Bill > H2294

This bill proposes to add a new voluntary municipal right of first refusal program to existing Massachusetts housing law, allowing municipalities to have the first opportunity to purchase certain residential properties for affordable housing purposes. Under this program, property owners with buildings containing three or fewer units or mid-size multifamily buildings would be required to notify their municipality when they receive a sale offer. The municipality would then have 120 days to inspect the property and make a matching or higher offer. If the municipality decides to purchase the property in coordination with a community partner, they must maintain it as deed-restricted affordable housing permanently. Property owners who participate will receive financial incentives: $500 per qualified unit (up to $10,000), plus recording document costs, with the overall program limited to $5 million in total payments. The Department of Housing and Community Development would develop regulations to administer the program, and the municipality must notify the property owner of its intent to exercise the right of first refusal at least 10 days before the sale, or else forfeit that right.

Government Affairs

https://malegislature.gov/Bills/194/H2294