Berkshire Bank Contributes $5,000 to Berkshire Creative's Assets for Artists Project
Berkshire Creative, the county-wide economic development arm for the creative economy in the Berkshires, has announced a grant of $5,000 from Berkshire Bank Foundation to support the Assets for Artists project, helping artists throughout the county who want assistance with such goals as growing their creative enterprises, improving their personal financial management, and becoming home owners.Nancy Fitzpatrick, Chairman of Berkshire Creative, lauded the bank's contribution to the work of Berkshire Creative: "Not only does this grant support an innovative project that will have substantial economic impact in our creative sector, but it helps Berkshire Creative towards its $100,000 fundraising goal by December 31st, which is a matching requirement for the $100,000 start-up grant we received from the Massachusetts Cultural Council last year. Berkshire Bank saw right away what an important contribution this would be for us."
According to Berkshire Bank Foundation Executive Director Peter J. Lafayette, "This exciting project and the broader efforts of Berkshire Creative are a great fit for the Bank's and Foundation's priority of supporting local community and economic development efforts. We're pleased to provide seed funding for this project that will help artists gain the skills and tools they need to be successful businesspeople and homeowners."
The Assets for Artists program – a partnership between Berkshire Creative, MASS MoCA, MCLA's Berkshire Cultural Resource Center and Pittsfield's Office of Cultural Development – provides both training opportunities and access to small amounts of capital in the form of individual development accounts, a state-subsidized financial tool that can provide a match for the account-holder's own savings subject to certain restrictions including income-based eligibility. The program has already enrolled nine artists in individual development accounts and has held trainings on personal finance and small business development, working closely with the Berkshire Regional Office of the Massachusetts Small Business Development Center on the two-day business training seminar for artists.
The next training opportunity, a two-part seminar for artists interested in learning more about the home buying process, will be led by the Massachusetts Fair Housing Center and held on Saturday, December 6 and Saturday, December 13, from 9:30am – 1:30pm at Berkshire Bank, 66 West Street, in downtown Pittsfield.
Participants will learn how to determine what they can afford and what will meet their artistic needs (live-work space, 2-4 unit properties with rental income, etc.). They will also hear from expert speakers on such topics as choosing and working with a real estate broker, making an offer on a house, comparing mortgage offers, applying for a mortgage, securing down payment assistance, obtaining legal representation for preparing and reviewing documents, selecting appropriate home insurance, utilizing a home inspector, preparing for life after the home purchase, and more.
The training will be tailored to the needs and challenges of artists in the Berkshires. Attendance at both sessions is required in order for the participant to receive "certification" from the state and become eligible for certain first-time home buyer mortgage and down payment assistance programs.
Artists who would like to participate in this two-part certified home buyer training should contact Blair Benjamin at MASS MoCA (413-664-4481 x8104 or blair@massmoca.org) to express interest or request more information. A limited number of slots will be available, offered first-come, first-serve. Pre-registration is required.
In January, the Assets for Artists program will begin accepting applications to open 14 more individual development accounts, which will be open to Berkshire County artists living in households earning less than roughly $41,000 - $57,000 per year, depending on the number of people in the household. Inquiries about that opportunity should also be directed to Blair Benjamin at MASS MoCA.
Berkshire Creative exists at the intersection of art, innovation, design and creation. The mission of Berkshire Creative is to stimulate new job growth and economic opportunity in the region by sparking innovative collaborations between artists, designers, cultural institutions and businesses. Berkshire Creative serves creative economy businesses throughout Berkshire County – from individual artists and small business owners to larger corporations and cultural institutions. Visit www.berkshirecreative.org to learn more about how creativity means business in the Berkshires. Find creative economy jobs, collaboration opportunities, local and state business, economic, and professional development resources, all to help you do better business in the Berkshires.
The Berkshire Bank Foundation is one of three charitable foundations affiliated with Berkshire Bank. The others are the Berkshire Bank Foundation – Pioneer Valley serving communities in the Pioneer Valley and the Greater Berkshire Foundation serving communities in the Albany region and Southern Vermont. These are permanent charitable endowments with a mission of enhancing the quality of life in Berkshire Bank's service area. The foundations give priority to funding education and community development projects. Since 2000, the three foundations have awarded more than $7.3 million to non-profit organizations in Berkshire County and $13.4 million in all regions.
Berkshire Hills Bancorp is headquartered in Pittsfield, Massachusetts. It has approximately $2.6 billion in assets and is the parent of Berkshire Bank - America's Most Exciting BankSM. Berkshire provides business and consumer banking, insurance, wealth management, and investment services through 49 banking and insurance offices in Western Massachusetts, Northeastern New York, and Southern Vermont. For more information, visit www.berkshirebank.com or call 800-773-5601.
