The MA Executive Office of Housing and Livable Communities announced that:
“On Aug. 6, 2024 Governor Maura Healey signed the Affordable Homes Act into law. The historic legislation authorizes $5.16 billion in spending over the next five years along with nearly 50 policy initiatives to counter rising housing costs caused by high demand and limited supply.
The bill includes unprecedented authorizations in modernizing the state’s public housing system, boosts programs that support first-time homebuyers and homeownership, and resources to build more housing for low to moderate-income residents. It also includes many policy changes that will unlock housing production in our state, such as allowing accessory dwelling units, support for the conversion of vacant commercial space to housing and support for sustainable and green housing initiatives.”
The bill set aside $5.16 Billion over the next five years to deliver many provisions meant to expand tax credits and incentives, veterans’ support, infrastructure, housing stock new and old, and so much more related to the development of and access to affordable housing. It establishes several key policies related to zoning, including:
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- Allowing Accessory Dwelling Units (ADUs) by right in single-family zoned districts
- Creates a Seasonal Communities designation and establishes an advisory council to assist in the development of programs & resources targeting these communities.
- This designations allows municipalities to increase an RTE to the rate of 50% tax shift onto part-timers, increasing the current cap from 35%.
- The designation of “seasonal communities” includes parts of the Cape and Islands, as well as the Berkshires, allowing for preferences for housing seasonal community workers, the adoption of zoning ordinances permitting undersized lots to be used for attainable year-round housing and the construction of tiny houses for use as year-round housing units.
There is a LOT more! Learn about it to understand how Truro may be impacted over the next five years at these links: