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SUCCESS IN HOUSING HOMELESS LEADS TO DIVIDEND PAYMENTS

By Colin A. Young
STATE HOUSE NEWS SERVICE

STATE HOUSE, BOSTON, FEB. 13, 2018.....A partnership that uses a social innovation financing model to reduce homelessness announced Tuesday that it has placed more than 650 individuals into housing, triggering dividend payments to partners who invested in the program.

Massachusetts Pay for Success Initiative to Reduce Chronic Individual Homelessness said it has "significantly exceeded targets" and placed 656 individuals into stable housing and that 92 percent have remained housed after one year.

"The Pay for Success initiative has successfully met its targets for housing retention, demonstrated a reduction in utilization of medical services by clients, and demonstrated a cost-benefit," Joe Finn, president and executive director of the Massachusetts Housing & Shelter Alliance, said in a statement.


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