Photo courtesy of Alexius Horatius
HYANNIS – The seasonal communities designation championed by local lawmakers has been signed into law by Gov. Maura Healey among other measures in the $5.16 billion Affordable Homes Act Tuesday.
The designation applies to towns with at least 35% of local housing owned as second homes.
Communities with the designation would have access to several tools including a $50 million bond authorization to fund affordable housing, funds for public employee housing, increases to the residential property tax exemption for the primary homes of year-round residents up to 50%, and more.
It will also enable the construction of smaller units on otherwise undersized lots, so long as they are designated for year-round housing.
Cape and Islands State Senator Julian Cyr (D-Truro) applauded the move, saying it’ll play a crucial role in providing housing for year-round residents.
“The housing crisis has caused Cape Cod, Martha’s Vineyard, and Nantucket to become profoundly unaffordable,” said Senator Cyr in a statement.
“The Affordable Homes Act is a huge step forward in our long-sought efforts to provide relief to Cape Codders and Islanders struggling to afford to year-round housing. The realization of a seasonal communities designation and the accompanying tools are a game changer in our efforts to salvage our year-round economy and community in the face of a daunting housing market.”
The state is looking to produce, preserve or rehabilitate more than 65,000 units in the next five years.
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