Yarmouth to Receive Grant for Affordable Housing

Yarmouth Green will produce 69 units of affordable housing...
State Rep. Timothy Whelan

From the office of State Representative Tim Whelan:

Today Representative Timothy Whelan (R-Brewster) joined Yarmouth Town Administrator Daniel Kanpik in traveling to Holyoke City Hall to meet with Lieutenant Governor Karyn Polito, Undersecretary Chrystal Kornegay, and other state and local officials, to attend an announcement of grant funding being disbursed by the Massachusetts Department of Housing and Community Development.  Yarmouth's application for $4,550,000 in a combination of federal and state low income tax credits, affordable housing trust monies, housing stabilization funds, and DHCD HOME funds was recognized in the grant awards announced today.  These funds will assist the Town and developers of the Yarmouth Green project in producing 69 units of affordable housing.  

 

"I want to thank Governor Baker and Lt. Governor Polito, as well as Secretary Jay Ash and Undersecretary Chrystal Kornegay, for their continued commitment to work with our communities here on Cape Cod and across the Commonwealth to address our housing crisis, which is especially felt here, locally.", Whelan said.  "The Baker-Polito administration has shown themselves time and again to be true partners with our municipalities in solving critical issues and the Town of Yarmouth should be proud of their efforts to develop affordable workforce housing.  I deeply appreciate having had the opportunity assist Yarmouth officials in advocating for funding for this project". 

 

 

From today's DHCD Press Release:  

 

HOLYOKE, MA — Today, the Baker-Polito Administration announced more than $20 million in subsidy funds, and allocated more than $15 million in State and Federal Low Income Housing Tax Credits (LIHTC) to support six new affordable housing projects in Massachusetts. The projects represents 511 new rental units, including 348 affordable units, with 55 reserved for extremely low-income residents, and families transitioning out of homelessness. Since 2015 the Baker-Polito Administration has provided direct funding to create and preserve over 5,700 units of affordable housing across Massachusetts.

“Providing safe, affordable and quality housing to residents and families is a priority for our administration, and today’s announcement builds on our goal of creating 135,000 new housing units by 2025,” said Governor Charlie Baker. “A second round of affordable rental housing awards this year helps ensure a strong pipeline of new, mixed-income construction across the Commonwealth.”

The administration is awarding more than $20 million in housing subsidy funds, and more than $15 million in State and Federal LIHTC, which will generate approximately $77 million in equity to support these projects. Each awarded project leverages substantial local funding commitments, including Community Preservation Act funds and municipal contributions.

“Today’s announcement supports six mixed-income housing opportunities from across the Commonwealth that have received significant community support,” said Lt. Governor Karyn Polito. “We look forward to working with our partners in the legislature and local leaders to help ensure our diverse population has access to the housing they need.”

“Access to housing that is affordable to residents across the income spectrum is critical to the success of the cities and towns that make up our Commonwealth,” said Housing and Community Development Undersecretary Chrystal Kornegay. “The projects awarded today are the result of strong collaboration between municipal leaders, developers and communities committed to providing more housing options to our residents and families in Massachusetts.”

This award round builds on the Baker-Polito Administration’s commitment to increasing housing production across Massachusetts. Earlier this month, Governor Baker announced a new, ambitious Housing Choice Initiative to create 135,000 new housing units by 2025. In April, Governor Baker filed a housing bond bill seeking $1.287 billion in additional capital authorization to advance the administration’s commitment to affordable housing, has increased funding for affordable housing by 19 percent and is on course to invest $1.1 billion over five years in affordable housing.

The highly effective MassWorks Infrastructure Program continues to be a key catalyst for housing production, supporting the creation of more than 3,000 housing units. The Open for Business Initiative will drive the production of more than 2,200 units of housing on state land. MassHousing’s $100 million Workforce Housing Initiative has advanced the development of 1,809 housing units across a range of incomes, including 510 workforce housing units. And, through An Act Relative to Job Creation and Workforce Development, the administration reformed the Housing Development Incentive Program, which is on track to facilitate 630 new units in Gateway Cities, and renewed its commitment to the 40R Smart Growth Zoning Program.

Affordable Rental Housing Awards:

Yarmouth Green, Yarmouth is a 69-unit new construction project. The sponsor is Dakota Properties. DHCD will support the project with federal and state Low Income Housing Tax Credits and subsidy funds. The Town of Yarmouth will support the project with over $2 million in Community Preservation Act funds. When completed, Yarmouth Green will offer 69 affordable units, including seven units restricted for families earning less than 30 percent of AMI.


CapeCodToday.com welcomes thoughtful comments and the varied opinions of our readers. We are in no way obligated to post or allow comments that our moderators deem inappropriate. We reserve the right to delete comments we perceive as profane, vulgar, threatening, offensive, racially-biased, homophobic, slanderous, hateful or just plain rude. Commenters may not attack or insult other commenters, readers or writers. Commenters who persist in posting inappropriate comments will be banned from commenting on CapeCodToday.com.