WeVote
Log In

Bill

Bill

HD 4660

An Act authorizing the town of Wellesley to dissolve its Housing Development Corporation

194th Legislature (2025-2026) Introduced by Alice Peisch

Dissolve Wellesley's Housing Development Corporation and transfer its assets to the Municipal Affordable Housing Trust Fund, consolidating affordable housing under MAHTF.

Referred to the committee on Municipalities and Regional Government
0
WeVote Research Nonpartisan
Bill Summary · HD 4660

Summary: House Bill HD 4660 — An Act authorizing the town of Wellesley to dissolve its Housing Development Corporation

Purpose and overall intent

  • The bill would authorize the Town of Wellesley to dissolve its Housing Development Corporation (HDC), an entity created under Chapter 311 of the Acts of 1998.
  • Upon dissolution, all property and funds held by the HDC would be transferred to the Municipal Affordable Housing Trust Fund (MAHTF) established by the town under Section 55C of Chapter 44.
  • The transfer and dissolution are designed to consolidate affordable housing efforts within a single town mechanism governed by the MAHTF and town by-laws.

Key provisions

  • Section 1 — Transfer of assets and funds

    • Notwithstanding Section 5 of Chapter 311 (and other laws), all property and funds held by the HDC would be transferred to the MAHTF.
    • The MAHTF would manage, dispose of, or expend the transferred assets in accordance with Section 55C of Chapter 44 and any applicable town by-law.
    • This section effectively redirects the HDC’s resources to the town’s Municipal Affordable Housing Trust Fund.

  • Section 2 — Repeal

    • Chapter 311 of the Acts of 1998 would be repealed.

  • Section 3 — Effective date

    • The act would take effect when the town posts or publishes, by the town clerk, an amendment to the town’s general by-laws establishing an affordable housing trust in the town under Section 55C of Chapter 44.

Who is affected

  • Town of Wellesley and its residents
    • The HDC (a local housing development authority) would be dissolved.
    • The MAHTF would become the primary vehicle for managing and funding affordable housing programs through assets transferred from the HDC.
    • The town’s by-laws would need to establish or formalize the MAHTF as the town’s affordable housing trust.

Procedural and timeline aspects

  • Introduced/Filed: May 7, 2025 (House Docket No. 4660) and introduced in the 2025-2026 session.
  • Primary sponsorship: Rep. Alice Hanlon Peisch (Wellesley) and Sen. Cynthia Stone Creem.
  • Status: Referred to the Committee on Municipalities and Regional Government (as of May 12, 2025).
  • Local approval noted: The petition indicates local approval has been received.
  • Effective date: Triggered by the town’s posting/publication of a by-law amendment establishing an affordable housing trust under Section 55C.

Potential impact and considerations

  • Governance and administration
    • Centralizes affordable housing funding and oversight under the MAHTF, potentially simplifying management and aligning with state provisions under Chapter 44, Section 55C.
  • Fiscal implications
    • Transfer of assets/funds from the HDC to the MAHTF could affect how affordable housing initiatives are funded and prioritized locally.
  • Compliance and implementation
    • Requires the town to amend its by-laws to establish the MAHTF; once posted/published, the act would take effect.
  • Legal transition
    • Repeal of Chapter 311 clarifies that the HDC’s authority and powers would be dissolved in favor of the MAHTF framework.

This bill represents a structural shift in how Wellesley finances and manages affordable housing, moving from a standalone Housing Development Corporation to a town-established Municipal Affordable Housing Trust Fund structure.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.