Amendment #787 to H4219

Supporting HDIP Funding for Gateway Cities

Representatives Cabral of New Bedford and Vargas of Haverhill move to amend the bill by adding the following five sections:

SECTION XX. Paragraph (5) of subsection (q) of section 6 of chapter 62 of the General Laws, as so appearing, is hereby further amended by striking out, in lines 896 through 898, inclusive, the words “The total amount of credits that may be authorized by DHCD in a calendar year pursuant to this subsection and section 38BB of chapter 63 shall not exceed $10,000,000 and” and inserting in place thereof the following words:- DHCD may authorize up to $30,000,000 in credits annually under this subsection and section 38BB of chapter 63. In addition, DHCD may authorize (i) any unused credits for the preceding calendar years under this subsection or said section 38BB of said chapter 63; and (ii) any credits under this subsection or said section 38BB of said chapter 63 returned to DHCD by a certified housing development project. The total amount of credits authorized during a year.

SECTION XX. Subdivision (5) of section 38BB of said chapter 63, as so appearing, is hereby amended by striking out, in lines 42 through 44, inclusive, the words “The total amount of credits that may be authorized by DHCD in a calendar year under this section and subsection (q) of section (6) of chapter 62 shall not exceed $10,000,000 and” and inserting in place thereof the following:- DHCD may authorize up to $30,000,000 in credits annually under this section and subsection (q) of section (6) of chapter 62. In addition, DHCD may authorize: (i) any unused credits for the preceding calendar years under this section or said subsection (q) of said section (6) of said chapter 62; and (ii) any credits under this section or said subsection (q) of said section (6) of said chapter 62 returned to DHCD by a certified housing development project.

SECTION XX. Said subdivision (5) of said section 38BB of said chapter 63, as so appearing, is hereby further amended by inserting, in line 46, after the words “chapter 62;” the following word:- and.

SECTION XX. Said subdivision (5) of said section 38BB of said chapter 63, as so appearing, is hereby further amended by striking out, in lines 50 through 52, inclusive, the words “Any portion of the $10,000,000 annual cap not awarded by DHCD in a calendar year shall not be applied to awards in a subsequent year.”

SECTION XX. No less than $30,000,000 shall be expended for a reserve to support the production of missing middle rental housing for residents of municipalities disproportionately impacted by the COVID-19 pandemic through the housing development incentive program administered by the department of housing and community development; provided, that funds shall be expended in the form of grants, loans or other financial assistance to certified projects to accelerate construction, increase affordability, or maximize market-rate units accessible to households at 125% of AMI or lower.

Additional co-sponsor(s) added to Amendment #787 to H4219

Supporting HDIP Funding for Gateway Cities