Amendment #660 to H5007

Small Properties State Acquisition Funding Pilot

Mr. Consalvo of Boston moves to amend the bill moves to amend the bill in section 2 in item 1599-6060 by adding the following: “; provided further that funds shall be expended for the first year of the Small Properties State Acquisition Funding Pilot as part of the Housing Stabilization and Investment Trust Fund established in section 2 of chapter 121F of the General Laws; provided, that this program shall issue soft loans to supplement other acquisition soft loans administered by municipal or other affordable housing acquisition lenders on a rolling basis; provided further, that acquisitions pursuant to this program shall follow the affordability restrictions of said affordable housing acquisition lenders; provided further, that loans under this program shall be used for the acquisition of buildings of no less than 1 unit and no more than 8 units of residential housing for rental or ownership, or mixed-use buildings, for a term of up to 50 years”.

Additional co-sponsor(s) added to Amendment #660 to H5007

Small Properties State Acquisition Funding Pilot