Governor Baker Releases FY2018 Capital Budget - May 11, 2017

Today, the Baker-Polito Administration released its FY2018 Capital Budget. The capital budget will be funded with $2.26 billion of General Obligation Bonds. For the Governor's press release on the capital budget, click here.

The budget makes the following investments in affordable housing, community development, and early education programs:

• Commercial Area Transit Node Housing Program ($2 million):  Supports the development of small to medium-scale housing near public transit and shopping, employment, recreation and other amenities.
• Community Based Housing ($5 million): Creates rental units through new construction and substantial rehabilitation to provide independent housing integrated into the community to meet the housing needs of frail elders and other people with disabilities.
• Early Education and Out of School Time ($4 million): Improves the indoor and outdoor space at early education and out of school time programs that serve more than 50% EEC-subsidy eligible children. In FY16, the program created 119 new slots and impacted 370 children.
• Facilities Consolidation Fund ($12 million): Provides financing for community-based housing for clients of the Department of Mental Health and the Department of Developmental Services.
• Home Modification Loan Program ($6.5 million): Provides funding to modify homes of individuals or families with disabilities or seniors so that they may remain in their home or return from institutional settings.
• Housing Development Incentive Program (HDIP) ($4 million): The new program will create mixed-income housing and provide rental and homeownership opportunities focused on gateway cities and under-utilized LHA lands across the Commonwealth.
• Housing Innovations Fund ($12.5 million): Supports innovative and alternative forms of rental housing, including single person occupancy (SPO) units, homelessness housing, domestic violence shelters, housing for seniors and veterans, and transitional units for recovery from substance abuse.
• Housing Stabilization Fund ($21.2 million): Supports preservation, new construction and rehabilitation projects, including first-time homebuyer opportunities and rental projects for families, the elderly, formerly homeless veterans, individuals and families.
• Public Housing ($90 million): Allows local housing authorities (LHAs) to invest in the preservation of their existing portfolios and the redevelopment of obsolete units. The investment benefits approximately 80,000 extremely low income people, of which about 40% are elderly, disabled, or have other special needs, across 240 communities.
• Smart Growth Program ($1.5 million): Provides payments to municipalities that create dense residential or mixed-use smart growth 40R districts, including a high percentage of affordable housing units, to be located near transit stations, in areas of concentrated developments such as existing city and town centers, and other suitable locations.
• Supportive Housing Solutions Program ($5 million): Supports the creation and preservation of affordable housing that integrates supportive services with a particular focus on families and individuals that are homeless or at risk of homelessness.