Massachusetts Gov. Charlie Baker signs $1.8 billion bill authorizing spending on housing modernization and redevelopment
A low-income tax credit for affordable housing projects would hit $20 million a year. Another tax credit program would allow for the commitment of $10 million for market-rate housing projects in so-called “Gateway Cities” like Springfield and New Bedford. And the Massachusetts Department of Housing and Community Development would be able to spend $10 million or more on producing and preserving housing for people recovering from substance abuse. All three items are part of in a $1.8 billion borrowing bill signed by Gov. Charlie Baker on Thursday. Baker has pressed for the capital spending bill, citing the state’s tight housing market and the need to increase production to deal with high demand and low supply. According to the nonprofit Massachusetts Housing Partnership, more than 240,000 low-income people spend half their income on rent.