Amendment #841 to H5007

Bond Approval for Small Properties State Acquisition Funding Pilot

Ms. Elugardo of Boston moves to amend the bill in item 1599-6060, after the words “retention of affordable housing”, adding the words:

"Provided further that no less than $20,000,000 be expended to the Community Economic Development Assistance Corporation for the creation and expansion of the Small Properties State Acquisition Funding Pilot; 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 #841 to H5007

Bond Approval for Small Properties State Acquisition Funding Pilot