Affordable Housing Blog
   
Subscribe:  
Share Print View
Governor Baker announces $100 million MassHousing fund for creation of workforce housing


Massachusetts Governor Charlie Baker has announced a new $100 million fund for the creation of workforce housing which is being defined as rental housing for households earning 61% to 120% of area median income. 
This program, which is being funded by MassHousing, is aimed at families whose incomes are too high for subsidized housing but are priced out of the market by high rents.

Key features of this program are as follows:

- Provides up to $100,000 of subsidy per workforce housing unit.

- Can be used for new construction or refinancing where new units of workforce housing will be created.

- Will require at least 20% of the units be affordable to households at or below 80% of the area median income to meet MassHousing’s statutory enabling act requirements.

- Will require a deed restriction for 30 years or longer.

More information on this program can be found in Governor Baker's press release.

Comments

There are no comments yet for this post.

Privacy Policy | Terms of Use and Conditions | Statement of Client Rights
This website contains attorney advertising. Prior results do not guarantee a similar outcome. © 2018 Nixon Peabody LLP
Categories
expand 1. HUD / RD

AFHS alerts
Elderly Housing -- Section 202
FHA Insurance and Risk Sharing
Preservation - HUD OAHP and Mark to Market
RAD
Section 8 Renewal Contracts
Utility Allowance
expand 2. Local & Regional

California and West Coast
DHCD (DC)
Housing Production Trust Fund
New York and Northeast
expand 3. Energy Tax Credits

expand 4. Historic Rehabilitation Tax Credits

Historic Rehabilitation Tax Credits
expand 5. Low-Income Housing Tax Credits

expand 6. New Markets Tax Credits

New Markets Tax Credits
expand 7. Real Estate

Tax
expand 8. Specialty

Freddie Mac
LGBT Housing
Sequestration
Tax-exempt Entities
expand 9. Video

Video