On Nov. 14, Gov. Deval Patrick signed into law a $1.4 billion housing bond bill that will fund 11 capital programs over the course of five years.

The legislation includes $73 million to fund affordable housing developments in 17 municipalities.

The programs funded by the bond bill rehabilitate and modernize state-assisted public housing; preserve the affordability and income mix of state-assisted multifamily developments; and support homeownership and production of rental housing opportunities for low- and moderate-income residents, the elderly, persons experiencing homelessness, persons with disabilities, and veterans.

The legislation also includes significant funding to upgrade early education facilities serving low-income children.

“Creating or preserving affordable housing helps to generate jobs, grow local businesses and strengthen our communities,” Gov. Patrick said in a statement released by his office. “Government’s role is to help people help themselves, and sustainable affordable housing will create growth and opportunity in our communities that will last for generations to come.”

Last year, Gov. Patrick set a goal of permitting 10,000 units of multi-family housing per year statewide through 2020, seeking to increase the stock of both affordable housing and market-rate housing for households of varying incomes.

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