Cronin highlights housing investment to Realtors
STERLING – Efforts to meet the state’s housing crisis were front and center when Senator John Cronin (D-Fitchburg) joined the Worcester County Realtor Association in Sterling to discuss his office’s efforts to meet housing-related challenges in the region and across the Commonwealth.
“If we are serious about building vibrant, affordable communities in North Central and beyond, then we need to continue to invest in housing production,” Cronin said. “Investments in housing are absolutely critical as we work to create a strong middle-class, stabilize our healthcare and community resources, and grow our local tax base. I’m excited by the steps we’ve taken to do this in recent years and look forward to the work we will undertake in the coming months to build on this progress.”
The event, which was attended by more than two dozen Worcester County realtors, discussed efforts to expand housing stock and informed attendees on how to engage legislators to meet this goal. Cronin, who co-chairs the Legislature’s Gateway Cities Caucus, highlighted several initiatives his office spearheaded to address housing needs in the region.
Among these efforts is the expansion of the Housing Development Incentive Program (HDIP), which allows Gateway Cities, like Fitchburg and Leominster, to provide local tax credits to developers who build local market-rate housing.
The Legislature’s 2023 tax relief bill allotted $57 million for HDIP, clearing the backlog of previously approved projects, and increased the annual cap on the program from $10 million to $30 million.
The legislation also increased funding for low-income housing, raising the annual authorization for the Low Income Housing Tax Credit from $40 million to $60 million.
Cronin also discussed the efforts by the region’s state delegation to provide immediate funding for local housing efforts. Among these is more than $1 million in direct funding in the past two state budgets for the city of Fitchburg and the Fitchburg Redevelopment Authority (FRA) to stand up grant programs to support housing development.
Housing production continues to be a primary focus for the legislature and Governor Maura Healey, who filed the Affordable Homes Act last October. When combined with the housing development tax credits in last year’s tax relief package, the bill is expected to facilitate the construction of more than 40,000 new homes, according to a release from the administration.
Cronin has reaffirmed his commitment to further address Massachusetts’ housing crisis as the Legislature prepares to take up its annual budget this spring.
