The Boston administration under Mayor Marty Walsh has announced an $8.5 million program to aid nonprofit housing developers acquire parcels for affordable housing. Mainly aimed at vacant parking lots and other underutilized parts of neighborhoods in the city that are close to public transportation, the program underlines housing as a legislative priority.
The city of Boston will contribute $2.5 million to the loan fund while $6 million are thrown into the pot by the Community Economic Development Assistance Corporation and the Local Initiatives Support Corporation.
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