Agenda Summary
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Requesting approval to create a Housing Assistance Stabilization fund under the provisions of Massachusetts General Law Chapter 40, Section 5B.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council approve the creation of the Housing Assistance Stabilization Fund under the provisions of M.G.L. Chapter 40, Section 5B. The purpose of the fund will be to provide assistance and support to eligible residents at risk of facing eviction and other forms of displacement.
Receipts to the Fund may include free cash appropriations, grants, donations, developer mitigation, re-purposed stabilization funds, and 35% of the community impact fee for short-term rentals.
Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter.
Respectfully Submitted,
Katjana Ballantyne, Mayor