July 25, 2019 Comments Off on City of Boston Announces New $30M Affordable Housing Funding Round Views: 893 Boston, Boston New England News, Top Boston

Boston Mayor Martin Walsh has announced that the City of Boston has released a request for proposals for affordable housing projects seeking financial support. The $30-million round of funding is nearly double the size of last year’s $16-million round.

“Building and preserving affordable housing in our city is one of our biggest efforts in Boston, and my administration will continue to invest heavily in these critical funds,” said Walsh in a press release. “These projects bring our commitment to affordable housing to more than $130 million, with more investments planned in the future. We will keep working to ensure all families are able to stay in their neighborhoods and continue to call Boston home.”

The 2019 funding round specifies that proposals which provide “deeper affordability” will be ranked most favorably. That stipulation for deeper affordability includes at least an additional 10% of units for extremely low-income households. Other criteria that proposals must meet include developments targeting a mix of incomes, developments that serve the disabled community or special needs populations, and developments that are at risk of losing their affordability within five years.

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City of Boston Announces New $30M Affordable Housing Funding Round

David Cohen