An Act releasing certain land use restrictions held by the commonwealth in the city of Revere
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill allows the Commonwealth of Massachusetts to release certain land use restrictions on a parcel of land in Revere. Specifically, it will remove restrictions on parking and building height, and restore a property right. The release will be subject to a fair market value appraisal and review by the state’s inspector general, with a requirement that 10% of new housing units developed on the land be affordable for households earning up to 80% of the area median income.
Key provisions
- The Commissioner of Capital Asset Management and Maintenance will release land use restrictions.
- The release of restrictions will be based on a fair market value appraisal.
- The state’s Inspector General will review and approve the appraisal.
- The property owner will assume costs associated with the conveyance.
- At least 10% of new housing units developed on the land must be affordable housing.
- Affordable housing units must be priced for households earning up to 80% of the area median income.
- Affordable housing restrictions must be maintained for 20 years.
- The Commissioner must submit agreements and reports to the inspector general and relevant committees for review.
Who is affected
- City of Revere
- Commonwealth of Massachusetts
- Property Owners in Revere
- Potential Residents of Affordable Housing
- Developers in Revere
Bill text
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Sponsors
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2 on record
Primary sponsor
Joint Committee on State Administration and Regulatory Oversight
Cosponsor
Jeffrey Rosario Turco
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