Dorchester Bay Economic Development Corporation

Community services:our community services include tenant organizing which brings together active tenants to promote leadership and tackle critical issues. Within our organizing efforts, programs engage youth in education, recreation, organizing, leadership, and community services. "youth force organizing training and leadership Development, is recognized as one of the strongest youth organizing programs in the state. Our reentry program is the first cdc-based re-entry program in new england for ex-offenders returning to their community. Using our organizing expertise, we have pulled together the a.g.'s office, police, corrections, and other non-profit service partners in this important collaborative. Our computer training programs have helped train adults and youths in computer skills. By placing residents in jobs created by our efforts, and helping build skills for employment, our efforts increase wealth and opportunities.

Loan programs:loan programs provide one-on-one pre-loan and post-loan technical assistance to small business entrepreneurs and borrowers. The business loan fund offers direct loans from $500 to $250,000 (both db capital and sba loans). Dbedc is the only boston area cdc to make direct loans to small businesses. Dbedc's two-pronged strategies of developing commercial real estate and lending to businesses reinforce each other by creating physical spaces for business and also strengthening internal business capacity. Commercial revitalization is giving new life to the commercial districts in our area. We have completed loans to a wide array of different types of businesses.

Project development:project Development acquires constructs and redevelops real estate in our service area with the goal of reducing blight, improving the neighborhood, creating and preserving affordable housing, as well as commercial space that provides jobs, services and places for businesses to grow and thrive. In 2021 we completed construction on a 90-unit residential project (indigo block) and a $12,000,000 commercial project. In 2021 we started construction on a historic project (pierce) and completed construction in 2022 for a total cost of $13,700,000. In 2022, construction continued for leyland street which is converting a 13,000 square foot property into a 42,000 square foot, 42-unit affordable housing senior housing building.

Asset management:asset management focuses on the long term stewardship of the dbedc properties by seeking out physical, social, financial, environmental and policy opportunities that would maximize the value of the portfolio as well as improve the lives of the residents in the properties. At least 1.1 million dollars was spent in capital improvements in the portfolio to make sure the properties remain in good physical shape. 100% of the properties are being tracked on energy efficiency software and on average the portfolio had a 99% occupancy rate. All properties met the debt service requirements.