Mass.: State lawmakers pass housing bond bill

(AP) — The Legislature has authorized the state to borrow up to $1.4 billion over the next five years to build and maintain affordable housing.

Legislative leaders say the measure that won final approval in the Senate on Thursday was the first long-term housing finance bill to come before lawmakers since 2008.

The bill authorizes $500 million to rehabilitate and modernize public housing. More than $300 million would be directed to a trust fund that creates or preserves affordable housing for families at or below the median income for their regions.

The measure would also establish a fund for capital improvements to nonprofit child care facilities.

Senate President said the goal is to help struggling communities provide more options for affordable housing to their residents.

About WATD Web Editor