucratic
processes
to
make
work
and
it's
really
frustrating.
We
should
do
a
lot
more
business
in
you
know,
boston.
J
We
get
500
to
1000
people
coming
to
our
workshops,
every
two
weeks
in
boston,
just
in
boston
in
the
boston
area.
It's
just
really
difficult
to
deal
with
and
say,
boston,
and
you
need
to
have
a
reality
check
out
there
and
please
just
stop
the
happy
talk
out
there.
You
got
to
do
a
better
job.
Thank
you.
C
Thank
you,
mr
marks.
All
right
we're
going
to
go
now
to
counselor
questions
and
all
I'm
I'm
taking
over
chairing
as
the
vice
chair
of
the
committee,
so
I'll
I'll
start
and
then
go
to
my
colleague,
counselor
braden.
I
guess
a
question.
You
know
clark
simone,
yannick,
yannick
offered.
You
know
some
thoughts
about
ways
in
which
we
might
adjust
the
first
generation
definition.
C
You
know,
mr
mark
just
shared
some
thoughts
on
things
going
forward.
I
guess
one
of
the
things
that
we're
all
talking
about
has
come
up
a
few
times
and
maureen's
brought
it
up
is
the
idea
of
putting
some
more
funds
in
from
our
arpa
funds
towards
home
ownership?
It's
something
that
the
state's
looking
at
doing,
but
you
know
it's
also
part
of
a
city
conversation,
and
I
guess
my
question
is
sort
of
to
get
people's
different
perspectives
here
and
same
thing.
Shayoka.
C
If
you
want
to
say
on
behalf
of
gbio,
you
know:
where
do
you
think
the
marginal
additional
dollar
on
homeownership
needs
to
be
spent
right
like
is
it?
Is
it
a
question
of
of
amping
up
one
of
the
programs
we've
talked
about
today,
a
new,
a
new
dynamic
of
that
like
what's
like?
What
do
you
think
is
the
place
if
you
can,
if
you
add
an
additional
dollar
where
you
would
put
it
and
maybe
clark,
I'm
happy
to
be
staring
at
you
in
my
screen,
so
I'll
go
to
you.
L
Sure
a
couple
things
one
is
interest
interest
rate
reduction
is
by
far
the
best
bang
for
the
buck.
I
think
it's
not.
It
certainly
isn't
simple
to
get.
We
we've
had
with
one
mortgage
of
a
discount
rate
for
everybody
of
at
least
30
basis
points
below
market
rates,
but
going
another
full
percentage
point
below
that
has
been
kind
of
a
big,
a
big
lift
with
the
banks
that
the
bank
for
the
buck.
There
is
huge.
L
The
other
thing
I
would
I
would
respectfully
disagree
with
bruce
about
about
not
spending
money
on
down
payment
assistance.
That's
really
it's
really
less
down
payment
assistance
and
more
gap,
filler
around
the
difference
between
what
what
the
buyers
were
trying
to
serve
can
afford
and
what
the
market
prices
are
properties
in
the
city
of
boston.
L
So
so
a
mortgage
can't
if
a
buyer
can
only
qualify
for
so
much
mortgage
and
at
some
level
without
filling
that
gap
in
some
fashion,
you're,
just
putting
most
properties
in
the
city
out
of
reach
of
the
buyers
we're
all
trying
to
serve.
So
I
would
say
in
the
first
instance,
interest
rate
buy
downs
are
the
most
effective
use
of
public
money,
but
you
really
do
need
to
fill
the
gap
between
between
the
most
that
you
can,
the
borrower
can
borrow
and
and
what
it,
what
it
costs
to
buy
property.
B
Obviously
the
supply
of
affordable
housing
and
affordable
homeownership
opportunities
needs
to
be
expanded
greatly,
and
there
is
so
much
money
coming
in.
So
we
are
really
interested
in
also
looking
at
those.
You
know
how
how
money
could
be
spent
on
in
in
that
direction
as
well,
but
yeah
we're
sort
of
an
active
research
mode
to
to
answer
that
question
for
ourselves.
