Massachusetts Gov. Mitt Romney has announced $209 million in incentives as part of the Massachusetts Green Communities initiative to encourage more environmentally friendly housing, according to a report in the Boston Business Journal.
The governor joined MassHousing, the Massachusetts Technology Collaborative and the Enterprise Foundation at an announcement made July 7 in East Boston. Together these organizations will provide $209 million worth of incentives to build 1,000 new, environmentally friendly homes in Massachusetts, according to the report.
The Boston Business Journal reports that MassHousing will provide approximately $125 million in mortgage financing. Massachusetts Technology Collaborative will provide $8.5 million in grants for renewable energy technologies. The Enterprise Foundation will provide up to $75 million in private equity to developers from the sale of low-income housing tax credits. Enterprise will also provide up to $500,000 in grants and loans for the pre-development, acquisition and construction of projects that meet specific green building standards.
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