Code of Massachusetts Regulations
760 CMR - HOUSING AND LIVABLE COMMUNITIES, EXECUTIVE OFFICE OF
Title 760 CMR 58.00 - Urban Center Housing Tax Increment Financing (UCH-TIF) Program
Section 58.06 - The UCH-TIF Plan

Universal Citation: 760 MA Code of Regs 760.58

Current through Register 1531, September 27, 2024

(1) The UCH-TIF Plan shall focus on residential and Mixed Use development as a means of achieving the objectives of the UCH-TIF Program, shall meet the standards and requirements of M.G.L. c. 40, § 60, shall contain a specification of the building typology, the number of Affordable Housing units to be created on each Property, and such other information and documentation as set out in guidelines issued by the Department. Each UCH-TIF Plan shall include a requirement that housing units to be created on each Property in an UCH-TIF Zone pursuant to development or redevelopment for which the Owner will receive UCH-TIF Exemptions shall satisfy one of the following affordability thresholds:

(a) At least 15% of the housing units assisted by the UCH-TIF agreement shall be affordable to occupants or families with incomes at or below 80% of the AMI where the city or town is located, as defined by the United States Department of Housing and Urban Development;

(b) At least 25% of the housing units assisted by the UCH-TIF agreement shall be affordable to occupants or families with incomes at or below 110% of the AMI; or

(c) The property shall satisfy the requirements of an existing inclusionary zoning ordinance or by-law in the city or town, under which the property owner is required to make a portion of the housing units assisted by the UCH-TIF agreement affordable to low and moderate income households.

(2) Housing units that meet affordability thresholds shall be subject to use restrictions as provided in 760 CMR 58.08.

(3) Other Material. Other material required to be included in an UCH-TIF Plan may be specified in guidelines issued by the Department.

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