Monday, October 17, 2011

Chamber working to preserve & enhance state-level housing production policies

The Chamber is working to preserve and enhance state-level housing production policies in an effort to strengthen Massachusetts’ ability to attract and retain talented workers, and improve the quality of life for those who live and work here.

Chapter 40B – The Chamber offered testimony at an October 11th Housing Committee hearing in support of Chapter 40B, a valuable state-level affordable housing production law. Massachusetts’ future economic growth will be impacted by its ability to maintain an adequate supply of housing that a) workers of all income ranges can afford, and b) is sited near job locations. The Chamber urged the committee to oppose legislation that would weaken or undermine this important housing law.

Low Income Housing Tax Credit – The Chamber also worked with CHAPA (Citizens Housing and Planning Association) to help secure a temporary increase in the state’s Low Income Housing Tax Credit (LIHTC) in the supplemental budget bill. The bill, signed by Governor Patrick last week, increased the LIHTC cap by $10M in each of the next two years. This increase will promote private investment in the creation and rehabilitation of affordable housing, and will leverage significant federal HUD awards for two key projects in Greater Boston region.

1 comment:

  1. Ronnie Arnold

    I believe creating affordable housing opportunities are a great way to retain workers but this isn't the only thing that can keep workers intact in the city. Creating a sense of job security will keep me in a city that wants to retain a talented workforce. If people are looking for a place where they want to start careers, then they want to live in a place where they have buying power in the housing market. Hence, it may be a great idea to increase affordable housing but bills to purchase housing should also be included with these bills. I would let the potential homebuyers try the property before you buy. this will give them an idea of how the community is and the opportunities in the city firsthand for themselves.