C
Like
I
mean
it
would
cost
around
this
idea
of
kind
of
trying
to
get
to
a
thousand
new
homeowners
in
boston
in
five
years,
and-
and
you
know,
I
don't
think
we're-
we've
include-
we've
increased
the
supply,
but
I
don't
think
we're
on
track
for
that
right
now
or
do
you
think
we
are
yes,
okay,
you
think
we
are
good.
That's
better!
Better!
Still,
here.
F
So
yes
we're
on
track
for
that,
and
I
don't
have
the
specific
numbers
in
front
of
me,
but
but
I
know
we're
on
track
because
we
track
it
all
the
so
yeah
so
and
I
I
would
echo
what
others
have
said
about
the
the
interest
rate
we've
been
kind
of
told
by
the
lenders
that,
with
one
plus
boston,
we
were
getting
the
interest
rate
down
to
basically
the
cost
of
money
as
they
call
it
so
getting
below
two
percent
for
them
was
getting
like
whoa.
You
know
they
were
like.
F
Oh
you
know,
but
we've
had
buyers
buy
and
karen
can
confirm
this
with
like
1.75
interest
rate,
so
getting
to
kind
of
their
cost
of
money
as
low
as
we
can
go
really.
Does
it
provides
an
exponential
boost
to
the
buying
power
that
down
payment
alone
can't
do
so
yeah.
So
I
don't
know
if
that
helps,
but.
I
I
C
Great,
that's
amazing,
yeah,
and
I
guess
just
a
thing
to
say
to
dnd
is
that
I
would
hope
you
know
and
to
the
advocates
you
know
at
maha
and
gbo
is.
If,
if
we
manage
to
get
the
state
funding,
you
know
the
whether
it's
half
a
billion
dollars
or
a
billion
dollars
for
home
ownership
or
whatever
you
know
that
you
know
continuing
to
think
along
the
lines
of
oneplus
boston
which
to
me
is
about
you
know
their
statewide
programs.
C
But
then
there's
the
question
of
how
do
we
keep
families
and
especially,
like
you
know,
enable
families
of
color
to
buy
in
boston?
And
my
you
know,
I
I
feel
as
though
the
oneplus
boston
program
is
partly
us
looking
at
clark's,
very
good
one
mortgage
program
and
saying
okay.
But
what
do
we
need
to
really
like
move
extra
to
move
the
needle
in
boston?
C
F
Yeah
and
for
us
it's
the
helping
the
individual,
like
the
buyer
on
the
demand
side
and
then
helping
to
make
sure
that
we
have
that
stock,
so
the
affordable
stock-
and
I
know
joanne-
talked
about
some
of
the
challenges
with
deed
restricted
properties,
but
so
we
like
to
balance
it
right.
So
we
need
that
affordable
stock
so
that
we
always
have
it
so
that
it's
it's
not
in
perpetuity,
but
it's
it's
meant
to
that.
F
Neighborhoods
would
be
financially
or
in
that
way,
integrated
long-term,
but
we
also
helping
the
buyer
and
our
our
programs
don't
require
our
buyer
programs
don't
require
a
deed
restriction.
Just
a
mortgage
is
really
important.
Someone
from
dnd
texted
me
the
update,
we're
93
of
our
goal:
we've
assisted
572
buyers
with
home
ownership
as
of
july
31st,
so.
C
And
then
my
last
question
before
I
go
to
counselor
brayden
for
yannick,
and
I
really
appreciate
you
joining
us.
It's
one
of
the
pleasures
of
zoom
hearings
is
that
we
can
invite
folks
from
all
over
and
not
just
people
who
can
make
their
way
down
to
city
hall
physically.
But
I
just
wonder
if
you
could
give
us
a
little
bit
more
sense,
because
you
know
how
to
kind
of
how
how
to
amplify
in
a
sort
of
research
based
impactful
way.
C
This
first
generation
stuff,
because
I
think
we're
very
proud
of
the
fact
that
we
really
do
think
that
this
idea
has
kind
of
originated
from
boston
and
that
it's
a
good
way
of
within
the
confines
of
protected
classes
and
fair
housing
law.
