Mayor Wu announces proposals on housing, planning and development MABA MassachusettsRealEstate FirstTimeHomeBuyers MassBuyerAgents

 Boston Mayor Michelle Wu has released the city of Boston’s 2023-2024 legislative agenda, and it includes initiatives that touch housing, transportation, early education, climate, planning and development. Wu says her legislative proposals would address “very urgent issues” in the lives of Boston residents. “We are excited to partner with our colleagues on Beacon Hill to ensure Boston and the Commonwealth move forward on these shared priorities,” Wu said. Among the seven proposals to amend current state laws, three will affect real estate.

 Wu plans to refile the city’s home rule petition to levy a fee of up to two percent on real estate transactions above $2 million and increase tax credits for senior homeowners. The fee will  “generate nearly $100 million annually to create and preserve affordable housing in Boston and reduce property taxes for qualified low-income senior homeowners,” according to the mayor’s office. Wu says the city will also file a home rule petition that builds on her housing affordability initiatives. This petition will seek to protect families from rent gouging and displacement.

 Since being elected, the mayor’s office has signed executive orders speeding up the production of affordable housing, ensuring fair housing affordability and hiring the city’s first planning chief. Wu also has announced a plan to use city-owned land for new home development. Additional bills include pursuing legislation to add a Boston seat on the MBTA’s board of directors, making fares on the MBTA’s commuter rail more in line with MBTA subway fares, more consumer protections from energy suppliers and ensuring all families in the city have access to early education.

The post Mayor Wu announces proposals on housing, planning and development appeared first on Boston Agent Magazine.

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