Friday, February 14, 2014

Bridgewater Savings Bank Donates $30,000 to Norwood-Bridgewater Housing Rehab Program




Bridgewater Savings Bank has donated $30,000 to the Norwood-Bridgewater Housing Rehab Program. The program is funded by a Community Development Block Grant which originates from HUD and is awarded by the State’s Department of Housing and Community Development through a competitive grant application process. The program assists homeowners who meet location and income requirements by providing them with funds to improve their living conditions. Common projects include roof repairs, updating of electrical systems, replacing faulty heating systems, new windows, insulation, and elimination of asbestos and lead paint.

Bridgewater partnered with Norwood because Norwood’s Planning Department has successfully administered a Housing Rehab program since 2004, completing more than 40 projects to date and improving the lives and property value of local residents.  These improvements have a positive impact on the community as a whole, by making the target area more attractive to potential business owners, visitors and residents alike.

Bridgewater Savings Bank’s donation has been earmarked for the purpose of providing improvements in owner occupied homes in Bridgewater that meet program criteria.  This generous donation, along with a $20,000 gift from Bridgewater State University will allow grant funds to stretch further by increasing available funds.  This will allow additional projects to be completed in Bridgewater, resulting in significant overall improvement in value and aesthetics, to the downtown target area.  Homeowners interested in pursuing projects in can contact Pam McCarthy at 781-762-8115 x 209 or pmccarthy@norwoodma.gov

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