Amendment ID: S2564-80

ECO 80

Increasing the Housing Development Incentive Program

Messrs. Lesser, Moore, Crighton, Feeney, Keenan and Velis, Ms. DiZoglio, Messrs. Cronin, O'Connor and Hinds move that the proposed new text be amended in section 2A, in line item 1599-2022, in line 74, by striking out word "may" and inserting in place thereof the following word:- "shall"; and

by striking out the figure “$2,000,000” and inserting in place thereof the following figure:- “$20,000,000”; and

in said section 2A, in said line item 1599-2022, in line 75, by inserting after the words “General Laws” the following words:- “; provided further, that notwithstanding any general or special law to the contrary, funds from this item shall be made available to allocate $30 million for a reserve to support the production of rental housing for residents of municipalities disproportionately impacted by the COVID-19 pandemic through the housing development incentive program established under chapter 40V of the General Law and administered by the department of housing and community development; provided further, that said funds shall be expended in the form of grants, loans or other financial assistance to certified projects to accelerate construction, increase or deepen affordable units, or ensure that market-rate units remain affordable to households at 125% of AMI or lower”; and

by striking out the figure “$125,000,000” and inserting in place thereof the following figure:- “$255,000,000”.