The Berkshire Regional Planning Commission (BRPC) has been following the enactment of a new Housing Bond Bill that is expected to pass both houses and be on the Governor’s desk before the end of the formal session by the legislature on July 31st.
After 18 months, the House enacted a Housing Bond Bill. Last Monday morning, a bill was released, and legislators needed to read and submit their amendments by 5 pm. Debate and passage of the proposed legislation occurred on Wednesday. The bill with a $6.5 billion price tag has a goal of creating opportunities and building more needed housing with funds for:
Vulnerable populations with $60 million to modify the homes of individuals or families with disabilities or seniors so they may maintain residency or return home from institutional settings and $55 million to support appropriate housing for people with disabilities who are not DMH or DDS clients.
Housing development with $800 million for the Affordable Housing Trust Fund that provides resources to create or preserve affordable housing for households earning less than 100 percent of AMI $250 million to accelerate the development of mixed-income multifamily housing, and $400 million for the Workforce Housing Fund, which funds housing development for households earning less than 120 percent of AMI.
Housing Works with $425 million to support preservation, new construction, and rehabilitation projects through the Housing Stabilization Fund and the Community Investment and Preservation Fund and $175 million for municipal infrastructure projects to encourage denser housing development, There is also $25 million for grants to municipalities for planning and zoning initiatives that support housing production, workforce training, and economic opportunities, child care, early education initiatives, and climate resiliency initiatives and $20 million to provide incentive payments to municipalities who adopt smart growth housing districts.
This is an initial step in funding housing; the Senate will need to pass its version of the bill. Then, a conference committee will be formed to determine the differences between each bill version before it reaches the Governor’s desk, which she can enact or reject.
There are lots of moving parts, but as Stockbridge works to develop the parcel recently given to the town, perhaps the state will be a partner in creating housing options for the elderly who are over-housed and families who want to be active participants in the life of the town.
Editor’s note: AMI stands for Area Median Income — the figure on which eligibility is based.
