On March 7th, the Joint Committee on Municipalities and Regional Government favorably reported out the Great Neighborhoods Bill (H.2420) that reforms the state's zoning laws.
For a comparison of the changes made to the bill by the Municipalities Committee, click here.
Housing News
On February 27th, the Senate Bonding Committee, chaired by Senator John Keenan, favorably reported out the Housing Bond Bill (S.2317). The legislation recapitalizes affordable housing programs with $1.7 billion in the capital budget over the next five years.
The Federal Housing Finance Agency (FHFA) announced that it would protect funding for the National Housing Trust Fund in 2018. The recently passed tax law made funding for the trust fund uncertain. The tax legislation caused a devaluation of Fannie Mae and Freddie Mac’s deferred assets, forcing the enterprises to take a draw from the Treasury. The Trust Fund is capitalized through contributions from Fannie and Freddie.
The Department of Housing and Community Development (DHCD) and MassHousing released a Notice of Funding Availability (NOFA) for the second Community Scale Housing Initiative competition.The initiative provides up to $10 million in funding for smaller scale affordable housing projects. The funding consists of $5 million from DHCD’s Housing Stabilization Fund and a $5 million investment from MassHousing’s Opportunity Fund. A limited number of DHCD’s Section 8 and MRVP rental assistance vouchers will be available.
On February 12, President Trump released his FY2019 federal budget proposal with drastic cuts to affordable housing and community development programs. The budget proposal slashes federal investment in affordable homes, increases rents, and imposes work requirements on those receiving housing benefits. For a detailed table of the President's FY19 budget proposal for affordable housing and community development program prepared by the National Low Income Housing Coalition (NLIHC), please click here.
Massachusetts Attorney General Healey’s office announced updated guidelines today for non-profit Hospitals and HMOs obliged under state and federal law to invest in community benefits in exchange for their tax-exempt status. The new guidelines emphasize “community engagement, collaboration… and investments in statewide priorities” including housing instability and homelessness.
Read CHAPA's February Housing Briefs for state and federal housing updates and recent research.
In 2017, we reflected on 50 years of accomplishments and our plans for the future. Check out our 2017 Annual Report!
On January 24th, Governor Baker released his FY2019 state budget proposal. For a table showing an overview of CHAPA's budget priorities for affordable housing, homelessness prevention, and community development programs in the Governor's budget, please click here.
On the evening of January 24th, the Massachusetts House of Representatives passed a $1.7 billion Housing Bond Bill, H.4134, to recapitalize affordable housing programs through the capital budget. The bond bill, which also extends the Massachusetts Low Income Housing Tax Credit, the Community Investment Tax Credit, the Brownfields Tax Credit, and the Housing Development Incentive Program, is the largest housing bond bill in the state's history.