Housing News

On Wednesday, February 14th, 2024, residents of Milton voted no on a bright and inclusive future for their community. At a time when people across income levels are feeling the pain of escalating home prices and rents, CHAPA is disappointed that Milton voters chose the status quo that keeps their gates closed and limits opportunities for people to have homes they can afford in the neighborhoods they love. Milton’s vote impacts people, our region, and our economy. 

Four leading statewide affordable housing organizations today called on Milton residents to vote YES on February 13 to adopt multi-family zoning consistent with the MBTA Communities Law.

Right now, members of Congress are working to pass fiscal year 2024 spending bills for a range of federal agencies, including the Department of Housing and Urban Development (HUD).  Unfortunately, there are indications that the proposals being considered would underfund HUD and threaten housing and homelessness programs.   

On January 31, the House of Representatives passed HR 7024, the Tax Relief for American Families and Workers Act of 2024 by a vote of 357-70.  Among the many provisions of the bill are housing tax credits: the restoration of the 12.5 percent allocation increase for 2023-2025 and the reduction of the bond threshold required to access the 4 percent credit from 50 percent to 30 percent for 2024 – 2025.   

On January 24th, Governor Healey revealed the FY2025 budget proposal of $56.1 billion for the upcoming fiscal year, focusing on investments in education, infrastructure, and housing.

On January 16th, Congressional leaders introduced a bipartisan tax proposal, the Tax Relief for American Families and Workers Act of 2024. The proposal includes an expansion of the Child Tax Credit, other business-related policies, and certain provisions of the Low-Income Housing Tax Credit (LIHTC). The tax package, valued at around $80 billion, reinstates a 12.5% increase in the Low-Income Housing Tax Credit, a boost that had ended in 2021. It also promotes the use of private activity bonds to fund affordable housing.

On January 22nd, the Healey-Driscoll Administration announced investments in affordable housing for the production and preservation of over 1,900 housing units in 19 communities. This involves the allocation of state funding and Low-Income Housing Tax Credit (LIHTC) support for various projects. The Legislature and the Administration passed a $1 billion tax relief bill in the fall of 2022, which included raising the Low-Income Housing Tax Credit to $60 million annually – a $20 million increase over the previous year. 

On January 8th, the Healey Administration announced a revision to the current fiscal year's budget called 9C cuts, which involves a $375 million reduction due to lower-than-expected tax collections. The Administration projected a $1 billion decrease in tax revenue for this budget year which may also impact the FY2025 budget. 

The House passed a $2.74 billion FY2023 Closeout Supplemental budget (H. 4167) which includes an allocation of $250 million for the emergency shelter system on November 8th. The Administration had requested the $250 million for the emergency shelter system in September in their supplemental budget proposal. The House version lays out specific directions on how that money could be spent.

Currently, Massachusetts' emergency shelters are at capacity due to a prolonged housing crisis compounded by a pressing humanitarian issue with many individuals and families fleeing their home countries due to conflict, persecution, or economic hardship. CHAPA is working with the Massachusetts Coalition for Homeless (MCH) and the Massachusetts Law Reform Institute (MLRI) to advocate for the preservation and protection of our family shelter system, and to provide safe and affordable housing for every family in Emergency Assistance shelter.