Loans for move-in costs
Pilot interest-free, partly forgivable loans covering first month, last month and security deposit so residents can afford to move out of bad housing situations.
English title and summary written with AI from the resident's text.
The resident's idea, as submitted
The idea
Pilot program for interest-free and/or partially forgivable loans to pay for first month/last month/security deposit for Boston residents who are moving. (Based on equitable targeting criteria)
Who it helps and why
The cost of first month/last month/security is significant, and many people cannot afford to pay it up front. This often makes it difficult to leave bad situations such as a unit in disrepair, domestic violence situations, etc., especially for working-class communities and communities of color. An interest-free loan would allow people to spread this cost over time, and part of the loan could be forgiven as a grant (e.g., people borrow $6,000 but pay back $4,000)
Details
- Cycle
- 2024–25
- Submitted
- August 12, 2024
- Neighborhood
- City-wide
- Portal category
- Community
- How it was submitted
- Community event
- Submission language
- English
Themes grouped with AI from resident idea text.
The same need in other cycles
City-wide ideas in Affordable housing & rent stability from the other cycles, up to 3 from each.
2026–27 (60 matching)
- More affordable housing and apartmentsResident asks for more affordable housing and apartments to increase residents' spending power and reduce homelessness.2026–27City-wide
- Public senior and disabled housing with healthcareBuild government-owned and operated public housing for seniors and disabled people with adjacent subsidized healthcare, to reduce homelessness risk among those without care access.2026–27City-wide
- Vacancy tax on residential and commercial propertiesThe resident proposes a vacancy tax on empty residential and commercial properties so housing can be provided to people who need it, improving social equity.2026–27City-wideSubmitted in Korean
2025–26 (54 matching)
- Senior tax relief, BPS and affordable housing fundingResident asks to spend funds on helping seniors pay property taxes, supporting BPS including Madison Park trade programs, and affordable housing for low- and middle-income people.2025–26City-wide
- Free air conditioners and power cost helpResident asks for an AC unit distribution program with funding to offset electricity costs, helping low-income residents stay cool and safe during heat waves.2025–26City-wide
- Housing assistance and homebuying grants for teachersResident asks for city funds for housing assistance and homebuying grants for teachers, to help diverse educators afford Boston and improve retention.2025–26City-wide