Bill > S870

This bill aims to improve the housing development incentive program (HDIP) in Massachusetts. The key provisions of the bill are: 1. Expanding the program's scope to promote "mixed-income multi-unit housing" and considering benefits to lower-income residents without causing increased rents or displacement. 2. Requiring HDIP projects to have not more than 80% market-rate units and at least 20% permanently affordable units, where affordable units are defined as those for households with incomes up to 50% (for renters) or 80% (for homeowners) of the area's median income. 3. Prioritizing HDIP projects in distressed or mixed-income housing-needed areas. 4. Enhancing transparency by requiring the reporting of additional project details like rents/prices, unit sizes, and the amount and duration of property tax exemptions. 5. Mandating a competitive credit allocation process with a published plan and scoring criteria, to be reviewed at least every 5 years. 6. Considering factors like increasing the supply of mixed-income housing, expanding neighborhood and resident benefits, and directly benefiting lower-income residents when awarding HDIP credits. The overall goal is to make the HDIP program more inclusive and beneficial for lower-income residents in Massachusetts.

Housing and Urban Affairs

https://malegislature.gov/Bills/193/S870