News Flash

City of Malden News

Posted on: January 9, 2020

East Boston Savings Bank Donates $5K to Malden Affordable Housing Strategy

East Boston Savings Bank has donated $5,000 to support the City of Malden’s affordable housing strategies. The funds will help cover analysis the City needs to craft an inclusionary zoning policy. Inclusionary zoning is considered a best practice for municipalities concerned about affordability and the housing crisis, and has been a policy priority for Mayor Gary Christenson. The analysis will give Malden leaders the data they need to develop a policy that produces the greatest share of affordable homes and helps meet the needs of all Malden residents.

“This generous contribution brings us closer to passing an inclusionary zoning ordinance and making Malden a more affordable city for all of our residents,” said Mayor Gary Christenson. “I’m proud that we have a partner like East Boston Savings Bank to help us preserve our community and move Malden forward.”

“Once I heard more about what Mayor Christenson was looking to accomplish by creating an inclusionary zoning policy the Bank was all for it. The results of the analysis will help create the new policy supporting the City’s affordable housing strategies and protect the City’s diverse community as well as provide affordable housings to its residents,” said Richard J. Gavegnano, President and CEO of East Boston Savings Bank.

Inclusionary zoning policies leverage private sector development by requiring residential developments to build a certain percentage of deed-restricted affordable homes. Policies vary by community, and are most successful when they consider that community’s real estate market, zoning restrictions, affordable housing needs, development costs, and other factors. If a policy sets the affordability requirements too high or too low, the community could lose out on the number of affordable homes that would be built. To avoid this problem, the Mayor proposed commissioning an analysis to help inform Malden policymakers. The City Council unanimously adopted a resolution supporting the effort.

The Malden Redevelopment Authority (MRA) has been working closely with the Mayor’s office on affordable housing strategies, including inclusionary zoning. Having worked with East Boston Savings Bank on several public initiatives before, the MRA approached the bank about inclusionary zoning analysis late last year. The Bank quickly agreed to support the effort with their contribution.

“This donation continues East Boston Savings Bank’s long-standing commitment to the Malden community,” said MRA Executive Director Deborah Burke. “We are grateful to have such engaged community partners, and look forward to the results of our efforts: a research-driven inclusionary zoning policy that protects our diverse community and provides affordable homes for Malden residents.”

In addition to inclusionary zoning, the Mayor and MRA have pushed for an Affordable Housing Trust Fund and a Security Deposit Pilot Program. The City Council recently adopted the Affordable Housing Trust Fund ordinance, and the Security Deposit Pilot Program has been under review by the Community Preservation Commission (CPC) since being submitted by community partner Action for Boston Community Development (ABCD) in September.

East Boston Savings Bank

(From Left) MRA Senior Planner Evan Spetrini, MRA Executive Director Deborah Burke, Mayor Gary Christenson, East Boston Savings Bank CEO Richard Gavegnano, Vice President Cheryl DeLorenzo, and Executive Vice President Frank Romano

Facebook Twitter Email

Other News in City of Malden News

Update on Confirmed Malden Cases

Posted on: March 26, 2020

MATV Live COVID-19 Update

Posted on: March 25, 2020

Closing of City Parks

Posted on: March 24, 2020

Update on Confirmed Malden Cases

Posted on: March 23, 2020

Malden Responds to the Coronavirus

Posted on: March 19, 2020

Attention All Youth!

Posted on: February 5, 2020
Debbie Burke, MRA Director,  Mayor Christenson, Habitat for Humanity, and NE Met. Reg. Vocational Sc

Habitat Homes Building in Full Swing

Posted on: February 26, 2020
Complete Streets Grant Photo

Malden Receives Complete Streets Funding

Posted on: January 29, 2020
Kristin Gennetti Group Ribbon Cutting

Grand Opening of Kristin Gennetti Group

Posted on: January 9, 2020

Christmas 2019 - City Services Open/Closed

Posted on: December 18, 2019
The Pooch Room Ribbon Cutting

Grand Opening of The Pooch Room

Posted on: December 4, 2019
Frank Stella Mural

Frank Stella Mural Ribbon Cutting

Posted on: December 3, 2019

About Malden’s Disability Commission

Posted on: November 18, 2019

Firefighter Exam Period Open

Posted on: November 14, 2019
Fellsmere Pond Christmas Tree Lighting

Christmas Tree Lighting at Fellsmere Pond

Posted on: November 14, 2019

2019 Malden Recycling Day!

Posted on: October 21, 2019
Ebisuya Noodle Grand Opening

Grand Opening of Ebisuya Noodles

Posted on: October 21, 2019
(From left) Xueyi Lin, ZhiChao Chen, Mayor Gary Christenson, Torisa Wang, Councillor Craig Spadafora

Grand Opening of Wanyoo Esports

Posted on: October 17, 2019
Public Safety Day

Malden’s 2nd Annual Public Safety Day

Posted on: October 9, 2019
(From left) Ose Schwab, Owner Sunny Chu, Mayor, Yu Du (owner of UpTea Hub), Charlotte Deng, and Anne

Ribbon Cutting of Sunny Florists

Posted on: October 7, 2019
Malden Logo

Malden Has a New Logo

Posted on: October 3, 2019
Trafton Park Improvements Rendering

Malden Receives $400,000 for Trafton Park

Posted on: September 26, 2019
Mayor Christenson presents Sophia & Pat Sasso a citation in front of her mural at 15 Waite Court

Mural Beautifies Bike Path

Posted on: September 12, 2019
Nana Bee Ribbon Cutting (From left) Peter Caso, Jianing Wang, Mayor Gary Christenson, Owner Lei Xu,

Grand Opening of Nana Bee

Posted on: September 6, 2019
Team Thunder

Championship Team Thunder Visit Mayor

Posted on: September 5, 2019

License Board Vacancy

Posted on: July 26, 2019
Mayors Senior BBQ

Mayor’s Annual Senior Citizens BBQ

Posted on: July 24, 2019
Family & friends celebrate the grand opening of Family Beauty with Owner (left of Mayor) Iris Monge

Grand Opening of Family Beauty Salon

Posted on: July 23, 2019
Elisha Slade Converse

Happy Birthday Mayor Converse!

Posted on: June 25, 2019
Spicy World Ribbon Cutting

Grand Opening of Spicy World

Posted on: June 13, 2019
Flag Day at Bell Rock Park

Malden to Celebrate Flag Day 2019

Posted on: June 6, 2019
Mem. Day Parade1

Memorial Day in Malden 2019

Posted on: May 7, 2019
Alex Gentile Memorial Park (5)

Alex Gentile Memorial Park

Posted on: May 6, 2019
Wilko employees and Chamber of Commerce members with (center, holding scissors) Owner Bill Kotowski

Ribbon Cutting of Wilko Systems

Posted on: April 25, 2019
Magnolia Dental employees with (from left holding scissors Owner Dr. Yee Yan Chen, daughter Allison,

Grand Opening of Magnolia Dental

Posted on: April 25, 2019