Greylock Federal Offers Assistance to Homebuyers Through FHLBank Boston

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PITTSFIELD, Mass. — Greylock Federal Credit Union has been approved to participate in Federal Home Loan Bank of Boston's homeownership assistance programs, Equity Builder Program and Housing Our Workforce. 
 
Both programs help income-eligible homebuyers who are purchasing one- to four-family homes that will serve as their primary residence.
 
Equity Builder Program (EBP) provides grants to financial institutions to help local first-time homebuyers with down payments and closing costs as well as homebuyer counseling and rehabilitation assistance. Borrowers earning up to 80 percent of the area median income are eligible to receive up to $25,000 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling.
 
Housing Our Workforce (HOW) enables financial institutions to help local homebuyers earning more than 80 percent and up to 120 percent of the area median income with down payments and closing costs. Borrowers can receive up to $25,000 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling if they are a first-time homebuyer.
 
"These grant programs are designed to ease some challenges associated with a home purchase, particularly at a time when home prices have risen sharply and are beyond the reach of many individuals and families. We are pleased to participate to help borrowers become homebuyers, while also supporting the financial stability and vitality of our communities," said Tara McCluskey, Greylock's Vice President, Mortgage Originations Manager.
 
Greylock is eligible to reserve up to $250,000 through the EBP and up to $250,0000 through HOW depending on availability of funds in 2025.
 
To learn more about applying for assistance through these programs, contact the Greylock mortgage department at 413-236-412

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Pittsfield: Should Park Square Be an Historic District?

By Brittany PolitoiBerkshires Staff

PITTSFIELD, Mass. — The committee drafting a proposed local historic district around Park Square wants to generate interest and participation in the process. 

Members launched the charge during meetings in August and September. A survey and public hearing are planned to gather feedback early on. 

City Planner Kevin Rayner explained they are not just doing this out of a love for historic buildings, but for the timeless sense of place you get when you step into Park Square, which was laid out over 200 years ago and hosted the first-ever agricultural fair in 1810. 

"I think that the main thing that we need to kind of park on is that this is the heart of our community, and it really sets the stage for the sense of place in Pittsfield, and any change to that should have some review and some consensus from folks who have a passion for protecting the history and that character of Pittsfield," he said to the new Local Historic District Study Committee last week. 

"And there's that private property versus historic resource thing, but I’d say that a lot of these buildings on the square belong to the soul of Pittsfield here, and deserve to be protected, and I don't think that the layer of regulation that we're throwing down here is going to be unreasonable or a real boundary." 

In March, the City Council voted to amend the City Code, Chapter 2, to establish the study committee.

Pittsfield has more than 20 locations on the National Register of Historic Places, including the Park Square Historical District, but the designation just allows communities to apply for federal tax credits and doesn't impose restrictions on buildings. The central area was laid out a few decades after Pittsfield was given a town charter in 1761.

A district can be one building, several buildings, or an area. Historic restrictions only apply to the exterior of buildings; the committee has authority to say a building in the district cannot be demolished. 

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