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Linkage Funds to Pay for Affordable Housing Units

BOSTON-Hundreds of affordable housing units are going to be built here using linkage funds, which are fees collected from developers building large projects in this city. Mayor Menino has been criticized in the past for neglecting the issue of affordable housing.

By Naomi Grossman | Updated on May 14, 2001

BOSTON-Linkage funds from developers here are going to be used to build hundreds of new affordable housing units throughout this city. Mayor Thomas M. Menino will reportedly use $13 million to build 800 units, which is said to be the largest investment of linkage funds ever in this city.

City Hall did not return calls by presstime, but Menino has been criticized in the past for neglecting the issue of affordable housing. Linkage fees are collected from developers who want to build large projects. The fees are collected to compensate for the impact of a large development project on neighborhoods.

The Neighborhood Housing Trust, which collects these fees, reportedly recently received numerous building proposals that enabled it to put money into building new units. Menino is reportedly expected to award the contracts to developers shortly. The city’s economic development agency added $1.75 million of its housing funds to the pot.

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