Bill > H3042

This bill authorizes the Town of Concord to establish a building permit fee surcharge specifically dedicated to supporting affordable housing. The surcharge would apply to construction projects that exceed a minimum value determined by the town's Select Board, with the specific amount and applicability to be defined in a local bylaw. All funds collected through this surcharge would be deposited into the Concord Municipal Affordable Housing Trust Fund and used for affordable housing purposes. The bill defines "affordable housing" as housing with legal restrictions ensuring that initial and subsequent occupants have incomes no more than 150% of the area median income, as determined by federal Housing and Urban Development guidelines. The surcharge can only be implemented after a vote of approval at an annual or special Town Meeting, and would take effect 30 days after such acceptance. This legislation provides a local mechanism for the town to generate dedicated funds to support housing affordability by requiring developers to contribute a small additional fee when undertaking significant construction projects.

Budget and Finance

https://malegislature.gov/Bills/194/H3042