Of
really
addressing
the
fact
that,
of
course,
our
our
racial
wealth
gap
and
our
homeownership
and
balance
was
a
race
conscious
policy
in
the
sense
of
being
a
racist
set
of
policies.
And
then
you
know
that
really
it's
pretty
hard
to
reform
that
without
some
kind
of
race.
Conscious
targeting.
C
C
M
Well,
as
a
researcher,
I'm
always
going
to
applaud
anybody's
interest
in
doing
evaluations,
or
you
know,
learning
from
what
you're
doing,
as
as
it
is
really
groundbreaking.
I
think
there's.
There
is
a
lot
to
be
learned
here.
I
can
say
that
the
federal
proposal,
in
addition
to
looking
at
a
slightly
more
expansive
definition
of
first
generation
home
buyer
they're,
also
looking
at
larger
amounts.
M
I
think
the
proposed
amount
in
one
case,
for
example,
is
twenty
thousand
dollars
down
payment
assistance
and
maybe
even
more
in
high
cost
areas,
and
they
are
I'm
not
sure
what
the
income
limits
are
for
the
maha
program.
I'm
sorry,
but
you
know,
I
think
the
federal
proposals
are
looking
at
something
at
120
percent
of
every
median
income
or
perhaps
even
even
higher,
because
I
think
when
they
they
realize,
when
they're
getting
at
that
first
generation
swap
they
can.
M
You
know
there
are
there's
history
that
has
prevented
people
despite
their
income
and,
despite,
despite
you
know,
their
efforts
to
become
homeowners
and
to
pass
that
generational
wealth
on
related
to
intergenerational
wealth.
You
know
the
other
barriers
are
credit,
score
and
and
and
income
income
and
opportunity
and
education
kind
of
bundled
together
to
me.
Those
feel
a
lot
like
they're
related
to
intergenerational
and
racially
based
opportunities,
and
so
you
know
those
are
key
barriers
in
the
underwriting
process.
M
So
those
might
be
something
else,
and
I
think
we've
heard
some
things
today
about
how
programs
are
trying
to
overcome
those,
but
those
continue
to
bear
looking
at-
and
I
think
you
know
everybody's
right-
it
there's
no
single
one
silver
bullet,
you
know
down
payment.
Assistance
alone
is
not
going
to
solve
this
problem.
M
The
I'll
I'll
draw
your
attention
to
the
black
homeownership
collaborative,
which
is
a
national
effort
that
has
a
seven
point
plan
for
getting
to
three
million
net
new
black
homeowners
by
2030,
and
so
in
order
to
do
that,
you
have
to
think
about
access
and
education
and
outreach.
You
have
to
think
about
down
payment
assistance.
You
have
to
include
lending
standards,
you
have
to
also
think
about
supply,
absolutely
and,
and
then
you
have
also
it's
not
enough
to
just
put
people
in
homes.
M
You
have
to
help
them
stay
there,
and
so
the
way
service
loans
is
important
to
all
this,
all
undergirded
by
civil
consumer
rights
and
fair
housing
and
fair
lending.
So
I'm
sorry,
I
can't
give
you
the
one
silver
bullet
answer
that
you
may
be
looking
for.
I
do
believe
that
targeting
and
thinking
very
closely
about
whether
you're
leveling,
the
playing
field
or
or
kind
of
conferring
further
advantage
to
already
advantaged
people
is
a
very
important
first
step
to
taking
designing
these
programs.
C
C
When
I
become
a
homeowner,
I
will
be
a
first
time
home
buyer,
but
but
that
will
be
in
the
context
of
a
family,
that's
owned
homes
for
many
generations
right
and
that's
just
such
a
different
situation
than
what
we're
really
trying
to
move
the
needle
on
here.
So
I
I'm
glad
that
we're
sort
of
zoning
in
on
that
greater
level
of
specificity,
counselor
braden,
thanks
for
co-sponsoring
you
want
to
get
to
your
questions.
C
D
You,
I
think
the
one
thing
we
struggle
with
in
this
neighborhood
in
austin
brighton
is
the
just
the
difficulty
in
in
in
supply
like
when
we
do
get
housing
we're
building.
