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Additional Accomplishment |
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| 9/15/2009
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CND’s portfolio of affordable rental housing includes 204 units- 185% up from a baseline of 110 units in 2005.
Since 2006, with the support of key funders and through tenacious hard work, CND renovated 106 units and 29,000 sf of commercial/office space and built 115 new units of housing. During this period total development costs were $55.4 million.
91% of CND’s housing units are occupied by extremely-low income to low-income households (earning <60% AMI). The remaining 8% of units are occupied by moderate income households (earning up to 80% AMI).
CND’s real estate development activity creates jobs, supports local businesses and increases the tax base for the city of Chelsea. We estimate that the 2009 completion of 48 rental apartments at Spencer Green created 80 jobs; we project a minimum of $2 million will be spent locally by Spencer Green’s 48 households over the next 10 years.
At CND, corporate volunteers are trained to provide free tax filing assistance to low-income households. In 2009, 30 volunteers, mostly from the law firm of Ropes & Grey, assisted individuals to file their tax returns. This work put a total of $835,000 back in to the pockets of our clients and the local Chelsea economy. Our clients had an average income of $17,568 and an average tax refund of $1,561.
In 2008, our Community Enhancement Team led a community multi-faceted graffiti removal campaign in our target neighborhood. As a result, the active caseload of “tagged” properties was reduced by 75%. In 2009-2010, the team is tackling trash collection and recycling.
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