Bill > H1450

This bill authorizes the creation of a Historic District Stabilization Committee in Massachusetts to address the foreclosure crisis in historic districts. The Committee, made up of various community stakeholders, is empowered to acquire real estate and mortgage interests within the historic district through eminent domain at fair market value. The Committee is required to conduct a study to establish a Community Appraisal Framework to guide the management and sale of the acquired properties. The bill also sets out the Committee's responsibilities, including referring homeowners to mortgage counseling, managing occupied and vacant properties, and restoring damaged homes in accordance with historic preservation standards. The provisions of the bill are restricted to historic districts designated as "Stabilization Target Areas" by the Department of Housing and Urban Development based on foreclosure and mortgage default data.

Housing and Urban Affairs

https://malegislature.gov/Bills/192/H1450