Code of Massachusetts Regulations
760 CMR - HOUSING AND LIVABLE COMMUNITIES, EXECUTIVE OFFICE OF
Title 760 CMR 18.00 - Massachusetts Capital Improvement and Preservation Fund
Section 18.05 - Acquisition, Preservation, and Improvement

Universal Citation: 760 MA Code of Regs 760.18

Current through Register 1531, September 27, 2024

All housing acquired, preserved, or improved by CIPF funds shall meet the following requirements:

(1) If funded pursuant to the CIPF I Legislation, for at least 30 years after a CIPF loan or grant is provided, a minimum of 50% of the total number of units shall be reserved for occupancy by Low or Moderate Income Persons or Families and, of such reserved units, a minimum of 10% of the units (that is, 5 % of the total number of units) shall be reserved for occupancy by Very Low Income Persons or Families.

(2) If funded pursuant to the CIPF II Legislation or M.G.L. c. 121G, for at least 40 years after a CIPF loan or grant is provided, a minimum of 50% of the total number of units shall be reserved for occupancy by Low or Moderate Income Persons and Families and, of such reserved units, a minimum of 10% of the units (that is, 5% of the total number of units) shall be reserved for occupancy by Very Low Income Persons or Families.

(3) MassHousing or United States Department of Housing and Urban Development regulations may require that a greater percentage of units than is specified in 760 CMR 18.05(1) or (2) shall be rented to or owned by Low or Moderate Income Persons or Families and Very Low Income Persons or Families.

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