Foreclosure Prevention Bill Hearing on Tuesday

The Joint Committee on Housing will hold a public hearing on Foreclosure Prevention Bills on Tuesday, March 27, at 10 a.m. in Room A-1 at the State House. The committee will accept testimony on S.747/H.1290 filed by Senator Jarrett Barrios and Representative David Torrisi and also H.1237, filed by Representative Kevin Honan. Click here to download a copy of the Barrios/Torrisi bill and the bill summary. To view the Honan bill, click here. CHAPA urges our members to contact their legislators in support of this legislation and to attend the public hearing.

Tax Exempt Bond Cap Announced for Housing

This week the Executive Office for Administration and Finance released information regarding the federal tax exempt bond volume cap for 2007. MassDevelopment will receive $200 million which will be equally divided between economic development projects and multi-family affordable housing projects. MassHousing will receive $175 million ($50 million for below market-rate mortgages to homebuyers and $125 million for multi-family afffordable housing projects). $22 million will be reserved for capital improvements to public housing. In addition to the funding levels, the Administration also announced two policy changes. First, before MassHousing or MassDevelopment may allocate volume cap to finance multi-family affordable housing projects, the borrower must receive an award of federal tax credits from the Department of Housing and Community Development. Second, the restrictions issued by former Governor Romney regarding the use of volume! cap for preservation projects have been revoked. More information can be found at www.mass.gov/eoaf.

Upcoming Events

For a detailed list of upcoming events or to register online, visit our web site at www.chapa.org/calendar.

Tuesday, April 24, 9:30 a.m. - 11:30 a.m., Funds for Green Affordable Housing, The Conference Center, One Financial Center, Boston.

Saturday, April 28, 8:00 a.m. - 4:00 p.m., Resident Controlled Housing Conference: Strategies for Creating Healthy Communities, Hyatt Regency Hotel, Downtown Boston.