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Healey Signs $5.1B Bond Bill to Preserve, Develop Affordable Housing
Massachusetts Gov. Maura Healey on Tuesday signed into law the The Affordable Homes Act, intended to support the production, preservation and rehabilitation of more than 65,000 homes statewide over the next five years. The bond bill authorizes $5.16 billion in spending over the next five years along with 49 policy initiatives to counter rising housing costs caused by high demand and limited supply.
Key spending authorizations and policy changes include allowing accessory dwelling units; a record $2-billion investment in modernizing the state’s public housing system; boosts to programs that support first-time homebuyers and homeownership; incentives to build more housing for low to moderate-income residents; support for the conversion of vacant commercial space to housing; and support for sustainable and green housing initiatives.
“The Affordable Homes Act creates homes for every kind of household, at every stage of life, and unlocks the potential in our neighborhoods,” said Healey.
- ◦Policy/Gov't
