Day On Board With Bill To Support Affordable Housing

A release from the office of State Representative Michael Day:

State Representative Michael S. Day (D-Stoneham) recently joined his colleagues in the House of Representatives to pass a $1.7 billion housing bond bill that will support low and moderate income housing throughout the Commonwealth. The legislation recapitalizes funding for a variety of programs and extends several housing and economic development tax credits.

“The lack of affordable housing in the greater Boston area, and particularly here in Stoneham and Winchester, is a threat to our community,” said Representative Day. “This bill takes important steps that will address this housing crisis by authorizing state programs to preserve and increase housing options for all of our residents.”

“This bond bill will authorize $1.7 billion dollars over the next five years for the production and preservation of affordable housing, smart growth development, and much needed public housing capital improvements,” said Representative Kevin Honan, House Chair of the Joint Committee on Housing. “These are critical investments at a time where our dependence on federal funding is uncertain. Housing is the cornerstone of our society and our economy and the provisions of this bill are the tried and true affordable housing tools that are at our disposal.”

The bill provides continuing authorizations for a number of housing initiatives and funds programs such as the Massachusetts Rental Voucher Program which provided direct assistance to more than 8,000 families in the past year. The bill will also fund the Emergency Assistance Family Shelter System which provides emergency shelter for more than 3,500 families.

Massachusetts currently has, on average, the seventh highest rents in the country while Boston is now ranked as the fourth most expensive urban area for housing in the country. In the Greater Boston area, nearly half of all renters pay more than 30% of their income directly toward rent.

In addition to emergency housing, the bill also provides flexible funding to create and preserve affordable housing, ranging from transitional homes for homeless to homeownership programs for individuals and families who are otherwise priced out of communities in which they were born and have lived for decades.

“Protecting our existing affordable units and increasing housing options for all of our residents insures that nobody is left behind in a growing economy,” continued Representative Day. “This legislation is an important step in our continued march towards long-term economic security and prosperity for all.”

The landmark bill authorizes public housing authorities to leverage new funds and partners to rehabilitate public housing extends Brownfield tax credits to permanently clean up contaminated sites in cities and towns, and increases permanent housing options and programs for individuals living with developmental challenges. It also increases funding for the “40R” program, which provides communities with financial support and incentives to adopt special “smart growth” zoning districts in underutilized areas in town that are highly suitable for residential or mixed-use redevelopment.

The bill now moves to the State Senate.