Massachusetts
Massachusetts House Bill Would Make $1.3 Billion in Bonds Available For Housing
The Baker-Polito Administration filed a Housing Bond Bill (H.3653) seeking $1.3 billion in additional capital authorization for the production and preservation of affordable housing, and for public housing maintenance and improvement.
Massachusetts Concludes State House Budget Debate – Several Wins for Affordable Housing
The two days of debate resulted in a $40 billion budget as several affordable housing initiatives were supported.
Beacon Communities Uses LIHTC and MassHousing Financing to Renovate and Extend Affordability
Beacon Communities LLC is using $42.5 million in MassHousing financing and other funding sources to refinance the 161-unit Quincy Tower at 5 Oak St. West in Chinatown for low-income senior citizens and complete nearly $12 million in property upgrades.
MassHousing Partners with Madison Park CDC, POAH, JCHE, Others to Preserve 4 Affordable Senior Housing Projects
Senior citizens living in four affordable housing communities in Boston, Framingham, Newton and New Bedford will see the preservation of affordability and extensive property renovations as a result of $102.7 million in MassHousing financing.
MassHousing Celebrates Breakout Year with Record Lending
The state’s affordable housing bank had its best lending total in its history; received three bond rating upgrades from Standard & Poor’s and Moody’s; and created the first-in-the-nation statewide loan program to spur the new production of housing that is more affordable to middle-income renters.
Beacon Communities Utilizes $27.6 Million in MassHousing Financing to Preserve Housing Community for Mixed Income Residents
Beacon Communities LLC purchased Rockingham Glen, a 143-unit community, with an exemption from Chapter 40T to ensure the affordable apartments did not convert to market rate.
MassHousing Recognizes WinnCompanies as Top-Performing Management Company Fostering Minority- and Women-Own Business Enterprises; Beacon Communities, The Community Builders, POAH, Related Management, Trinity Management and Wingate Management also Receive High Marks
In fiscal year 2016 the 424 rental housing communities in the MassHousing loan portfolio generated approximately $201.4 million in contracts for goods, services and supplies. Of this amount, $37 million (18%) went to Minority-Owned Businesses and $23 million (11%) went to Women-Owned Businesses.
Massachusetts Releases NOFA for NHTF, Pre-Applications due 11/21
All pre-applications must demonstrate that the proposed project is highly ready to proceed and that the development cost per unit is reasonable. Sponsors interested in this round are encouraged to notify DHCD as soon as possible.
Massachusetts Governor Charlie Baker Reappoints Michael J. Dirrane as Chairman of MassHousing
Dirrane is the longest-serving Board Member in MassHousing’s 50-year history.
MassHousing Names New General Counsel and CFO
MassHousing Executive Director Tim Sullivan recently named Beth Elliott as MassHousing’s General Counsel, and Charles Karimbakas as Chief Financial Officer.
Massachusetts: NHTF Comment Letters due Aug. 8th
The Massachusetts Department of Housing and Community Development has prepared a draft plan describing its method for distributing the first-year allocation of the National Housing Trust Fund. The draft plan is currently posted to DHCD’s website at: http://www.mass.gov/hed/docs/dhcd/cd/csbg/trustfundplan.pdf. DHCD welcomes comments on the posted document. DHCD will accept written comments until August 8, 2016. These […]
Massachusetts Case Reveals Impact of Last Summer’s Disparate Impact Decision
Tenants at Burbank Apartments in Massachusetts sued when the building’s owner decided not to renew a Section 8 contract with HUD, arguing that it would disproportionately impact people of color. The court’s final decision was made after careful consideration of last summer’s Supreme Court ruling on disparate impact and the Fair Housing Act.