by iwd Tina | Feb 6, 2024 | Housing News
Right now, members of Congress are working to pass fiscal year 2024 spending bills for a range of federal agencies, including the Department of Housing and Urban Development (HUD). Unfortunately, there are indications that the proposals being considered would underfund HUD and threaten housing and homelessness programs.
From the National Low Income Housing Coalition (NLIHC):
Congress needs to hear from you! Advocates should contact their members of Congress and demand they help address the housing and homelessness crisis by enacting an FY24 spending bill with significant increases for affordable housing and homelessness programs, including NLIHC’s top priorities:
- Full funding to renew all existing contracts for the Housing Choice Voucher (HCV) program.
- Increased funding for public housing operations and repairs.
- At minimum, the $3.9 billion for Homeless Assistance Grants proposed by the Senate bill.
- The protection of $20 million in funding for the Eviction Prevention Grant Program provided in the Senate bill.
- The $1.1 billion for Native Housing proposed by the House bill.
Advocates can continue to engage their members of Congress by:
- Emailing or calling members’ offices to tell them about the importance of affordable housing, homelessness, and community development resources to you, your family, your community, or your work. You can use NLIHC’s Take Action page to look up your member offices or call/send an email directly!
- Using social media to amplify messages about the country’s affordable housing and homelessness crisis and the continued need for long-term solutions.
- Sharing stories of those directly impacted by homelessness and housing instability. Storytelling adds emotional weight to your message and can help lawmakers see how their policy decisions impact actual people. Learn about how to tell compelling stories with this resource.
National, state, local, tribal, and territorial organizations can also join over 2,100 organizations on the Campaign for Housing and Community Development Funding’s (CHCDF’s) national letter calling on Congress to support the highest level of funding possible for affordable housing, homelessness, and community development resources in FY24
by iwd Tina | Feb 5, 2024 | Housing News
On January 31, the House of Representatives passed HR 7024, the Tax Relief for American Families and Workers Act of 2024 by a vote of 357-70. Among the many provisions of the bill are housing tax credits: the restoration of the 12.5 percent allocation increase for 2023-2025 and the reduction of the bond threshold required to access the 4 percent credit from 50 percent to 30 percent for 2024 – 2025.
This bill now moves on to the Senate where party leaders will negotiate to put the bill to a vote. The legislation will need 60 votes to avoid procedural hurdles and could be delayed if it is sent to the Finance Committee to be marked up instead of directly to the Senate floor.
National housing advocates are urging anyone supporting this bill, and the housing credits it includes, to contact their senators and urge them to bring it to a vote soon. For more on this legislation and advocacy opportunities, visit the Housing Advisory Group’s website.
by iwd Tina | Jan 24, 2024 | Housing News
by iwd Tina | Jan 24, 2024 | Housing News
On January 24th, Governor Healey revealed the FY2025 budget proposal of $56.1 billion for the upcoming fiscal year, focusing on investments in education, infrastructure, and housing.
Revenue & Budget:
This budget represents an increase of 2.9% from the previous fiscal year (FY24), reflecting restrained revenue growth. The $56.1 billion budget allocates full funding for the Student Opportunity Act, boosts local aid, and covers the costs of tax reductions implemented last year. It includes an anticipated $1.3 billion in revenue from the Fair Share surtax, which is earmarked for education and transportation initiatives.
To manage the gap between revenue and spending, the budget trims $450 million from various items and avoids $500 million in additional spending. The Rainy Day Fund is expected to receive a $97 million deposit. For more information on the revenue estimates and budget rationale, check out the FY2025 Budget briefs by the Administration.
Affordable Housing Priorities:
Many of CHAPA’s affordable housing priorities received an increased investment in the Governor’s FY2025 budget proposal while many others received a level of funding and some of them had lower allocations than FY2024. Please see our Language analysis of the affordable housing priorities for policy details.
Supplemental Budget
Along with the FY2025 budget, the Administration also filed a Supplemental budget that draws from the transitional escrow funds to cover the EA shelter costs for FY2024 and FY2025. The Supp budget proposes $70 million for the Housing Stabilization Fund to provide for acquisition, preservation, rehab, and homelessness prevention; $50 million for Public Housing; $20 million for the Housing Innovation Fund, and $10 million for the Momentum Fund.
by iwd Tina | Jan 23, 2024 | Housing News
On January 22nd, the Healey-Driscoll Administration announced investments in affordable housing for the production and preservation of over 1,900 housing units in 19 communities. This involves the allocation of state funding and Low-Income Housing Tax Credit (LIHTC) support for various projects.
The Legislature and the Administration passed a $1 billion tax relief bill in the fall of 2022, which included raising the Low-Income Housing Tax Credit to $60 million annually – a $20 million increase over the previous year.
The projects receiving the investments encompass a diverse range of developments, such as transforming a historic church into mixed-use housing in Boston and repurposing a vacant nursing home in Northampton.
The projects include:
- Residences at the Park – Athol
- 135 Dudley Street – Boston
- 775 Huntington – Boston
- Blessed Sacrament – Boston
- Mildred Hailey 3 – Boston
- NUBA Apartments – Boston
- Thatcher Apartments – Brockton
- Clifton Place – Cambridge
- Jackson Place – Cambridge
- Sacred Heart – Cambridge
- 4th at Broadway – Chelsea
- 25 Garvey Street – Everett
- Franklin Ridge Senior Housing – Franklin
- Library Commons 2 – Holyoke
- Prospect Place – Northampton
- Southern Tier – Oak Bluffs
- Schoolhouse Apartments – Rockland
- The Exchange 4%/9% – Salem
- 24 Webster Avenue – Somerville
- Plaza Apartments – South Hadley
- Residences at the Vault – Springfield
- Baldwinville School – Templeton
- Residences at Lawrence Hill – Wellfleet
- WCG Homes – Worcester
- Solimine House, Lynn (150 affordable senior housing units with health care supports)
- 900 Morrissey Boulevard, Boston (99 single-room occupancy units, with extensive support services, to chronically homeless individuals in a now-vacant hotel)
For more on the Administration’s press release, please visit https://www.mass.gov/news/healey-driscoll-administration-announces-new-affordable-housing-development-across-the-state.
by iwd Tina | Jan 23, 2024 | Housing News
On January 8th, the Healey Administration announced a revision to the current fiscal year’s budget called 9C cuts, which involves a $375 million reduction due to lower-than-expected tax collections. The Administration projected a $1 billion decrease in tax revenue for this budget year which may also impact the FY2025 budget.
The term ‘9C cuts’ refers to the Massachusetts Governor’s authority, under Section 9C of Chapter 29 of the General Laws, to unilaterally reduce state spending when tax revenues fall short of projections to ensure a balanced budget without legislative intervention.
The most notable change to CHAPA priorities was a $5 million cut in funding for Housing Consumer Education Centers, under line item 7004-3036. However, this decrease will be effectively neutralized by additional funds from the Federal Moving to Work program, ensuring that the Housing Consumer Education Centers will continue to receive the same allocation. Alongside this, other areas such as cash assistance programs (TAFDC) and Senior Supportive Housing programs also saw reductions in their budgets. Please refer to this chart for a full list of budget cuts.
The Administration’s strategy involves reducing expenditures for the next six months, utilizing typically non-budgeted investment earnings, and aiming for minimal revenue growth in the coming year. This approach, according to Healey’s team, is designed to navigate through fiscal year 2024 without further cuts, setting the stage for a balanced budget in fiscal year 2025, for which the proposal is due by January 24.
