Bill > S1627

This bill aims to support neighborhood stabilization and economic development in Massachusetts. The key provisions include: 1. Increasing the cap on the Massachusetts Historic Rehabilitation Tax Credit from $10 million to $20 million, which can help incentivize the rehabilitation of historic properties. 2. Amending the definition of eligible projects under the Massachusetts Economic Development Incentive Program to include "neighborhood stabilization," which could provide additional funding and support for community revitalization efforts. 3. Establishing a "spot blight rehabilitation program" that allows community development corporations and non-profit organizations to sponsor the creation of a "spot blight 121A corporation" to rehabilitate small-scale residential properties. 4. Creating a commission to study strategies for improving the quality of housing stock in economically weaker markets, focusing on issues like building code relief, use of new technologies, and deployment of energy efficiency and home modification programs. 5. Directing the Executive Office of Housing and Economic Development to establish a capacity-building initiative to assist cities and towns in implementing various neighborhood stabilization programs and practices. Overall, this bill aims to provide a range of tools and resources to help stabilize and revitalize communities, particularly in economically challenged areas, through the rehabilitation of housing and other community development efforts.

Budget and Finance

https://malegislature.gov/Bills/191/S1627