On November 30, 2016, Kurt James of KJP and Beth Elliott, General Counsel at Massachusetts Housing Finance Agency, Co-Chairs of the Real Estate Bar Association (REBA) Affordable Housing Committee, moderated a panel discussion focusing on the newly enacted Workforce Housing Production Trust Fund Program.
Our discussion focused on the fact that Massachusetts continues to suffer from a lack of affordable housing for working families. Further, Gateway Cities have commercial and industrial core areas suffering from neglect, a lack of investment and many buildings empty or significantly underutilized. Among other initiatives in the Economic Development Bill which passed last August, the Workforce Housing Production Trust Fund Program will provide new tax exempt bond funds and work to leverage existing tax credits for use in workforce housing. In addition, MassHousing’s $100 million workforce housing fund supports the creation of rental housing that is affordable for working families whose incomes are too high for subsidized housing but are priced out of market rents. In combination, these initiatives promise to significantly expand opportunities for development of workforce housing in the Commonwealth.
Edward C. (Ted) Carman, Jr., President of Concord Square Planning & Development, Inc., Eleanor White, President of Housing Partners, Inc. and Beth Elliott, General Counsel of MassHousing were our guest speakers.