Key Programs and Resources
Affordable Housing Trust Fund (AHTF)
Administered by the Executive Office of Housing and Livable Communities
A bond-funded program supporting private housing development, both in terms of eligible uses and the range of incomes that may be served.
Federal Low-Income Housing Tax Credit (LIHTC)
Overseen by the U.S. Treasury through the IRS,
Administered by the Executive Office of Housing and Livable Communities
The Department allocates approximately $16-$18 million in annual per capita tax credit authority through annual rental funding competitions. The annual tax credit authority translates into over $150 million in equity for affordable rental projects and is the most powerful resource in Massachusetts, as elsewhere, for privately-owned affordable rental housing.
Housing Development Incentive Program (HDIP)
Administered by the Executive Office of Housing and Livable Communities
Designed to increase residential growth, expand diversity of housing stock, support economic development, and promote neighborhood stabilization in designated Housing Development Zones within Gateway municipalities by providing incentives to rehabilitate multi-unit properties for sale or lease as market rate units. The program provides two incentives for developers: a local-option property tax exemption and a state tax credit for qualified project expenditures.
*Additional Programs and Resources
HOME Program
Administered by the Executive Office of Housing and Livable Communities
A federal resource administered by the Department of Housing & Community Development that supports new rental housing, as well as an existing portfolio of ownership housing.
Housing Choice Initiative
Administered by the Executive Office of Housing and Livable Communities
Provides incentives, rewards, technical assistance and targeted legislative reform to Designation provides: 1) Exclusive admission to new Housing Choice Capital Grants & eligibility for a major new capital grant program, 2) Bonus points or other considerations for certain Commonwealth funding programs.
Housing Stabilization Trust Fund
Administered by the Executive Office of Housing and Livable Communities
A state bond-funded program that can support both rental and ownership projects serving individuals and households below 80 percent of area median income. The fund also supports projects that revitalize neighborhoods through the rehabilitation of abandoned or underused properties.
National Housing Trust Fund (HTF)
Administered by the Executive Office of Housing and Livable Communities
Enacted by Congress to support affordable housing opportunities for individuals or households who are either very low-income or extremely low-income. The fund will be funded annually with certain proceeds available from two government-sponsored entities – the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). The U.S. Department of Housing and Urban Development will administer the fund at the federal level and will distribute trust funds to participating states in accordance with an established formula. Massachusetts uses the fund for its supportive housing projects.
State Low-Income Tax Credits
Administered by the Executive Office of Housing and Livable Communities
Currently has an annual authority at $20 million. That allocation amount can generate up to $75 million annually in equity for tax credit projects. The state credit is a flexible that Department of Housing and Community Development makes available during its regularly scheduled rental funding competitions.