Bill > S1010

This bill establishes a permanent affordability homeownership program administered by the Executive Office of Housing and Livable Communities to support the development of affordable housing across Massachusetts. The program will provide funding for creating permanently affordable homeownership units for low and moderate income households, defined as those earning between 70% and 120% of the area median income. Eligible projects must be between 1 and 25 housing units and can be part of mixed-use developments. "Permanently affordable" is defined as housing units with an affordable housing restriction that will remain in place for at least 99 years. The executive office will develop rules for application, funding allocation, and grant amounts, with funds strictly limited to creating affordable housing units for low and moderate income buyers. The secretary of housing and livable communities is required to submit an annual report to legislative clerks detailing the program's activities, including a comprehensive list of funded projects, grant amounts, number of housing units created, affordability levels, and project sizes. The program will be subject to available appropriations and may also accept federal funding.

Housing and Urban Affairs

https://malegislature.gov/Bills/194/S1010