What
is
it
10
000
units
of
housing
out
here,
joanne
and
it's
most
of
its
rental
and
we
and
most
of
the
small
units.
So
I
I
don't
know
in
terms
of
is
there
any
way
we
can
mandate
that
a
certain
proportion
of
the
housing
has
to
offer
home
ownership?
D
Like
I
I
I
don't
know,
I
don't
know
what
tools
we
have
in
the
kit
in
terms
of
incentivizing
developers
to
build
more
home
ownership
or
to
or
to
support
some
of
our
non-profit
developers
to
to
develop
some
more
home
ownership.
Again,
we
don't
have
land
to
build
on,
except
for
one
very
large
landowner
out
here.
Who
owns
a
lot
of
that?
D
D
K
That's
family-friendly,
inventory
and
I'm
just
curious
about
in
terms
of
what
maureen
and
karen
and
and
megan
what
you
might
be
seeing
as
well
in
terms
of
what
the
requests
are
for
some
of
those
larger
family
units.
I
know
for
my
families
that
have
watched
90
antwerp
street
go
up
and
there's
there's
some
units
with
three
bedrooms
and
they're
like
oh.
K
F
F
For
many
years
now
the
city's
been
on
its
own
in
terms
of
funding
homeownership
units
on
the
production
side,
so
the
state
hasn't
been
in
the
game
for
many
many
years,
they're
they're
getting
back
in
the
game
with
the
commonwealth
builder
program
and
because
they're
getting
back
in
the
game
that
will
increase
our
event,
our
resources
to
build.
Because,
up
to
this
point
it's
been
only
city
resources.
F
So
now
we
also
have
the
availability
of
arpa
funds
right,
so
that
takes
us
in
an
exponential
way
to
help
do
more
production,
we're
trying
to
think
of
creative
ways
to
do
production.
So
it's
not
just
new
construction.
But
what
can
we
do
with
not
nowhere
the
cdc
but
naturally
occurring
affordable
housing,
so
our
aop
program
that
provides
about
a
hundred
thousand
dollars
per
unit
for
small
developers
and
nonprofits
to
purchase
off
the
the
private
market
and
to
make
those
long-term
affordable?
F
So
we're
thinking
of
those
ways
like
what's
out
there
already,
that
we
can
purchase
that
we
might
not
have
to
build
from
the
ground
and
and
convert
into
home
ownership
or
make
home
ownership
long
long
term.
So
we're
looking
at
all
of
those
ways,
but
I
think
the
additional
resources
from
the
state
and
now
the
federal
resources
will
really
begin
to
expand,
not
to
use
maha's
term
but
expand
the
pie
even
more
than
we
could
ever
have
done
with
city
resources
on
its
own.
F
But
I
don't
know
if
karen,
if
you
have
anecdotal
information
about
our
buyers
and
whether
they're
asking
for
larger
units,
I
know
we're
producing
them
in
our
nhi
program,
so
we
produce
singles
and
two
families
through
nhi.
Two
families
are
very
expensive
to
build,
but
we
do
and
those
are
large
large
units,
sometimes
two
and
three
bedrooms,
but
karen.
I
don't
know
if
anna
julie,
if
you've
seen
an
increased
demand
for
larger,
but
you
know
more
bedroom
unit.
You
know,
I
mean
more
larger
bedrooms,
more
bedroom
size.
I
So
the
demand
is
there
and
the
need
is
there.
It's
not.
I
mean
right
now
is
just
the
pricing
market,
it's
so
high
that
they're
not
able
to
afford.
So
what
we're
seeing
is
that
larger
families
are
moving
out
of
boston
because
they
cannot
afford
it,
but
there
is
a
need.
There
is
a
need.
We
hear
it.
We
hear
it
every
day.
Just
so
you
guys
know.
We
took
over
290
applications,
we
process
over
290
applications
last
year
for
the
oneplus
boston
program
and
a
lot
of
those
applications.
I
We
did
multiple
for
singles,
condos
and
twos,
and
three
families
and
our
chart
will
show
that
we're
we're
seeing
more
condo,
more
condos
being
purchased
because
that's
what
people
could
afford,
but
there
is
a
need
to
get
larger
units
larger
room
size.
