NEW: MA To Invest $67 Million in Over 1,300 Housing Units Statewide

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Thursday, February 07, 2013

GoLocalWorcester News Team

Secretary of Housing and Economic Development Greg Bialecki announced on Thursday that Massachusetts will pump $67 million into affordable housing resources and tax credits to improve the Bay State's housing infrastructure in 21 communities.

The 23 projects across the Commonwealth are poised to create 1,326 housing units and an estimated 1,710 construction jobs.

“Creating affordable housing helps to generate jobs, grow local businesses and strengthen our communities,” said Governor Deval Patrick. “Government’s role is to help people help themselves, and sustainable affordable housing will build a better Commonwealth for generations to come.”

Included in the $67 million investment, are over $9 million in federal low-income housing tax credits, $7.7 million in state low-income housing tax credits and $47.7 million in state and federal housing program subsidies.

Out of the 1,326 units, 1,164 will be affordable to low- and moderate-income individuals and households, and 298 units will be reserved for extremely low-income families, including those making the transition from homelessness.

At Webster's Sitkowski School, Neighborhood of Affordable Housing will use $1,275,361 in federal and state Low Income Housing Tax Credits and $2,715,000 in DHCD housing subsidies to develop 66 units of affordable senior housing, and the project is expected to create 125 jobs.

“All families deserve access to quality housing in Massachusetts,” said Lieutenant Governor Timothy Murray, Chair of the Interagency Council on Housing and Homelessness. “Our Administration is committed to providing more affordable housing options for low-income families, and this latest round of resources and tax credits will increase our housing infrastructure and lead to improved community development in regions across the state.”