Massachusetts Senate Bill S871

Massachusetts 2023-2024 Regular Session

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

Caption

To promote housing cooperatives

Impact

This legislation has significant implications for state laws governing housing and community development. Specifically, it empowers the newly established center to coordinate various initiatives aimed at increasing the availability and awareness of cooperative housing. The proposed center will also administer grant funds allocated for the development and maintenance of housing cooperatives, thus providing much-needed financial resources to support these initiatives in the state's housing market.

Summary

Bill S871, known as the Act to Promote Housing Cooperatives, aims to establish a Massachusetts Center for Housing Cooperatives within the Commonwealth's Community Economic Development Assistance Corporation (CEDAC). This center is designed to provide education, outreach, and promotional efforts focused on expanding cooperative resident ownership, preserving and increasing cooperatively owned properties, and promoting the benefits of cooperative housing to the public and policymakers. By fostering a supportive environment for housing cooperatives, the bill intends to enhance housing accessibility for low to moderate-income residents in Massachusetts.

Contention

As with many housing-related initiatives, S871 may face contention in its implementation, particularly concerning the allocation of the proposed $100 million budget for promoting housing cooperatives. Discussions around equity in housing and the balance between cooperative models and traditional homeownership structures could spark debate among stakeholders in housing policy. Furthermore, the necessity and effectiveness of such a centralized body to promote cooperative housing may also be scrutinized by various advocacy groups and lawmakers concerned with the potential for bureaucratic inefficiencies.