I
suffered
that
my
my
own
family.
I
did
it,
I
I
mean
just
last
year.
You
know,
like
my
had
to
to.
I
Luckily
I
owned
my
house
and
I
had
to
go
to
the
city
and
and
expand
and
need
the
permit
to
expand
my
own
property,
because
I
was
having
the
same
need.
My
family
grew
up.
My
kids
grew
up,
so
there
is
really
a
very
demand
and
in
in
on
that
part,
so
we've
seen
we've
seen
the
need
on
that
and
we
hear
it
every
day
with
our
constituents
too.
D
L
Just
to
benchmark
this
a
little
bit
the
with
oneplus
boston,
today,
market
rate
single-family
homes,
the
average
is
46
468
000.
and
that's
the
low
end
that
is
literally
the
low
end
of
the
market.
So
I
think
you
know
that's
really.
The
the
problem
here
is
that
the
properties
that
are
in
that
you
know
in
that
category
just
way
out
of
reach.
D
And
and
our
buyers
are
competing
with
cash
offers
from
folks
who
come
in
with
800
900
million
dollars
and
and
buy
a
two-family
home
for
cash.
So
it's
a
really
difficult
challenge,
but
you
know
here
we
are
we're
all
gonna,
we're
gonna
we're
gonna
keep
going
at
this.
Madam
chair,
I
know
there's
other
folks
waiting
to
to
make
comments,
so
I
will
not
ask
any
further
questions
this
time.
Thank
you.
C
O
C
Mean
it's
just
gotten
so
crazy
that
I
wonder
like
do
we
see
sellers
who
are
resistant
to
selling
to
home
buyers
who
have
these
two
approval
letters
right,
like
both
you,
you
know
both
the
regular
mortgage
letter
and
then
the
oh,
the
city
will
get
phil
like
do
we
require
our
I
mean.
Presumably
our
buyers
need
a
mortgage
contingency
and
I
don't
know
if
we're
requiring
an
inspection
contingency.
I
know
that
currently
in
the
market
in
boston,
it's
gotten
so
overheated
that
it's
quite
common
to
have
sellers
demanding
functionally
that
people
waive
both
of
those.
C
So
I'm
sort
of
curious
about
on
this,
like
how
much
people
are
getting
boxed
out
just
by
those
kinds
of
elements,
and
then
maybe,
if
you
could
also
it's
a
slightly
separate
question
but
sort
of
you
know
there
was
a
reference
to
the
fact
that
we
started
with
three
lenders
on
one
plus
boston.
We've
gone
to
six,
but
I
think
we
have
considerably
more
on
the
one
mortgage
program.
Is
that
right
car?
F
F
It's
not
gonna
happen
right,
so
realtors
are
absolutely
key
to
making
the
deal
happen
and
so
we're
educating
them
all
the
time
we
hold
sessions
for
them
ma
house
held
sessions
for
them
we've
participated
so
that
they
can
get
familiar
with
the
mechanics
of
of
the
program.
I
don't
think
from
from
what
I've
heard
and-
and
others
can
can-
I
don't
know,
provide
more
feedback
on
this.
F
I
don't
think
folks
are
turned
away
by
the
two
letters,
the
the
first,
the
main
lenders
letter
and
hours
once
we,
you
know
the
same
realtors
kind
of
work
with
first-time
homebuyers
in
the
city
of
boston.
It's
kind
of
a
small
group
and
they're
they're
used
to
that
that
two-letter
format,
but
the
cash
fire
going
up
against
them
is
a
problem.
So
I
would
say
it's
that
that's
the
reality.
I
don't
know
if
clark
or
simone,
if
you
have
other
things.
N
So
it
is
around
educating
our
seller
brokers
about
how
to
maintain
home
ownership
within
the
the
community
instead
of
selling
it
to
investors
that
are
going
to
either
use
it
for
airbnb
or
whatever,
and
is
not
there
to
help
to
preserve
our
community.
That,
I
think,
may
be
something
that
we
could
think
about.
