Governor’s Daily Update
Innovation, Education, Infrastructure and Regional Focus
Monday, November 30, 2009 – Protecting Massachusetts’ Tenants: Support for Affordable Housing
Standing with housing and community leaders in the State House this morning, Governor Patrick highlighted a law he signed last week to keep publicly-assisted rental properties affordable and announced the roll-out of a $150 million loan fund leveraged primarily through private dollars to support and secure long-term affordable housing preservation efforts. The Governor’s signing of the “expiring use” bill last week created a regulatory framework to preserve affordable rents in properties where long-term, publicly subsidized mortgages are paid off and affordability restrictions can then expire. “Preserving affordable rental housing keeps our working families strong and our economy strong. By securing and expanding housing opportunities now and over the long-term, we can make a difference in the lives of our neighbors, bolster our communities and maintain Massachusetts on a path toward recovery,” said Governor Patrick.
Learn More:
• Press Release From the Office of the Governor – http://www.mass.gov/?pageID=gov3pressrelease&L=1&L0=Home&sid=Agov3&b=pressrelease&f=113009_expiring_use_law&csid=Agov3
• Article in the Boston Globe – http://www.boston.com/business/ticker/2009/11/150m_loan_fund.html