Today Governor Deval Patrick announced the launch of the first-in-the-nation Pay for Success (PFS) initiative to reduce chronic individual homelessness. This innovative form of financing relies on up-front funds from private investors to expand permanent supportive housing in Massachusetts. If the program is successful, the private investors will be paid back with public dollars.
MHSA has partnered with Corporation for Supportive Housing (CSH) and United Way of Massachusetts Bay and Merrimack Valley to form the Massachusetts Alliance for Supportive Housing (MASH), a subsidiary of MHSA dedicated to creating permanent supportive housing for the poorest and most disabled individuals in the Commonwealth. Through this partnership, the PFS initiative will leverage philanthropic and private capital investments to provide 500 units of stable supportive housing for up to 800 chronically homeless individuals over six years.
Pay for Success Announcement: Press and Photos
“Massachusetts Launches Pay For Success Initiative to Reduce Chronic Individual Homelessness” – Press Release, Commonwealth of Massachusetts
Press Conference Photos – MHSA Facebook Page
“Patrick announces $3.5 million to reduce chronic homelessness” – Katie Johnston (David Abel contributing), The Boston Globe
For more information or media inquiries, please contact Caitlin Golden at email@example.com or 617-367-6447 ext. 28.