New Marlborough Housing Awarded State Grant
NEW MARLBOROUGH, Mass. — The state awarded Casillis Farm funds to subsidize 11 units making them affordable to families, including three deeply affordable units below 30 percent of the area median income (AMI).
Governor Maura Healey and Housing and Livable Communities Secretary Ed Augustus joined local officials and housing developers from across the state to announce the 2024 Affordable Housing Development Grant Awards. A total of $227 million in state and federal tax credits and subsidies will support the creation or preservation of 1,874 rental units across Massachusetts.
"These awards are one of the most effective tools our administration has to increase the development of housing that is affordable for people across the state," said Governor Maura Healey. "Along with our Affordable Homes Act, we're working to lower the cost of housing across Massachusetts to benefit our families, businesses and economy."
The projects include a total of 1,731 affordable rental units for residents making less than 60 percent of AMI, with 480 units set aside for residents making below 30 percent AMI and often experiencing homelessness.
This is the Executive Office of Housing and Livable Communities' largest annual grant award that supports the development of affordable rental housing units statewide. The total investment includes, $27.1 million in 4 percent federal tax credits, $12.1 million in 9 percent federal tax credits, $44.5 million in state tax credits and $143.4 million in state subsidy funds.
In addition to analyzing how these projects met the state's housing goals, the Administration carefully evaluated the green, sustainable and climate resilient aspects of every application to ensure that all projects selected for awards will help further the state's climate objectives.
Tags: housing,
