News

RSS feed for this section

Looking to buy your first home in Amherst?

Valley CDC would like to let our clients, friends, community partners and neighbors know about an exciting new program funded by the Town of Amherst to assist first time homebuyers to buy their first home in Amherst.

 

  • Schedule an appointment with the Homeownership Coordinator
  • Agree to all terms and conditions of the mortgage subsidy program
  • Have the ability to obtain a mortgage loan and pay closing costs
  • Attend a first time homebuyer workshop

 

Applications will be accepted until March 31, 2017.

 

Now is the time to meet with the Homeownership Coordinator to get ready to take advantage of this opportunity.  Qualified buyers will have the opportunity to shop for a home for a 90 day period beginning in April 2017 and enter into a purchase and sales agreement for a home or condo located in Amherst.

 

If you or anyone you know is thinking about buying a home, please pass along this information.  Thanks for helping us get the word out.

 

Income and eligibility restrictions apply.  For more information, please contact Donna Cabana, Homeownership Coordinator – 413.586.5855 x 180 or dc@valleycdc.com

Community Investment Tax Credit: A Big Impact for Valley CDC

violas

In 2014, the Commonwealth rolled out the Community Investment Tax Credit (CITC) Program awarding $3 million in credits to 38 participating organizations from across the Commonwealth. At Valley CDC, we raised approximately 87% of our goal that first year. In 2015, the Commonwealth doubled our award and we raised 150% more in 2015 than 2014. While this is not all new money (it includes existing donors who increased their giving level), it has made a significant impact on the work that we undertake.

We were successful in utilizing all of its 2015 credits as well as the remaining 2014 credits, raising a total of $213,672.

Increasing capacity is vital to ensuring that underserved populations in our service area have access to all levels of homeownership assistance, small business assistance as many people seek self-employment, and affordable housing both for families and individuals, including homes for individuals/families experiencing homelessness.

The success and impact of our 2015 CITC campaign has increased our cash on hand which helps to eliminate stress on the day-to-day operation of the agency. Additionally, we were able to recruit a real estate project manager this spring, which allows us to increase our housing development capacity.

We successfully completed our 38-unit family development – Parsons Village in Easthampton – in August 2015 and all families were in their new homes by mid-October. We are now poised to get funded for the redevelopment of the Northampton Lumber Yard into 55 units of family housing in downtown Northampton.

The success of our CITC campaign has also allowed us to utilize a highly skilled consultant to bring us through a robust strategic alliance and strategic planning process that includes a commitment both to expanded community engagement activities and a real focus on diversity and inclusion. Our July 2016 board retreat focused on diversity and inclusion.

The legislature and the Commonwealth are already seeing the results that the community development field projected would come of this generous tax credit as MACDC aggregates data from the CITC participants. It is truly making an impact on the lives of low- and moderate-income people and other underserved populations in Hampshire County.

$3,000 Grant Available

If you are looking to buy a house in Northampton, we still have $3,000 Community Development Block Grants available, for use as down payment assistance. Please contact Donna Cabana at 413.586.5855 x180 or email her for an application at dc@valleycdc.com

Why Develop A Business Plan?

Planning Your Business #1: Why Develop a Business Plan?

business plan

Why should you develop a business plan?  While you know what you’re planning to do, writing a business plan provides you the opportunity to think and decide about how you’re going to make your business a success.  Developing three years financial projections enables you to determine that your business will generate the income you require or need.  Developing reasonable financial projections requires that you perform substantial market research to determine the level of interest in purchasing your products/services, and how much they will pay for them.

 

 

 

Guide For Homebuyers

This guide gives you advice for getting a safe, affordable mortgage.

If you’re a financial whiz, there may be other ways you can save money. But this guide emphasizes safety and affordability. You might think it’s OK to sign up for a mortgage that will not be affordable over the long term, because you can sell your home or refinance the loan before you run into trouble. But that’s a big risk. If you can’t refinance or sell when the monthly payments go up or your income goes down, you could lose your home to foreclosure. We think the best deal is a mortgage you can afford over the long term, without worrying about whether you can refinance or sell later.

There are a number of steps to getting a mortgage:

1. Decide what you can afford

2. Choosing the right loan terms and loan program

3. Shop for a loan

4. Negotiate for a better deal

5. Get ready to sign.

Continue reading here.

Get Involved

Valley CDC provides a variety of community economic development programs and services to low and moderate income residents of Northampton, Easthampton, Amherst and Hadley. To volunteer, join a committee or learn about becoming a Board member, please send us an email. Read More about “Get Involved”