Senator Jamie Eldridge and Rep. Nika Elugardo File Legislation with HERO Coalition to Provide $300 million in New Revenue for Climate Resiliency and Affordable Housing
Housing and Environment Revenue Opportunities (HERO) fund would dedicate new deeds excise revenue to increase communities’ affordable housing and climate resiliency projects.
Boston, MA - Senator Jamie Eldridge (D-Acton) and Rep. Nika Elugardo (D-Boston) filed An Act providing for climate change adaptation infrastructure and affordable housing investments in the Commonwealth (S.D. 3056 & H.D. 5275).
This legislation, initiated by the Housing and Environment Revenue Opportunities (HERO) Coalition, would double the Deeds Excise Fee on home purchases from $4.56 per $1000 to $9.12 per $1000. The bill proposes that half of the new revenue would be dedicated to climate mitigation and resiliency through the Global Warming Solutions Trust Fund. The other half of the revenue would go to aid working-class homeowners through the Affordable Housing Trust Fund and low-income renters and the homeless through the Housing Preservation and Stabilization Fund. Massachusetts's current Deeds Excise Fee is less than half the fee in neighboring states.
“I am very proud to be filing this legislation alongside Representative Elugardo,” said Senator Eldridge. “The climate crisis and the housing crisis are two of the biggest crises we are facing today, and they are certainly related. This legislation addresses both concerns simultaneously and will provide relief for the environment and for families in need of housing. Thank you to the HERO coalition for this terrific advocacy on these issues. As a long-time champion of both combating climate change and creating more affordable housing, An Act providing for climate change adaptation infrastructure and affordable housing investments in the Commonwealth seeks to make critical investments that highlight that true climate justice is not just about the impact of global warming, but also making sure that everyone has a home, as we face the existential crisis of climate impacts on Massachusetts.”
“This legislation will create the resources to address the housing crisis compounded by COVID, covering emergency rental assistance that both landlords and tenants desperately need to stay afloat. It also positions us to more proactively address our two greatest statewide challenges going forward, making housing affordable again and building resiliency against the extreme impacts of climate change,” said State Representative Nika Elugardo. I'm honored to join the broad coalition of leaders who negotiated this creative and elegant solution in partnership with Senator Eldridge.”
"The lack of affordable housing and the threat of climate change are both moral crises, and we must address them," said Cindy Rowe, Executive Director of the Jewish Alliance for Law and Social Action. "We are jeopardizing the lives of our residents, and the life of our planet. This legislation recognizes that we must take responsibility for ensuring that every person in our Commonwealth has a home, and that we are protecting our environment for generations to come," she concluded.
Executive Director of Better Future Project Craig S. Altemose said, "2020 has brought us record-breaking, pollution-fueled wildfires and hurricanes as well as a pandemic that has brought greater insecurity to an already crisis-situation housing market. 350 Mass members are proud to stand with housing and climate advocates in calling for a reasonable fee increase to better fund important climate and housing measures to advance a Commonwealth where all of our residents can live without fear of eviction from housing prices or evacuation from climate disasters." Better Future Project works to build a democratic grassroots movement that will drive society to address climate change.
“With more than 300,000 Massachusetts tenants facing eviction for rent arrearages that come due in January, the HERO bill will provide urgently needed relief to renters and landlords alike,” said Michael Kane of the Mass Alliance of HUD Tenants, which helped initiate the HERO proposal in 2019. “We urge legislative leaders to include this in the 2021 budget now to prevent catastrophic mass displacement during the COVID pandemic.”
Co-Director of Massachusetts Communities Action Network (MCAN) Lew Finfer said, “We commend Senator Eldridge and Representative Elugardo for filing this bill for funding for affordable housing, both rent subsidies for low income people and new affordable housing, plus for building resilience related to climate change. Raising the Deeds Excise Tax, which hasn't been raised in 50 years, to fund two major needs is a good way to go. Let's work to get it passed.”
The ~$150 million for climate change would be divided 50-50 into two categories: financing The GreenWorks Capital Improvement Act and Climate Resilience Act (H3987) as passed by the House, to provide flexible grants to localities for climate resilience and mitigation, and allocating funds to the Municipal Vulnerability Preparedness (MVP) program and the MA Climate Clearinghouse programs, as proposed by S.10.
The other $150 million would be divided 60-40 into two categories: aiding working-class homeowners and renters through the Affordable Housing Trust Fund, which could create or preserve additional housing for 18,000 households over 10 years, and aiding low income renters and the homeless through Housing Preservation and Stabilization Fund.
“This legislation could not be more timely and more essential,” said Joseph Kriesberg, President of the Massachusetts Association of CDCs and a leader in the coalition advocating for the proposal. “We are facing a housing and eviction crisis of untold magnitude while the climate crisis worsens by the day. The time for talking has passed. The time for action is now!”
This legislation is supported by the Housing and Environment Revenue Opportunities (HERO) Coalition. The HERO Coalition is a diverse coalition of environmental and housing advocacy organizations that has come together to advocate for major new state investments to protect families, neighbors and communities from the affordable housing crisis and the long-term existential threat of climate change.
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