Massachusetts House Bill H1320

Massachusetts 2023-2024 Regular Session

• Introduced: 2/16/23
• Refer: 2/16/23

Caption

To promote housing cooperatives

Impact

The bill's introduction is particularly significant as it intends to promote collective ownership models in a housing market that is often unaffordable for many residents. By establishing a dedicated center, the bill seeks to enhance awareness of the benefits of cooperative housing, which could lead to an increase in housing availability and affordability. It will also allocate substantial state funding, suggesting a strong commitment to fostering this housing model.

Summary

House Bill 1320, titled 'An Act to promote housing cooperatives', aims to establish a Massachusetts Center for Housing Cooperatives within the Community Economic Development Assistance Corporation (CEDAC). This center is intended to provide educational outreach, promote cooperative resident ownership, and increase the number of cooperatively owned properties in the state. The bill emphasizes a focus on low to moderate-income individuals, aiming to create comprehensive support for cooperative housing initiatives.

Contention

While the bill aims to support housing cooperatives, there may be contention regarding how effectively it can operate within existing housing frameworks. There could be debates on the efficacy of government intervention in housing markets, particularly concerning the allocation of the proposed $100 million budget for cooperative initiatives. Additionally, the bill may face scrutiny from those who argue that it does not address other pressing housing issues, such as zoning laws and the availability of land for development.