Governor signs $1.3 billion affordable housing bond bill

Pictured Here: MH Nsangou, Executive Director of the Allston-Brighton CDC in Boston, MA and MACDC Board Member, speaking at the ceremony on May 29, 2008 to sign the five-year $1.225 Billion Housing Bond bill into law. Immediately to her left is Massachusetts Governor Deval Patrick and to his left is Boston Mayor Thomas Menino.

The Massachusetts Association of CDCs (MACDC) worked in coalition to pass the five-year housing bond legislation ensuring $1.225 billion will be available to build and preserve affordable housing in the Commonwealth. It was signed into law on May 29th at affordable apartments developed and managed by an MACDC member, the Allston-Brighton CDC. The bond bill ensures the on-going funding for the Affordable Housing Trust Fund ($220 million), the Housing Stabilization Fund ($125 million) and the Housing Innovations Fund ($75 million). An Act Financing the Production and Preservation of Housing for Low and Moderate Income Residents can be found here.

Originally written by Allison M. Staton, Director of Advocacy, Massachusetts Association of Community Development Corporations