Healey-Driscoll Administration and Broad Coalition of Stakeholders Testify in Support of Affordable Homes Act

 Healey-Driscoll Administration and Broad Coalition of Stakeholders Testify in Support of Affordable Homes Act 

Affordable Homes Act and tax cuts package expected to create 30,000 jobs, generate $25 billion in economic impact, and bring in $800 million in tax revenue 

 

Housing advocates, business owners, labor unions and other stakeholders joined top Administration officials to support the Affordable Homes Act 

 

BOSTON – Today, Governor Maura Healey, Lt. Governor Kim Driscoll and Secretary of Housing and Livable Communities Ed Augustus testified in support of H. 4138, the Affordable Homes Act, before the Joint Committee on Housing.    

The Affordable Homes Act is the cornerstone of the governor’s housing policy. The $4.13 billion in spending authorizations and 28 policy changes offer a comprehensive roadmap to grow the state’s housing supply and make it easier for people to find affordable places to live.  

 

A forthcoming analysis from the UMass Donahue Institute will show that over the next 5 years, the Affordable Homes Act – combined with the tax cuts package signed by Governor Healey last year – will create nearly 30,000 jobs, produce $25 billion in economic impact and bring in $800 million in tax revenue. 

“Everywhere we go, Lieutenant Governor Driscoll and I hear from families, seniors, recent graduates, workers, and businesses alike that they are being held back by the high cost of housing in our state,” said Governor Maura Healey. “That’s why we’re going big by proposing the most ambitious housing bill in state history. The Affordable Homes Act will make it easier for people of all income levels to find affordable places to live in Massachusetts, create good jobs and grow our economy.” 

 

The Affordable Homes Act, in combination with recently reauthorized housing tax credits, will fund or enable the creation of more than 40,000 homes that would not otherwise be built. It will also preserve, rehab, support or improve more than 27,000 existing homes.  

 

The legislation also invests $1.6 billion to repair, rehab and modernize the state’s public housing while increasing funding to several programs that support first-time homebuyers and the building of affordable housing.  

 

In addition to spending authorizations, the Affordable Homes Act would enact strategic policy changes such as authorizing accessory dwelling units under 900 square feet by right, creating a seasonal communities designation and allowing cities and towns to enact a real estate transfer fee on sales over $1 million. That money would go to the community to support the development and preservation of affordable housing. 

 

“As the Mayor of Salem, I saw firsthand the critical role that housing plays in supporting our local economies. People and businesses can’t stay in the communities they love if they can’t afford it,” said Lieutenant Governor Kim Driscoll. “The Affordable Homes Act will help us create the housing environment that we want and need for Massachusetts, unlocking our competitiveness and improving quality of life for all.” 

Homeowners, public housing tenants, local business owners and chambers of commerce were scheduled to testify in support of the bill today.  

 

“The unconventional alliances that have come forward to support this historic plan underscores just how great the need is,” said Housing & Livable Communities Secretary Ed Augustus. “It is rare to have this breadth and depth of support. The fact that everyone from public housing advocates to employers, business leaders and health care professionals demonstrates the urgent need for the Affordable Homes Act and the broad coalition that supports it.” 

https://malegislature.gov/Events/Hearings/Detail/4819