Aaron Gornstein announces $1.6 million tax credit to a crowd of about 50
For the second time in only two days state officials have come to Amherst bearing gifts. BIG ones:
On Tuesday the Governor announced a $1.5 million MassWorks Grant to relocate utilities underground in the north end of town center, and today Housing Undersecretary Aaron Gornstein announced a $1.6 million tax credit for Beacon Communities Development, the new owner of Rolling Green Apartments.
Select Board, Housing Sheltering Committee, Housing Authority, Rolling Green residents and town staff on hand
The money will allow the private company that specializes in affordable housing to do much needed "deferred maintenance." Last Spring Amherst Town Meeting approved $1.25 million in Community Preservation Act money to go towards the $30 million deal.
Representative Ellen Story "This is amazing!" (keeping the units affordable)
With the preservation in perpetuity of 41 units of affordable housing at Rolling Green (but all 204 units will count towards the SHI) the town stands a better chance of staying above the 10% Subsudized Housing Inventory, which inoculates against a developer coming into town doing a Ch40B development.