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Cape Cod Healthcare Commits $1 Million to Campaign that Seeks to Combat Effects of Housing Crisis As part of its 50th anniversary celebration, Housing Assistance announced today that it has launched a $5 million capital campaign to preserve the American Dream on Cape Cod. Funds raised through the campaign will help create both rental and homeownership opportunities for nearly 600 year-round Cape Cod individuals and families. The campaign, and a $1 Million gift toward the goal from Cape Cod Healthcare, was announced by Housing Assistance at its annual Oysters and Champagne event at the Wequassett Resort in Harwich. “Cape Cod Healthcare is proud to contribute $1 million in support of housing for our workforce, so that low- to moderate-income families can live and work here,” said Michael Lauf, President & CEO of Cape Cod Healthcare. “The market alone isn’t going to take care of our housing situation. We need to be creative when it comes to building more affordable units. “We are thrilled to receive this financial support from Cape Cod Healthcare but even more importantly the commitment it demonstrates to our mission. While finding stable, attainable year-round housing has been a top issue on the Cape as far back as our founding in 1974, today we find ourselves at a tipping point,” said Housing Assistance CEO Alisa Magnotta. “Our community is in the grip of an unprecedented and unrelenting housing crisis. With record-high demand and runaway costs, the American Dream of homeownership is out of reach for far too many on Cape Cod.” Housing Assistance’s capital campaign will help increase attainable housing and ensure Cape Cod remains a viable year-round community for future generations. The agency has nine projects in the pipeline that will provide quality housing to 575 individuals and families. These projects have a total cost of $125 million, and the capital campaign will provide the funding needed to bring them over the finish line. “This moment presents us with an opportunity to turn the tide so that more of the housing that our community needs is being constructed, “ said Magnotta. “With historic investments in housing from the state and increased capacity at Housing Assistance, we are poised to add housing that will protect our year-round residents, who are the backbone of our economy and the future of our region.” “Our mission at Housing Assistance is to provide attainable and affordable housing for our community, “said Housing Assistance Board Chair Bill Bogdanovich. “In the past six years we have seen the median price for a home on Cape Cod increase by 83%, requiring incomes well over $200,000 per year to obtain a mortgage. This is unsustainable for our young families, our first responders, our teachers, and our healthcare workers – the people we count on each day to make the Cape work.” The campaign has already seen significant commitments from the community, including a $100,000 gift from Cape Cod 5. “At Cape Cod 5, we believe the only way we’re going to solve our housing challenge is by working together as a community,” said Bert Talerman, President of Cape Cod 5. “A collaborative approach is necessary to help facilitate change and to create more housing for our locals and workforce. We are glad to support Housing Assistance’s capital campaign in this capacity in recognition of the criticality of this issue.” To learn more about the Housing Assistance 50th anniversary capital campaign, contact Ann Schiffenhaus at aschiffenhaus@haconcapecod.org or visit www.haconcapecod.org/50th-anniversary/capital-campaign/. About Housing Assistance: Housing Assistance has provided a spectrum of services to help our homeless and vulnerable neighbors secure a safe, stable place to call home since 1974. These programs and services include homeless outreach, family shelters, rental vouchers, affordable housing development, energy efficiency programs, and first-time homebuyer support. Housing Assistance also works to address the root causes of housing instability – lack of inventory and lack of affordability – that affect almost all income levels in our region. To learn more, visit www.haconcapecod.org.