State issues Social Innovation Financing RFRs
The Executive Office of Administration & Finance on Wednesday issued Requests for Response in an effort to encourage innovative solutions to social problems, improve the performance of government and save taxpayer money.
The Patrick-Murray Administration announced it plans to explore the use of social innovation financing to tackle the challenging issues of chronic homelessness and juvenile justice, according to a press release. The release gives additional detail on the issues:
- Chronic Homelessness - The Administration seeks to partner with social entrepreneurs to provide stable housing for several hundred chronically homeless individuals. The goal of the initiative will be to improve the well-being of the individuals while simultaneously reducing housing and Medicaid costs.
- Juvenile Justice - The Administration seeks to partner with social entrepreneurs to support youth aging out of the juvenile corrections and probation systems so as to assist them in making successful transitions to adulthood. The juvenile justice contract will be designed with the specific goal of reducing recidivism and improving education and employment outcomes over a six-year period for a significant segment of the more than 750 youth who exit the juvenile corrections and probation systems annually.
Read the full press release here. The state hopes to explore a number of options for social innovation including pay-for-success contracts and social impact bonds. To access these RFRs on CommPASS, please visit this page and type "RFR ANF SIF" without the quotes in the keyword search on the top of the page.
If you have additional comments or questions about these RFRs, please contact Bill Yelenak at the Providers' Council, contact Abby Dosoretz at the Executive Office of Administration & Finance (617-727-2040 x35-402) or e-mail email@example.com.