State Roundup
Governor Releases Capital Plan; Housing Bond Cap Increased
The Patrick administration released its 5-year Capital Investment Plan (2008-2012) on August 6th. The Plan would raise the State bond cap gradually each year, from $1.5 billion in 2008 to $2.0 billion in 2012. It provides $150.5 million in bond cap for affordable housing programs in 2008 (up $22.5 million from 2007), plus $20 million in MassHousing reserves to help fund the Affordable Housing Trust Fund. It also provides $14.8 million for two other DHCD programs: Community Development Action Grants (CDAG) and the Urban Revitalization Development Grant (URDG) Program.
Public housing is the biggest winner among the housing programs with a $30 million increase in capital resources (including $5 million in Affordable Housing Trust Fund monies). Total resources for the Affordable Housing Trust Fund are increased by $10 million to a new total of $30 million ($20 million from MassHousing reserves and $10 million in bond funds). The plan also restarts the Capital Improvement and Preservation Fund (CIPF) program, which had been shut down by the Romney Administration, providing $4 million in 2008. Two program received funding cuts: the Housing Innovations Fund and the Facilities Consolidation Fund.
The Plan increases bond funding slightly in the outyears to $161.8 million in 2010, $166.5 million in 2011 and $166.5 million in 2012, but because it provides no MassHousing reserve funds in those years, total capital resources will decline. Finally, the $100 million Priority Development Fund (PDF), created in 2002 with MassHousing's reserve funds, is fully committed and is not expected to continue.
|
|
|
|||
|
|
2007 |
2008 |
Increase/ Decrease |
% Chg |
|
Bond Funding |
|
|
|
|
|
Transit Oriented Development |
4 |
2.5 |
(1.5) |
-38% |
|
HSF |
16 |
20 |
4.0 |
25% |
|
CIPF |
- |
4 |
4.0 |
new |
|
HIF |
12.3 |
10 |
(2.3) |
-19% |
|
FCF |
7 |
6 |
(1.0) |
-14% |
|
AHTF |
20 |
5 |
(15.0) |
-75% |
|
CBH |
4 |
4 |
- |
- |
|
Housing at Transit Nodes |
5 |
5 |
- |
- |
|
Home Modification Loans MRC |
4 |
4 |
- |
- |
|
Public Housing |
56 |
90 |
34.0 |
61% |
|
Subtotal for Affordable Housing |
128.3 |
150.5 |
22.2 |
17% |
|
CDAG |
8 |
10 |
2.0 |
25% |
|
URDG |
4.3 |
4.3 |
- |
- |
|
Total DHCD Bond Funds |
140.6 |
164.8 |
24.2 |
17% |
|
Mass Housing Reserves for AHTF |
0 |
20 |
20.0 |
|
|
Total Capital Resources |
140.6 |
184.8 |
44.2 |
|
|
Total for Affordable Housing |
128.3 |
170.5 |
42.2 |
33% |
Federal Roundup
House Committee Approves National Housing Trust Fund Bill
On July 31, the House Financial Services Committee approved legislation (H.R. 2895) establishing a National Housing Trust Fund. The full House is expected to take up the bill in September. The Committee approved several amendments to the version originally introduced, primarily with regard to income targeting and the funding formula.
McKinney-Vento Homeless Programs Reauthorization Bill Delayed
The Senate Committee on Banking, Housing and Urban Affairs cancelled the scheduled August 1 markup of legislation to reauthorize the McKinney-Vento Homeless Assistance Act. The proposed bill, called the Community Partnership to End Homelessness Act (S.1518), would consolidate programs and expand funding for permanent housing for families and individuals. The New England Housing Network has sent a letter suggesting ways to improve the bill.
New England Housing Network Annual Conference Set for September 10th
The New England Housing Network, a coalition of affordable housing and community development organizations from all six New England states, will be holding its Annual Conference on September 10th in Needham, Massachusetts, providing updates on federal, state and local programs, policies and legislation. It will also work on developing a regional agenda.
