The Facilities Consolidation Fund (FCF) was created by Chapter 52 of the Acts of 1993 and amended by Chapter 494 of the Acts of 1993 and is regulated under 760 CMR 19.00. It is a bondfinanced loan program developed to help build community-based housing for clients of the Departments of Mental Health and Mental Retardation. The fund was created as a result of a Facilities Consolidation Plan, developed by the Executive Office of Health and Human Services, which recommended closing some state DMR and DMH facilities and transferring clients to community-based homes.
How it works:
FCF equity loans can be used to finance up to 50% of the total development cost of each project. Loans are deferred for 30 years. After the 30-year affordability period, loans may be extended in 10 year increments. Loans are subject to recorded landuse restrictions that ensure the project provides community based housing for DMH and DMR consumers. This restriction can only be lifted when the loan is fully repaid and the state certifies there is no longer a need for community-based housing. Support services for residents are funded by DMR or DMH. Various types of housing are allowed under the program, but all housing must be certified by DMH or DMR.
Who is eligible:
Nonprofit entities only. The project must also meet the pre-approved needs of the DMR or DMH.
Applications are accepted on a rolling basis. A "One Stop Application" must be submitted and can be found online at www.onestopapp.com. DHCD reviews applications and makes loans to qualifying non-profits through the Community Economic Development Assistance Corporation (CEDAC).
For more information:
Please call the Division of Housing Development at (617) 573-1300.