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40T Compliance
Manage episode 418820005 series 2955001
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Chapter 40T is designed to preserve the stock of affordable rental housing in Massachusetts that is at risk of loss due to expiring affordability restrictions, and to protect tenants in these developments from displacement. It applies to affordable housing properties that are assisted with or funded by any of 16 specifically identified federal and state programs, such as rental assistance (Section 8) and state and federal Low Income Housing Tax Credits (LIHTC). Owners of properties subject to 40T must comply with its statutory and regulatory provisions in the event of a sale/transfer or termination of the rental restriction/subsidy.
Questions? Inquiries about program materials? Contact Trenon Browne at tbrowne@bostonbar.org
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