Click here to read CHAPA's June Housing Briefs.
Housing News
State-wide Listen Sessions Will Inform Economic Development Plan
Boston – Tuesday, June 02, 2015 – Today Housing and Economic Development Secretary Jay Ash announced input and listening sessions in six cities across Massachusetts. The listening sessions will provide businesses and constituents an opportunity to help shape the Commonwealth’s economic development plan.
"Studies say that lower-income people do better when they live in affluent neighborhoods, but rich people don’t want them there. A few states are seeking ways around that resistance."
Click here to read the article by Alana Semuels in The Atlantic.
On Thursday, May 21st, the Massachusetts Senate passed a $38.1 billion state budget proposal.
The Senate budget funds the Department of Housing and Community Development (DHCD) and other housing and homelessness prevention programs at $432.1 million.
The budget includes increased investments and important language changes in proven programs that help keep families in their homes and prevent homelessness, including:
BOSTON - Monday, May 18, 2015 - Mayor Martin J. Walsh today announced nearly $39 million to support affordable housing developments in neighborhoods throughout Boston. The funding, which will create or preserve 1,194 housing units, is possible through $27 million in federal and local resources through the Department of Neighborhood Development (DND) and $11.7 million in linkage funds through Boston's Neighborhood Housing Trust.
The Federal Home Loan Bank of Boston is pleased to announce at least $15 million in subsidy is available for the 2015 Affordable Housing Program.
For those interested in the 2015 AHP competitive application process, the Bank is hosting multiple training sessions throughout New England from May through August. These trainings are offered for housing partners, member financial institutions, and other stakeholders interested in applying for funding in the upcoming funding round.
Last week, the Senate Committee on Ways and Means (SWM) released its state budget recommendations for fiscal year 2016 (FY2016). The $38.01 billion budget includes support for many housing and homelessness prevention programs. Click here for a budget overview of these programs and here for a summary of CHAPA’s budget priorities.
HUD User published a new study “The Effect of QAP Incentives on the Location of LIHTC Properties” which examines whether changes in the Qualified Allocation Plans (QAP) of 21 states (including Massachusetts) increased siting of 9% credit projects in low poverty areas and decreased siting in high poverty areas (poverty rate above 30%). Massachusetts had the largest number of QAP changes seen as supporting that goal. When comparing the poverty tract characteristics of allocation
The Federal Home Loan Bank of Boston is celebrating 25 years of the Affordable Housing Program. Working together, our partnerships have helped meet the changing housing needs in your communities. I am pleased to announce that the Bank will contribute $17.6 million to the 2015 Affordable Housing and Equity Builder Programs. Of this, approximately $15 million will be allocated to the AHP and $2.6 million to the EBP.