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Developers, sponsor press Senate committee to restore original language for housing investment trust bill
Summary
Proponents told the Senate Commerce Committee that House Bill 633 (housing investment trust) would harness private and philanthropic capital to expand starter homes and workforce housing; supporters urged restoring original statutory language while opponents asked for study and legal safeguards.
Michael D’Alfano, the Amherst real-estate professional who drafted the trust concept, told the Senate Commerce Committee that House Bill 633 should move forward with the original language because it would create a Housing Investment Trust and independent revolving loan fund to pool private and philanthropic capital for starter homes.
“My proposal stabilizes growth and workforce,” D’Alfano told the panel, describing a multi-tiered structure that would include a charitable “Housing Investment…
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