Asset Development Commission
Current News
Asset Development Commission Final Report 
Asset Development Commission Progress Report
Notice of Public Hearing
Public Hearing Notice - Union Station Worcester, MA 
- Tuesday, April 21, 2009
Public Hearing Notice - Spanish Translation
Directions
Background
Section 117 of Chapter 123 of the Acts of 2006, An Act relative to Economic Investments in the Commonwealth to Promote Job Creation, Economic Stability, and Competitiveness in the Massachusetts Economy (the “Economic Stimulus Bill”), establishes an Asset Development Commission. The purpose of this commission is to “study and make recommendations concerning the development of financial assets as a way to ensure that all people in the state of Massachusetts achieve long-term, sustainable economic security and self-sufficiency and enjoy economic opportunity. “
Mission Statement
“All residents of the Commonwealth should have the opportunity to experience financial stability, achieve financial independence, and contribute to civic participation and the economy. Toward that end, the Commission will conduct research, engage constituencies, and make recommendations for policy and practice that ensure Massachusetts residents, especially those who are low and moderate income or asset poor, throughout life have opportunities to develop the assets necessary for sustainable economic security and improved quality of life, and the capacity to end intergenerational cycles of poverty.”
Commission (in full) Information
Membership Listing
Working Group Framework
Notice of Public Hearing; July 14, 2008
Timeline of Commission ActivitiesMeeting Information
March 13, 2008 - KickOff Meeting - Minutes
, Agenda
April 2, 2008 - Family Economic Self-Sufficiency Standard - Minutes
June 2, 2008 - Working Group Structure and Formation - Minutes
June 23, 2008 - Asset Development & State & Federal Tax Policy - MInutes
August 4, 2008 - Asset Limits in Public Assistance & Work Support Program - Agenda
August 25, 2008 - Financial Literacy Educ & Innovations in Financial Services - Agenda
October 6, 2008 - Education and Workforce Development - Agenda
October 27, 2008 - Housing and Community Development - Agenda
November 10, 2008 - Draft Policy Recommendations - Agenda
November 17, 2008 - Possible Legislation - Agenda
December 8, 2008 - Possible Legislation - Agenda
Location
All meetings are held from 2:00 pm - 4:00 pm.
100 Cambridge Street, 2nd floor Conference Room B, Boston
When visiting DHCD at 100 Cambridge Street, Boston, you may pre-register with building security by sending an email to: karen.bresnahan@state.ma.us
Working Group 1 - Very Low Income:
typically provides for the basic needs of self-sufficiency through a combination of low-wage work & heavy dependency on public supports such as housing and childcare vouchers, food stamps, and income assistance.
Working Group 1 Membership Listing
Meeting Information
July 7, 2008 - Working Group Procedures & Process - Minutes
July 22, 2008 - Housing and Community Development - Minutes
August 11, 2008 - Income, Savings, and Credit
September 8, 2008 - Workforce and Business DevelopmentLocation
All meetings held from 3:30 pm to 5:00 pm
DTA - 600 Washington Street, Boston
Working Group 2 - Low Income:
typically provides for the basic needs of self-sufficiency through a combination of just above minimum-wage jobs & modest public supports such as partial housing and child care subsidies. (As income increases & public benefits diminish, the combination of private income & public supports is often less than the full household budget required to meet full basic needs & is also often less than the combined household self-sufficiency income of the very low income families on more comprehensive public support.)
Working Group 2 Membership Listing
Meeting Information
July 8, 2008 - Minutes
July 22, 2008 - Minutes
August 19, 2008
September 15, 2008
Septtember 16, 2008
September 29, 2008
October 15, 2008 (vet all preliminary recommendations for our group)
October 27, 2008Location
All meetings held from 10:00 am to 12:00 pm
Location(s) to be determined
Working Group 3 - Moderate Income:
typically provides for the basic needs of self-sufficiency principally through their own earnings and who qualify for few or no public supports. (Often although not qualifying for most public supports, combined family income is inadequate to pay the full costs of basic needs.)
Working Group 3 Membership Listing
Meeting Information
June 30, 2008 - Minutes
July 21, 2008
August 11, 2008Location
All meetings held from 12:00 pm to 2:00 pm
Boston Private Bank, 10 Post Office Square, Boston
Resources: Relevant Research & Recommended Reading
Center for Social Policy, UMass Boston:
Bridging the Gaps Between Earnings and Basic Needs in Massachusetts
CFED:
Massachusetts Assets and Opportunity Scorecard
Crittenton Women’s Union:
2006 Self-Sufficiency Standard for Boston
Crittenton Women’s Union:
Unlocking the Doors to Higher Education and Training for Massachusetts' Working Poor Families
Institute on Assets and Social Policy, Brandeis University:
Asset Building Policies in Massachusetts
Massachusetts Community & Banking Council:
Expanding Financial Skills in Low-Income Communities
Pew Hispanic Center:
The Wealth of Hispanic Households: 1996 to 2002
United Way of Massachusetts Bay and Merrimack Valley,
Institute on Assets and Social Policy, Brandeis University:
Massachusetts Research Overview, 2006 to 2008
MASSCAP
Community Education and Outreach Report, Phase 1
Contact
Department of Housing and Community Development
Asset Development Commission
100 Cambridge Street, Suite 300
Boston, MA 02114
If you have any questions, please contact:
Karen Bresnahan at 617-573-1441 or karen.bresnahan@state.ma.us or
Neel Chaudhury at 617-722-2060 neel.chaudhury@state.ma.us
Robert Amara at 617-722-2060 Rep.JamesEldridge@state.ma.us