Bill > H4311

This bill modifies the existing Year-Round Market Rate Housing Trust Fund in Provincetown by making several key changes. First, the bill expands the fund's purpose to include not just rental units but also year-round ownership opportunities. It adjusts the governance structure of the trust by changing the board of trustees to consist of 5 members and 2 alternate members, whereas the previous version did not specify alternate members. The bill also slightly renames the trust from "Year-round Market Rate Rental Housing Trust Fund" to "Year-Round Market Rate Housing Trust Fund", reflecting its broader scope. Additionally, the language is modified to indicate that the fund can support both rental and ownership housing options. These changes appear designed to provide more flexibility in addressing housing needs in Provincetown, potentially making it easier to create and manage housing solutions that can help local residents. The bill will take effect immediately upon its passage, and it has received local approval from the town.

Housing and Urban Affairs

https://malegislature.gov/Bills/194/H4311