GA Blog: State issues

12.14.11 MA State Government Adds Tax Credits for Low-Income Housing

The Gloucester Times recently reported that the state will be doubling its funding for low-income housing development next year through tax credits. The state will now be contributing more funds to that state than the federal government does.

The federal government contributes $14.2 million in tax credits to Massachusetts, opposed to $10 million that the state has provided. Starting next year the state is increasing their tax credits up to $20 million until June 30, 2014.

With the additional state tax credits it is expected that another 25 low-income projects, or roughly 1,200 units, will be developed that may not have been in the past. This translates into over 1,200 jobs in the Bay State.

Read the entire Gloucester Times article.

11.16.11 Tri-Town Region Districts Redrawn

The Tri-Town region recently went under redistricting and several regions in Boxford, Middleton and Topsfield will be represented by new state representatives, reported the Tri-Town Transcript. The redrawing of districts can take place every ten years.

Some of the major changes include:

1. Rep. Brad Hill, R-Ipswich, has lost Middleton and Boxford and now represents Topsfield and parts of Rowley.
2. Rep. Jim Lyons, Jr., who represents Boxford’s Precinct Two, will now represent Precinct One in Boxford as part of the 18th Essex District. Rep.
3. Harriett Stanley’s 2nd Essex District will now include Precincts 2 and 3 in Boxford Rep.
4. Ted Speliotis now represents the second precinct in Middleton of the 13th Essex District, consisting of the area north of Rte. 114.

Read the entire Tri-Town Transcript article.

10.17.11 Disaster Loans following 10/04/11 floods

The Salem News reports that a disaster loan center opened in Salem yesterday to help local victims of the Oct. 4 floods.

The Small Business Administration, which issued a disaster declaration for Essex County, is providing low-interest loans to North Shore residents and businesses who qualify. It is issuing home, business and economic injury disaster loans.

The SBA Disaster Loan Center is in a third-floor conference room at 120 Washington St., the City Hall annex. It is open from 9 a.m. to 5 p.m. Monday, Tuesday, Wednesday and Friday; from 9 a.m. to 7 p.m. Thursday; and 9 a.m. to 2 p.m. Saturday.

The center will remain open through Saturday, Oct. 29. There is public parking in the Church Street lot and in the Museum Place and South Harbor garages.

9.28.11 Massachusetts Program Encourages Land Donations

The Tri-Town Transcript recently reported that Massachusetts Energy and Environment Affairs (EEA) will begin a tax credit program that will encourage landowners to donate conservation land in order to boost Governor Patrick’s land conservation agenda.  

The Massachusetts Conservation Land Tax Credit Program will offer state income tax credits in exchange to land donations. Donated land must be appraised at $100,000 or more in order to receive a state income tax credit of $50,000.  Total funding for the program is capped at $2 million.

“With more than 85,000 acres protected since the governor took office, we have made outstanding progress and we anticipate continuing that trend through this new program that rewards the generosity of private landowners across the state,” said EEA Secretary Richard K. Sullivan Jr.

The EEA will be accepting applications until October 3, and will hold a random drawing to decide the order applications will be reviewed.

For more information and guidelines for donating land see the entire Tri-Town Transcript article.

7.5.11 Consumer Financial Protection Bureau Advisor Meets with Realtor® Leadership

The Beverly Citizen recently reported that Professor Elizabeth Warren, an advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB), recently joined Congressman John Tierney at the Salem State Enterprise Center to conduct a conversation with local community bankers, mortgage professionals, and Realtor® leaders.

The discussion covered the mission of the CFPB and how it will affect the local real estate and financial sectors in its efforts to protect consumers via reforms to the mortgage process. The CFPB’s goal is to protect Americans who are in the market for consumer financial products or services.

“Professor Warren continues to listen to consumers, bankers, realtors and other industry representatives to ensure that financial reform is as transparent and effective as possible,” said congressman Tierney. “It is imperative that community bankers and local realtors who understand the needs of our community are not trampled by the big banks that oppose the new consumer protection bureau.”

Read the entire Beverly Citizen article.

2.25.11 Sen. Kerry Fights to Keep Low-Income Heating Assistance in Budget

The Beverly Citizen reported February 11, 2011 that Senator John Kerry, D-Mass., has been fighting to keep oil heating assistance for low-income families in the budget for Fiscal Year 2012. President Obama has mentioned the Low Income Home Energy Heating Assistance Program as one that could be cut in the 2012 budget. 

Sen. Kerry has written letters to the majority and minority leaders of congress asking not to cut the program. Kerry also wrote letters asking the U.S. Department of Health and Human Services to commit to giving more money to the Massachusetts Department of Housing and Community Development for heating assistance.  As of the 11th, the U.S. Department of Health and Human Services agreed to an additional $1.6 billion in home-heating block grant funds.

 “I’ve always supported serious efforts to restore fiscal sanity, but in the middle of a brutal, even historic, New England winter, home heating assistance is more critical than ever to the health and welfare of millions of Americans, especially senior citizens,” Kerry wrote.

Read the entire Beverly Citizen article.