Bill > H177

This bill aims to strengthen neighborhood stabilization and economic development in Massachusetts. Key provisions include: 1. Increasing the maximum annual tax credit for community development corporations from $10 million to $20 million. 2. Adding "neighborhood stabilization" as an eligible purpose for school construction grants. 3. Establishing a "spot blight rehabilitation program" to allow community development corporations and nonprofits to sponsor the rehabilitation of small-scale residential properties (1-4 units) that are deemed decadent or blighted. 4. Creating a commission to study strategies for improving the quality of housing stock in weak markets, including recommendations on building code relief, energy efficiency programs, and accessibility modifications. 5. Directing the Executive Office of Housing and Economic Development to establish a capacity-building initiative to assist cities and towns in implementing neighborhood stabilization programs and practices.