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Introduction of Historic Housing Legislation by Governor Healey

Governor Healey introduced legislation for the The Affordable Housing Act, a $4 billion plan. When enacted, this will be the largest housing investment in state history. It will create more than 40,000 new homes. Most of the spending established by the legislation will benefit moderate and low-income households and the goal is to face the state’s housing issue head-on. The Affordable Homes Act is investing significantly in green building and decarbonization. As part of the plan, a total of $1.83 billion would be directed to housing production and preservation in Massachusetts.

The law establishes eviction sealing measures.

The Affordable Homes Act would also allow accessory dwelling units less than 900 square feet as of right throughout the state with the ability for communities to set some reasonable restrictions. Brookline can use local option of adopting a real estate transaction fee of 0.5 percent to 2 percent on the portion of a property sale over $1 million – or the county median home sale price. Deborah Brown believes that this may be an effective income generator to build affordable housing.

The will make the Community Investment Tax Credit Program permanent and increase it from $12 million to $15 million per year to support the work of Community Development Corporations.

Finally, a total of $1.83 billion would be directed to housing production and preservation in Massachusetts. Highlights include:

$800 million for the Affordable Housing Trust Fund to provide resources to create or preserve affordable housing for households whose incomes are not more than 110 percent of area median income; includes up to $50 million for MassDreams to create first-time homebuyer opportunities for households in Disproportionately Impacted Communities.

$425 million for Housing Stabilization and Investment Fund to support preservation, new construction, and rehabilitation projects.

$175 million for HousingWorks Infrastructure Program to fund municipal infrastructure projects to encourage denser housing development.

$100 million for CommonWealth Builder to spur construction of affordable homeownership opportunities.

$100 million for Mixed-Income Housing to support middle-income housing production.

$50 million for the Momentum Fund – a new pioneering initiative designed to leverage state resources to support large scale, mixed-income multifamily development.

Brookline CDC is very excited about this new legislation. Deborah Brown said that “Governor Healey and the legislature have produced a housing game changer for building and maintaining affordable housing.”

Fact sheet

Press release