An Act to promote housing cooperatives

This bill creates a new Massachusetts Center for Housing Cooperatives within the Community Economic Development Assistance Corporation to support low- and moderate-income residents. The center will be tasked with educating the public, preserving existing cooperative properties, conducting research, and distributing grants to expand resident ownership. To fund these efforts, the legislation appropriates $100 million in fiscal year 2024 for acquiring real estate, rehabilitating properties, and meeting capital needs through various housing agencies. Additionally, the center's director must submit an annual report detailing the state's inventory of cooperatives and the activities undertaken to promote this housing model.