Bill > H1509

This bill establishes a Massachusetts Center for Housing Cooperatives within the executive office of housing and livable communities, tasked with promoting and supporting housing cooperatives across the state. The center will focus on expanding cooperative resident ownership, preserving existing cooperative properties, and increasing the number of such properties, with a specific emphasis on low to moderate income residents. The center's director will have the authority to hire staff, accept grants, create committees, and develop regulations to support these goals. The bill also appropriates $100 million in fiscal year 2026 to support housing cooperatives, allocating funds for acquiring real estate, preserving existing cooperatives, and meeting their capital needs. The funding will be administered through various housing agencies and organizations, including the Massachusetts Housing Finance Agency, Massachusetts Housing Partnership, Community Economic Development Assistance Corporation, and ROC USA Capital. Additionally, the center's director will be required to file an annual report detailing the inventory of housing cooperatives and the center's specific activities, and will be a full-time employee appointed directly by the secretary of the executive office of housing and livable communities.

Housing and Urban Affairs

https://malegislature.gov/Bills/194/H1509