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In order to advance the administration’s efforts to provide more affordable housing options and access to economic opportunity, Governor Baker has filed legislation to create nearly $1.3 billion in capacity to support affordable and mixed-income housing, while also giving state government and local partners important tools to support new housing.

“This legislation gives our administration the tools to meet the pressing need for affordable housing, and to continue caring for the state’ most vulnerable residents, including homeless families, individuals living with disabilities, and senior citizens,” said Governor Baker. 

Beyond authorizing state borrowing, the administration’s proposal also extends a key state tax credit that finances affordable housing development, and extends another tax credit that encourages new housing development in Gateway Cities. Additionally, the legislation offers several reforms to facilitate the redevelopment of state-aided public housing.

“This legislation will free local housing authorities to take a proactive approach to housing development,” said Housing and Economic Development Secretary Jay Ash. “By allowing public housing agencies to act like community development agencies, and engage in partners with outside capital, we will help deliver more housing production, in communities where the demand for new housing is greatest.”

Last May, the administration unveiled a 5-year capital budget plan that includes a $1.1 billion commitment to increasing housing production, an 18 percent funding increase over previous funding levels. This commitment provides for significant expansions in state support for mixed-income housing production, public housing modernization, and affordable housing production. The housing bond bill provides the authorization to fully fund this capital expansion.

Read more about the specifics of the bond bill.

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