Budget Amendment ID: FY2025-S4-304

ECO 304

Neighborhood Stabilization Initiative

Mr. Cronin, Ms. Miranda and Messrs. Crighton, Eldridge, Velis, Brady, Gomez, Montigny and Lewis moved that the proposed new text be amended in section 2, in item 7002-1502, by inserting after the word "Laws" the following:- "; provided, that not less than $750,000 shall be expended on a neighborhood stabilization initiative to assist local governments and their nonprofit partners to implement strategic neighborhood revitalization initiatives; and provided further, that the initiative shall be developed in consultation with the Massachusetts Association of Community Development Corporations, and The Massachusetts Institute for a New Commonwealth, Inc. and shall focus on identifying and implementing strategies for reclaiming vacant, abandoned and blighted properties and restoring them to productive use as homeownership opportunities or rental housing, as well as on capacity-building at the local level to address this need." and by striking the figure "$250,000" and replacing it with the following:- "$1,000,000".