In response to the ongoing COVID-19 outbreak, Massachusetts Governor Charlie Baker (R) signed the eviction and foreclosure moratorium bill (H.4647). The law temporarily halts all stages of most evictions. For homeowners, the law temporarily stops foreclosures and requires lenders to offer mortgage forbearance for those affected by COVID-19. This bill, however, does not cancel missed […]
The Massachusetts Department of Housing and Community Development updated its FAQ
On April 8, the Massachusetts Department of Housing and Community Development issued a FAQ document on rent increases in units with rental assistance during COVID-19 emergency.
MassHousing has surpassed $1 billion in lending through the Multifamily Accelerated Processing (MAP) program, preserving the affordability of 43 affordable housing communities since 2015 and extending affordability protections on more than 7,400 rental housing units for lower-income Massachusetts residents.
The Massachusetts Department of Housing and Community Development (DHCD) expects all owners of multifamily rental property that receives any form of financial assistance from DHCD and/or its quasi-public affiliates to refrain from implementing any rent increases.
The Community Economic Development Assistance Corporation released a report, which explores the risk that LIHTC-financed properties in Massachusetts will convert to market-rate housing at Year 30. Roughly 86 percent of the 15,679 LIHTC units approaching year-30 are subject to some form of longer-term affordability restriction and will not be at risk for market conversion before December 31, 2030.
The Massachusetts Department of Housing and Community Development released guidance on the exclusion of income derived from temporary 2020 Census Bureau work. Effective immediately, income derived from temporary 2020 Census Bureau employment is to be excluded from households’ countable income calculations for projects that involve any of the DHCD-assisted programs.
On January 7, in his State of the City address, Mayor Martin Walsh (D) pledged to dedicate $500 million over the next five years for affordable housing. These new investments will create rental and homeownership opportunities, preserve public housing, and establish a city-funded rental voucher program.
On December 17, Governor Charlie Baker (R) signed the supplemental budget to close out the $1 billion surplus from Fiscal Year (FY) 2019. The budget includes $2.5 million for a down payment assistance program for first-time homebuyers with low and moderate incomes as well as $2 million for a rental and mortgage arrearage assistance pilot […]
The Federal Home Loan Bank of Boston (FHLBank Boston) is hosting three sessions to assess its Affordable Housing Program (AHP) priorities and competitive scoring framework to ensure that the program remains a vital, flexible capital source to support a wide range of affordable housing initiatives across New England and the communities its members serve.
On December 20, the Massachusetts Department of Housing and Community Development (DHCD) announced an increase of the administrative fee for all state funded voucher programs from $40 to $50 per voucher, effective February 1, 2020. This includes the Massachusetts Rental Voucher Program, Alternative Housing Voucher Program, and the Department of Mental Health Rental Subsidy Program. […]
The Massachusetts Department of Housing and Community Development (DHCD) will hold a multifamily rental funding competition in February 2020. The Notice of Funding Availability (NOFA) for this competition will be released shortly. Pre-applications for potential projects will be due on November 25, 2019. Sponsors whose projects are approved through the pre-application process will be allowed to submit the full OneStop+ applications on February 20, 2020