Boston Mayor Michelle Wu has announced millions of dollars in funding to go toward developing and maintaining affordable housing projects in the city.
Mayor Wu announced Wednesday that the city has released two requests for proposals that total $50 million. That funding is available to create and maintain rental, coop and homeownership developments in the city.
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Thirty million of that funding comes from sources controlled by the City of Boston’s Mayor’s Office of Housing and the Community Preservation Fund, while the remaining $20 million comes from Neighborhood Housing Trust Fund.
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"Safe and stable housing is critical for the health of our residents, families, and communities,” Mayor Wu said in a news release. "This funding will ensure significant investments go toward safe, accessible affordable housing in our neighborhoods across the city."
The city will virtually hold an applicants' conference on Aug. 24, and applicants are urged to submit a letter of intent by Aug. 26. A final proposal should be in by Sept. 30.
