Amendment #1519 to H3900

MassDREAMS

Mr. Williams of Springfield moves to amend the bill by adding the following line item:

1599-2020 For the MassDREAMS program administered by the Massachusetts Housing Finance Agency and Massachusetts Housing Partnership pursuant to Chapter 102 of the Acts of 2021, with such modifications as such agencies may determine necessary or advisable to create and maintain opportunities for homeownership throughout The Commonwealth for socially and economically disadvantaged residents of the Commonwealth, including, not limited to, residents of communities disproportionately impacted by the 2019 novel coronavirus pandemic; provided, that funds shall be expended to create and enhance access to homeownership in order to foster a strong, inclusive and equitable delivery and to address the systemic homeownership gap among the socially and economically disadvantaged population; provided further, that funds shall be expended to create opportunities for first-time homebuyers; provided further, that funds may be expended in the form of grants or loans, or any combinations thereof, and for down payment assistance, closing costs, mortgage insurance, mortgage interest subsidy, first-time homebuyer counseling, financial literacy programs, and for reasonable costs of administering the program; provided further that the greater of 10% or $20,000,000 of this item shall be administered by the Massachusetts Housing Partnership and the remaining balance shall be administered by the Massachusetts Housing Finance Agency........................... $200,000,000

Additional co-sponsor(s) added to Amendment #1519 to H3900

MassDREAMS