You
know
starting
to
implement
some
kind
of
different
training
classes
for
our
realtors,
but
they
the
actual
letters
once
they
the
realtors,
understand
the
process,
as
it
relates
to
the
buying
power
that
comes
with
those
two
letters
and
stuff
there.
L
One
quick
thing:
I'd
add:
we
had
conversations
with
the
city
going
back.
I
don't
know
two
plus
years
now
about
using
buyer
brokers,
to
sort
of
short-circuit
the
cash
buyers
and
we
in
the
city
have
fun.
You
have
funded
a
broker
at
maha
to
sort
of
test
that,
and
I
think
that
I
think
the
idea
if
we
can
come
up
with
a
financing
vehicle
to
sort
of
basically
beat
the
cash
buyers
at
their
own
game.
L
If
there
were,
if
there
were
a
way
to
do
that
and
then
have
buy
pre-qualified
buyers
able
to
step
in
that
would
be
great
and
it's
complicated
and
that's
the
reason
we
that's
the
reason
we
didn't
do
it
right
away
when
we
started
talking
about
it,
but
I
think
there
may
be.
We
have
sort
of
fighting
with
fire
with
fire.
I
think
we
can
find
a
way
to
compete
with
the
cash
buyers
for
for
for
good,
the
kind
of
good
homeowners
we
want
to
see
in
the
city.
That's
really
worth
pursuing.
D
Yeah,
I
really
hope
we
can
come
up
with
some
solutions,
because
you
know
especially
out
here-
and
I
think
mission
hill
also
reflects
this-
that
because
there's
a
demand
for
rentals,
a
speculative
investors
come
in
and
with
cash
and
and
we
end
up
with
a
whole
neighborhood-
that's
absentee
landlords
and-
and
everything
goes
downhill
from
there.
So
we
want
to
see
folks
living
in
their
homes
and
being
part
of
our
community
here.
M
Well,
obviously,
you
probably
know
that
you're
not
alone
here
we've
seen
it's
sort
of
related.
We
have
seen
evidence
that
sellers
are
not
even
willing
to
entertain
offers
from
fha
borrowers,
so
you
know
fha
borrowers
not
need
not
make
an
offer,
and
so
this
this
this
trend
is
certainly
being
experienced.
It's
not
unique
to
your
program
here,
something
that
I
don't
have
any
specific
proposals
for
you
all
to
consider.
But
you
know
there
have
people
been
kicking
around
ideas
around.
Maybe
incentives
for
sellers
to
sell
to
owner.
C
It
certainly
strikes
me
that
if
the
city
could
just
be
you
know
the
city
or
some
publicly
funded
intermediary
entity,
whatever
could
just
be
like
grabbing
things
with
cash
offers
and
then
reselling
them
back
to
you
know
these
pre-qualified
folks
who
are
trying
to
support
that.
That
would
be
a
very
good
thing
for
us
to
do
so.
I
just
wonder
megan
if
you
could
speak
at
all
to
the
austin
brighton
experience
with
that,
I
think
it
involved
attaching
an
owner
occupancy
deed
restriction
to
the
properties.
If
I
recall.
O
Yeah,
that's
correct,
so
basically-
and
I
will
admit
I
don't
understand
the
the
financing
aspect
of
it,
but
how
it
plays
out
is
the
awesome,
great
brighton,
cdc
purchases
properties
in
the
lower
allston
area.
So
the
part
of
austin,
that's
above
interstate
90
below
the
river,
and
so
we
basically
there's
some
work
to
do
beforehand,
because
we
have
to
let
sellers
know
about
the
program.
O
It's
it's
not
that
we're
purchasing
the
homes
with
cash
and
that's
why
they
want
to
sell
to
us
it's
that
they
are
wanting
to
make
a
lasting
impact
in
the
community
and
they
they
find
out
about
the
program
and
realize
that
whoever
ends
up
with
their
home
will
be
an
owner
occupant
and
they.
So
it's
usually
people
who
have
lived
there
for
a
long
time.
