Bill > H1576

This bill establishes a new permanent affordability homeownership program administered by the Executive Office of Housing and Livable Communities (EOHLC) to support the creation of affordable housing across Massachusetts. The program will provide funding for housing developments that create 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 "projects of appropriate size" containing between 1 and 25 housing units, and can include mixed-use developments that combine residential and non-residential uses. The program will accept federal funds and can only be used to create housing units with an affordable housing restriction that remains in place for at least 99 years. The EOHLC will develop rules for application, funding allocation, and grant amounts, with a requirement that the secretary submit an annual report to legislative clerks detailing the projects funded, including specifics like grant amounts, number of units created, and affordability levels. The goal is to expand homeownership opportunities for lower-income residents by supporting the development of affordable housing across the state.

Housing and Urban Affairs

https://malegislature.gov/Bills/194/H1576