State House News Service: ‘Social-impact bonds’ sought to aid homeless

By Matt Murphy

Gov. Deval Patrick on Monday announced a late-term effort to tackle chronic homelessness with 500 new units of supportive housing paid for through a relatively new model of government contracting that leverages private investment and is dependent on the success of the program.

Patrick detailed the new “pay-for-success” program to create housing for 800 of the state’s 1,500 chronically homeless individuals over the next six years.

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