O
They
really
care
about
the
preservation
of
the
community
and
they
want
to
see
someone
living
in
their
home
that
actually
owns
it
and
not
turned
into
any
of
these
absentee
landlord
situations
that
we
see,
and
so
we
make
them
an
offer.
That's
based
on
the
market
value
of
the
property,
and
then
we
we
turn
it
around
and
sell
it
to
someone
who
plans
to
occupy
it
as
their
primary
residence,
and
it
does
come
with
the
deep
restriction
that
you
mentioned.
C
G
C
Kind
of
value
community
proposition
that
you're
making
to
people
which
is
important
and
I
think,
could
be
a
piece
of
talking
to
our
realtor
community
about
being
better.
But
I
also
think
like
at
some
point.
We
also
just
need
to
have
market
incentives
that
help
drive
people
clark.
Were
you
going
to
say
something
about.
C
L
I
think
it's
more,
it's
it's
more
about
you!
If,
if
there's
no
inspection,
it's
sort
of
there's
a
certain
level
of
risk
that
you
need
to
sort
of
mitigate
for
the
borrower,
it's
it's
there's,
there's
some
things
that
make
it
a
little
more
complicated,
but
I
think
it's
a
solvable
problem
honestly
with
some
effort
yeah.
Unfortunately,
I
have
to
drop.
I'm
sorry.
C
M
C
We're
up
to
and
how
we
can
strengthen
those
things,
and
so
I'm
just
really
grateful
for
everybody's
time
today,
whether
it's
the
city
folks,
the
dnd,
maha,
gbio,
naca
abcdc,
you
don't
really
use
that
awesome,
brighton,
cdc
and
I'm
afraid
I've
left
somebody
out,
but
oh
well,
of
course,
craig
craig
from
mhp
and
then
yannick.
Thank
you
so
much
again
for
joining
us
and
giving
us
that
wider
perspective.
We
we
are
the
originators
of
many
great
ideas
in
boston,
but
that
occasionally
makes
us
slightly
parochial
as
well.
C
So
it's
good
to
remember
that
there
is
a
land
beyond
the
city,
so
yeah.
Thank
you
all
so
much
and
thank
you
especially
to
my
co-sponsors,
counselor
braden
and
counselor
edwards,
our
chair,
and
so
I
will
now
go.
I
think
about
a
couple
more
folks
from
naca
who
are
gonna,
give
public
testimony
and
we'll
go
into
josh
wilson
and
then
to
jill
konopka,
and
then
we
will
finish
this
out.
C
If
anybody
is
watching
at
home-
and
you
would
like
to
testify-
please
please
shoot
an
email
relatively
quickly
to
ron
ron
dot
c-o-b-b,
that's
ron
cobb
at
boston.gov,
so
ron.com
at
boston.gov,
and
we
can
add
you
to
the
queue,
but
otherwise
we're
going
to
hear
from
josh
and
then
hear
from
jill
and
then
we'll
we'll
be
concluding
the
hearing.
So,
mr
josh
wilson,
you
have
the
floor.
P
Thank
you
so
much
appreciate
the
opportunity
to
just
share
and
be
with
you
in
this
in
this
long
but
important
meeting.
Thank
you,
chair
and
counselors
for
for
making
time
for
this
conversation.
So
I'm
a
resident.
I
live
here
in
dorchester,
I'm
a
pastor
in
the
community
and
I'm
a
recent
first-time
homebuyer
through
the
naca
program,
and
we've
talked
a
lot
about,
and
there
are
others
here
who
know
a
lot
more
about
the
data,
the
statistics
on
kind
of
the
soaring
cost
of
home
ownership.
P
We
knew
that
our
situation
was
temporary,
rents
could
and
certainly
eventually
would
go
up,
and
we
didn't
really
have
enough
room
to
start
a
family,
which
was
something
we
we
were
hoping
to
do.
So
our
housing
situation
was
definitely
a
constant
source
of
stress
for
us
and
for
us,
just
you
know,
moving
out
or
or
going
further
afield,
didn't
feel
like
an
option.
