Rep. Stanley Helps Pass Housing Bond Bill

 (BOSTON) – State Representative Tom Stanley joined his colleagues in the Massachusetts House of Representatives in passing legislation to preserve and produce affordable housing throughout the Commonwealth.  The bill authorizes $1.4 billion in investments over the next five years to finance the production and preservation of low and moderate income housing.

“I am very pleased with the passage of this important legislation, which will provide much-needed funds to preserve and maintain affordable housing throughout Massachusetts for the next five years,” said Rep. Stanley.  “With this investment, we will preserve and rehabilitate housing that is safe and affordable for individuals and families with low to moderate incomes, which in turn will help create jobs and further stimulate the state’s economy.”  

The $1.4 billion includes $500 million for the rehabilitation and modernization of state-assisted public housing. These funds cannot be used to create new state-owned public housing but to expedite the turnover of dilapidated units once vacant. The bill also includes $55 million to facilitate modifications for the elderly and disabled to allow them to remain in their homes.

This is the first long-term housing finance bill to come before the Legislature since 2008 and marks the introduction of a capital investment in early education centers through the Early Education and Out of School Time Capital Fund. The $45 million allocation funds the development of facilities for early education and out-of-school programs.

“I commend Chairman Dempsey, Chairman Honan and Chairman Cabral for their work on this legislation,” said House Speaker Robert A. DeLeo (D-Winthrop). “As Massachusetts continues on a path towards growth following the economic downturn, it is absolutely crucial that we keep in mind the most basic needs of our citizens. I’m extremely pleased our efforts to improve affordable housing are being extended and amplified through new provisions in this bill.”

“With this bill, the House will make important investments to protect our most vulnerable residents and address some of our most pressing homelessness issues, including long wait lists and high housing costs,” said Representative Brian S. Dempsey (D-Haverhill), Chairman of the House Ways and Means Committee. “While we are modernizing our state housing infrastructure for future generations, we are also investing in our future, committing to improve facilities for our elder residents, disabled residents, and our youngest residents attending early education centers.”

“This bill reflects our commitment to ensuring that the people of Massachusetts have access to affordable housing,” said Representative Kevin Honan (D-Brighton), Chairman of the Joint Committee on Housing. “The programs funded in this bond bill will provide for the production, preservation, and modernization of public and affordable housing throughout the Commonwealth. I thank my colleagues in the House for their dedication to the continuation of affordable housing in our state.”