Governor Baker Signs Economic Development Bill

On November 10, Governor Baker signed the Economic Development Bill into law. The Legislature sent the Governor a final bill on November 2, after months of delay following the end of the legislative session this summer. The Governor vetoed only $1.1 million from the $3.76 billion bill and several outside sections.

The Governor left in place all the affordable housing related spending and policy sections in the bill. This includes:

• $100 million for homeownership production
• $150 million for workforce housing
• $100 million for the Affordable Housing Trust Fund
• $1 million for acquisition of small properties for affordable housing
• $20 million for the state Community Preservation Trust Fund
• Public housing reforms to all for more redevelopment projects by providing an exemption for these projects from the filed sub-bid requirements

CHAPA thanks Governor Baker for signing the bill and including these critical resources.