P
P
This
was
our
home,
we're
embedded
in
this
place
and
and
with
these
people,
and
yet,
as
we
were
looking
at
our
finances,
the
escalating
rent
prices,
it
didn't
seem
possible
to
to
reconcile
kind
of
living
here
without
switching
careers
or
abandoning
our
dreams
of
a
family,
and
it
was
right
in
the
midst
of
this
tension
that
friends
began
to
introduce
us
to
some
of
the
programs
that
we've
discussed
today.
We
did
some
counseling
with
maha
and
got
to
know
them
a
little
bit.
P
Eventually,
we
got
pointed
to
naca
because
they
were
able
to
support
us
specifically
based
on
kind
of
our
income
being
just
above
the
limits
of
some
of
the
programs
that
were
available
through
through
maca.
I'm
a
pastor,
so
I'll
tell
you
that
I
think
that
naco
was
actually
like
a
godsend
for
us.
The
program
definitely
changed
the
game.
We
still
weren't
able
to
compete
with
some
of
these
cash
offers.
P
You
know
we
got
outbid
repeatedly
by
contractors
who
were
coming
in
and
wanted
to
renovate
things
and
turn
things
into
condos,
but
the
lack
of
pmi,
the
lack
of
closing
costs.
The
ability
to
have
a
two
percent
interest
rate
gave
us
some
buying
power
that
hadn't
been
possible
before
and
not.
Everybody
was
interested
in
kind
of
our
unique
mortgage
situation,
but
eventually
with
a
lot
of
prayers.
P
Some
referrals,
a
letter
saying:
hey,
we're
nice
people
all
the
things
we
ended
up,
closing
on
a
home
here
in
kind
of
the
geneva
neighborhood
of
dorchester,
just
about
a
10-minute
walk
from
where
we
had
lived
already
and
what
that's
kind
of
opened
up
for
us
is
is
the
ability
to
you
know
have
fixed
housing
costs.
We
now
still
don't
have
enough
room
for
me
to
take
a
call
without
the
possibility
of
my
kid
screaming
in
the
background.
But
but
it's
it's
enough.
P
It's
enough
space
and
you
know,
as
counselor
braden
mentioned
earlier.
It's
the
two
family
route,
where
we're
able
to
kind
of
supplement
our
mortgage
keep
our
costs
relatively
low
and
and
honestly
because
we
were
able
to
use
some
of
these
programs.
We
were
also
able
to
keep
the
rent
for
our
downstairs
tenant
at
below
market,
same
rent
that
he's
been
paying
for
years.
P
As
he's
lived
in
this
building
for
close
to
a
decade,
you
know
our
situation
is
a
success
story
and
I'm
so
grateful
for
for
naka
for
maha
for
some
of
these
other
programs
that
are
doing
so
much
to
create
opportunities
like
this,
and
you
know,
I
want
to
celebrate
that,
and
also
just
immediately
say
that
you
know
it's
it's
what's.
There
is
not
nearly
enough
counselor
edwards
earlier
mentioned
that
this
is
a
racial
justice
issue,
a
moral
issue
I
couldn't
agree
more.
P
I
have
the
privilege
of
of
being
in
this
this
church
community,
that's
multi-racial,
and
when
we
look
around
it's
it's
impossible,
not
to
notice
that
the
folk
who
own
are
white
and
the
people
of
color
are
renters,
and
so
I
do
think
that
this
is
is
a
necessary
oppressing
issue.
So
many
people
are
still
being
left
behind
and
left
out,
and
you
know
these
neighborhoods,
these
neighbors,
these
friends.
They
deserve
some
of
these
opportunities
that
have
been
afforded
to
me
and
to
my
wife.
P
You
know
those
lower
interest
rates,
the
closing
costs
all
played
a
part
of
that,
but
just
wanna
encourage
and
affirm,
and
and
and
celebrate
the
work
that's
going
on
and
also
just
request
that
more
funding
more
priority
be
placed
on
these
programs,
especially
things
that
are
allowing
people
of
color
and
folks
who
already
live
in
the
neighborhood
to
access
some
of
these
homeownership
opportunities
that
are
so
essential
for
for
equity
and
opportunity.
Thank
you.
So
much
appreciate
your
time.