Mass. is in line for $51m for affordable housing - Daily Business Update - The Boston Globe

Mass. is in line for $51m for affordable housing - Daily Business Update - The Boston Globe

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July 10, 2009 10:04 AM
By Jenifer B. McKim, Globe Staff

Massachusetts will receive $51 million in federal funding to build affordable housing for people affected by the economic crisis, the US Treasury Department said today.

The commonwealth is one of 12 states to receive $486 million in federal funding to spur development of affordable housing under the American Recovery and Reinvestment Act approved by Congress in February to stimulate the economy.

"This initiative will help spur construction and development, create much needed jobs, and increase the availability of affordable housing for families around the country,'' said Treasury Deputy Secretary Neal Wolin in a statement.

The funds come from more than $3 billion allotted to put people to work building affordable housing throughout the country, according to the Treasury.
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