“I wanted to provide a safe home for my son…”
Joshua Poitras, Home Improvement and Lead Removal Loan Client
Joshua Poitras, a single father and U.S. veteran, purchased a four-family house in January 2020. “I wanted to provide a safe home for my son, so I inquired about getting some financial help to have the house deleaded.” The house was built in 1860, and the exterior was last painted in 1978. “Loose paint was falling off,” Joshua said. He also wanted to bring his house into compliance, ensuring that the apartments would be lead safe for his current and future tenants.
Joshua contacted the City of Lowell’s Division of Planning and Development to receive information about MassHousing’s “Get the Lead Out Program”. He was referred to Ed Alcantara at the Merrimack Valley Housing Partnership for assistance with his application. “Ed was extremely knowledgeable in explaining the program and putting the paperwork together. I couldn’t have done this without his help,” said Joshua.
Soon after his lead removal application was started, COVID-19 pandemic restrictions and closures began. However, the project kept moving forward despite the new challenges presented by the pandemic. Once the City of Lowell’s Department of Planning and Development completed the scope of work, the project was put out to bid.
Joshua was then referred to Steve Maguire, MCCI Loan Officer. Joshua was approved for two loans: a lead removal loan and a home improvement loan. The lead removal loan required a 0% down payment, and no monthly payments. The loan is paid back upon the sale or refinance of the house. The structural repairs were done with a second low-interest home improvement loan. “Steve Maguire of MCCI did a great job on the lending side,” said Joshua.
David Foss and Sons, LLC, was the deleading contractor. They sided the house with vinyl, wrapped the windows with aluminum, and de-leaded the interiors. “David was detailed, thorough, and kept the historical character of the woodwork.” said Joshua.
In addition to having a beautiful lead-safe home, Joshua gets a tax credit of $1,500 per unit. “I have a lead-safe home and don’t have to worry about anyone being poisoned,” Joshua said.
Nectar Community Investments, with the Boston Foundation and the Local Enterprise Assistance Fund, provided a $900,000 financing package for construction and launch of a Vicente’s Supermarket branch at 452 Mount Pleasant St. Vicente’s estimates the store has created about 30 construction jobs through 10 contractors, most owned by people of color. Read the Article
Fourth Vicente’s supermarket brings jobs, access to healthy food to South Coast community Nectar Community Investments, in partnership with The Boston Foundation and Local Enterprise Assistance Fund (LEAF), has provided a financing package for the new Vicente’s Supermarket in New Bedford, Mass. The New Bedford store, which opened today as the company’s fourth location, mirrors the approach of its Brockton and Pawtucket, R.I., markets: located in a low- to moderate-income community adjacent to a food desert and making healthy food accessible to historically underserved neighborhoods. “We’re proud to help provide this critical financing to Vicente’s Supermarket as the company expands into New Bedford,” said Nectar Community Investments Executive Director Glynn Lloyd. “Small businesses are the backbone of the Massachusetts economy, and Vicente’s exemplifies that definition: providing healthy food access, creating jobs and positively impacting the community. Thank you to our ecosystem partners at The Boston Foundation and LEAF as well for teaming up with us to make this financing possible.” “In Brockton and Pawtucket, Vicente’s markets are not only meeting a critical need for food — they are central hubs in their communities,” said Orlando Watkins, Vice President and Chief Program Officer at the Boston Foundation. “The Boston Foundation has a longstanding history …
Nectar’s Executive Director Glynn Lloyd spoke to The Bay State Banner about our organization’s innovative approach and a recent award from the CDFI Fund to help fuel our work. Learn more about patient capital, the Business Equity Initiative for Diverse Developers, environmental justice efforts and more in this story.
Non-Discrimination Notice:
In accordance with federal laws and U.S. Department of the Treasury policy, this organization is prohibited from discriminating on the basis of race, color, national origin, sex, age, or disability.
To file a complaint of discrimination, write to: U.S. Department of the Treasury, Director, Office of Civil Rights and Equal Employment Opportunity 1500 Pennsylvania Avenue, N.W., Washington, DC 20220; call (202) 622-1160; or send an e-mail to: [email protected].