<< backHousing Plan Profile: Boston, MA
Plan title: Leading the Way III, all reports and updates available on the Department of Neighborhood Development's website.
Issued: March 2009
Overview: This plan was written by a housing advisory panel convened by Mayor Menino in 2008. The plan is an extension of two previous comprehensive housing campaigns and addresse four key areas: Housing Boston's Workforce; Reversing the Rise in Homelessness; Addressing the Foreclosure Crisis; and Preserving & Stabilizing Boston's Rental Housing. Building on previous plans, the emphasis is on increasing the overall supply of housing in this high-cost city, through the rapid turn-around of foreclosed and vacant properties, zoning strategies allowing greater residential development, and efforts to stabilize properties in poor condition or in danger of foreclosure. |
Photo courtesy of ULI Development Case Studies
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Selected Strategies:
- Stabilize neighborhoods and promote neighborhood reinvestment through ongoing emergency and basic health and safety home rehabilitation services for low-income and senior households, and exterior home improvement rebate incentives.
- Return abandoned, vacant and eyesore properties to productive use through an interagency public information campaign, owner referrals to City assistance, and foreclosure and receivership actions when appropriate.
- Facilitate development of publicly-owned land by offering discounted sales to moderate-income first-time homebuyers for construction of owner-built homes, and packages of lots to contractors for construction of affordable housing.
- Streamline the permitting process through the use of technology and other efficiencies.
- Use zoning tools, such as mixed-use zoning around transit nodes, incentive zoning to permit taller residential building in the downtown, and an increase in the City's inclusionary development requirement from 10 to 15 percent of market-rate units, to increase the availability of units.
- Expand employer-assisted housing goals by encouraging medical and educational institutions efforts to build housing for students, faculty, and staff.
- Maintain the supply of affordable rental housing by preserving subsidized rental units with expiring use restrictions and non-profit owned housing in financial or physical distress, and providing assistance for non-profit and private owners to easily acquire existing unregulated rental properties, in exchange for a continued commitment to affordability.
- Renovate public housing using HOPE VI resources, and increase accessibility for people with disabilities and seniors.
- Boston Homebuyer Investment Fund demonstration -- private investors provide capital to homebuyers, and receive a proportionate share of property appreciation upon sale or refinancing of property.
- Implement the Don't Borrow Trouble campaign and other foreclosure prevention efforts, including technical assistance, expanded credit management training and Homeownership Fairs, and assist homeowners to refinance out of predatory loans.
- Continue homelessness prevention efforts and expand housing opportunities for, and outreach to the homeless.
Financing Sources Identified:
- Boston Homebuyer Investment Fund, capitalized by private investors (proposed)
- City linkage fees and inclusionary zoning cash-out fees
- Funds raised through sales of City properties and tax foreclosed properties
- Hotel Loan Fund Income and fees
- Massachusetts Housing Partnership programs, recapitalized by private financial institutions
- State bonding authority (proposed increase in the amount used for housing from 9.1 to 15 percent)
- MassHousing's Priority Development Fund, composed of surplus HFA reserve funds
- Keyspan Energy grant funding in support of energy conservation in affordable housing
- Low Income Housing Tax Credit
- Federal Home Loan Bank Affordable Housing Program and Equity Builder Program
- Federal funds (Section 8, HOPE VI, CDBG, HOME funds)
Background:Written by the Leading the Way II Housing Advisory Panel, convened by the Mayor.
The lead agencies are the Department of Neighborhood Development, Boston Housing Authority, and the Boston Redevelopment Authority; other partners identified include the Inspectional Services Department, MassHousing, Department of Housing and Community Development, and the Massachusetts Housing Partnership.
The timeline identified spans three fiscal years, and production goals and preservation goals are specified throughout. The target population includes households earning up to 120 percent of the area median income (AMI), although 90 percent of resources benefit households earning less than 80 percent AMI, including people experiencing homelessness.
