Community development organizations gathered at Beacon Hill urging for the extension of a tax credit supporting local businesses and low- to moderate-income residents.
Push for Permanent Tax Credit and Healthy Homes Funding
The credit, set to expire in 2025, has attracted over $100 million in private investments since 2014. Gov. Healey’s housing bond bill aims to make this credit permanent, offering a 50 percent refundable tax credit for donations to community development corporations.
Monday’s event highlighted key housing equity policies, including lead paint, air quality, and funding for homeownership education and foreclosure prevention. Lt. Gov. Driscoll stressed urgent housing issues statewide. Advocates are pushing for more funding to address asbestos, mold, pests, and lead in low-income areas, benefiting vulnerable populations.
(photo: The Business Journals)
Massachusetts Housing Advocates Rally for Healthy Homes Fund and Foreclosure Prevention Grants Amid Ongoing Budget Debate
Rep. Arciero, chair of the Joint Committee on Housing, supports the healthy homes fund recognizing its potential to improve living conditions. A bill to establish this fund has received favorable feedback from the committee, according to the report of WWLP.
Last week’s “Housing is Health Care” session highlighted how stable housing improves health, according to hospital executives.
Erika Hernandez, executive director of ACT Lawrence CDC, emphasized the need for foreclosure prevention funding through Chapter 206 grants, sharing her experience from the last recession.
MACDC is seeking more funding for these grants amid ongoing budget debates between the House and Senate.
Community development groups are also pushing for more funding for small business technical assistance grants, vital for local entrepreneurs.
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Furthermore, Sen. Payano’s proposed amendment seeks to allocate additional funds for technical assistance addressing the unique challenges faced by small business owners, particularly in urban and minority communities.
