Page 4 THE MALDEN ADVOCATE–Friday, August 23, 2024 INVESTMENT | FROM PAGE 1 ment of affordable housing and preserve public housing in Massachusetts. “The biggest challenge to keeping young adults and working families in Massachusetts is the high cost of housing, especially in the greater Boston area,” said Senator Lewis. “This legislation is a major step forward in addressing the housing shortage and tackling the high rents and home prices that are putting affordable housing out of reach for so many people.” “I am proud to support the passage of the Affordable Homes Act, as it will allocate important funds towards combating the Commonwealth’s housing crisis,” said Representative Donato. “It is crucial that we continue to work together to create more housing options for our constituents. The passage of this legislation is a monumental step forward to ensuring every resident in Massachusetts can have a place to call home.” “The Affordable Homes Act represents our promise to ensure safe and affordable housing to residents across the Commonwealth,” said Representative Ultrino. “I am incredibly proud of the work the legislature has done to put forward a critical housing bill that will eliminate barriers to housing Lawrence A. Simeone Jr. Attorney-at-Law ~ Since 1989 ~ * Corporate Litigation * Criminal/Civil * MCAD * Zoning/Land Court * Wetlands Litigation * Workmen’s Compensation * Landlord/Tenant Litigation * Real Estate Law * Construction Litigation * Tax Lien * Personal Injury * Bankruptcy * Wrongful Death * Zoning/Permitting Litigation 300 Broadway, Suite 1, Revere * 781-286-1560 lsimeonejr@simeonelaw.net for low-income individuals and families, senior citizens, and underserved communities.” “I was glad to support this comprehensive housing bill and its historic investments and impactful policy initiatives,” said Representative Lipper-Garabedian. “This legislation will boost housing production and increase affordability; result in healthier, climate-resilient homes; and enhance our State’s competitiveness by empowering individuals and their families to stay in Massachusetts. I’m particularly proud of the funding for our public housing authorities, in the 32nd Middlesex and across the State, to address maintenance, accessibility, resilience, and decarbonization efforts.” Highlights of the Affordable Homes Act: • Spurring construction, preservation and rehabilitation of units by authorizing up to $425 million for the Housing Stabilization Fund and the Community Investment and Preservation Fund and $275 million to consolidate the existing Transit Oriented Housing Program and the Climate Resilient Housing Program and create a new, innovative program to accelerate and unlock new housing • Maintaining and repairing public housing by authorizing up Celebrating Our 52nd Year Dan - 1972 We Sell Cigars & Accessories! MAJOR BRANDS AT DISCOUNT PRICES! Singles * Tins Green Label Sale Buy 2 Cigars, Get One FREE! 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CIGAR 170 REVERE ST., REVERE (781) 289-4959 Chris 2024 Jason Lewis State Senator Steven Ultrino State Representative Paul Donato State Representative to $2 billion for repairs, rehabilitation and renovation of the over 43,000 units of state-aided public housing • Further supporting public housing initiatives by authorizing up to $200 million to support Local Housing Authorities (LHAs) who partner with developers to add mixed-income developments on LHA land, $150 million to decarbonize the public housing stock and $15 million for accessibility upgrades • Promoting affordable housing development by authorizing up to $800 million for the Affordable Housing Trust Fund, which helps to create or preserve affordable housing for households earning less than 100% of area median income (AMI), $200 million to accelerate the development of mixed-income multifamily housing, $100 million for the Middle Income Housing Fund, which funds housing development for households earning less than 120% of AMI, and $100 million for the Commonwealth Builder program for the construction of affordable single-family homes for households earning between 70% and 120% of AMI – primarily in Gateway Cities • Housing vulnerable populations – seniors, veterans, people with mental health conditions or disabilities, people experiencing homelessness and people recovering from substance use disorder – by authorizing up to $385 million to promote a variety of programs and initiatives to find, modify and support safe housing • Providing support for municipalities by authorizing up to $175 million for municipal infrastructure projects to encourage denser housing development; $50 milKate Lipper-Garabedian State Representative lion to provide payments to municipalities that receive a Housing Choice designation through high housing production and/or demonstration of best practices, including a grant program to assist MBTA Communities in complying with the multifamily zoning requirement in the MBTA Communities Law; $50 million for planning and zoning initiatives that support housing production, workforce training and economic opportunities, childcare and early education initiatives and climate resiliency initiatives; and $20 million to provide incentive payments to municipalities that adopt smart growth housing districts. • Supporting accessory dwelling units (ADUs) by permitting one ADU equal or less than 900 square feet to be built by-right on a property in a single-family zoning district to create additional living spaces, which increases housing supply and provides more affordable rental options within established neighborhoods • Introducing a process for tenants to seal their eviction records in cases of no-fault evictions and other limited scenarios to protect vulnerable tenants from the longterm stigma of eviction records and enhance their ability to secure future housing • Assisting municipalities to convert commercial properties into multi-unit residential or mixeduse properties by making project sponsors eligible for a tax credit of up to 10 percent of the development costs upon completion of a project • Extending the sunset of the Historic Rehabilitation Tax Credit through December 31, 2030, and increasing the total available amount from $55 million to $110 million
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