Section 34A. The commonwealth, acting by and through the department, may enter into a contract or contracts with a housing authority for state financial assistance in the form of annual contributions to assist projects financed by the MHFA which are leased in whole or in part by the said housing authorities to provide replacement housing units for, or relocation housing for occupants of, housing projects which are demolished, cleared, sold or otherwise disposed of pursuant to the provisions of this chapter. Such contract shall contain a provision that such annual contributions shall be used for the payment of interest on, and the principal of, mortgages held by the MHFA. The annual contributions for any one MHFA project shall be payable in an amount not exceeding six per cent of the cost of that portion of the project leased by such housing authority, as determined by the department, and for the fixed period during which said mortgage for such MHFA project remains outstanding, but in no event for more than forty years after completion of the MHFA project, as determined by the department; provided, however, that the total amount of such annual contributions contracted for by the commonwealth for any one year shall not exceed one hundred and ninety thousand dollars. Each such annual contribution by the commonwealth to the housing authorities shall be paid by the commonwealth to the housing authority for payment to the MHFA upon approval and certification by the state comptroller.
Each such contract shall provide:
(i) that whenever in any year the earned surplus accumulated by the mortgagor exceeds the amount permitted by section five of chapter seven hundred and eight of the acts of nineteen hundred and sixty-six, as determined by MHFA, an amount equal to that portion of such excess allocable to the units leased by such housing authorities shall be applied or set aside for application to purposes which shall effect a reduction in the amount of subsequent annual contributions, and
(ii) for enforcement by the department of such contract in the manner set forth in clause (e) of section thirty-four, and
(iii) that such annual contributions may be terminated by the department if the mortgagor in the judgment of MHFA ceases to operate the project in accordance with the requirements of chapter seven hundred and eight of the acts of nineteen hundred and sixty-six.
The full faith and credit of the commonwealth is hereby pledged to the payment of all annual contributions contracted for by the commonwealth. The provisions of section thirty-four shall not apply to such contracts for financial assistance, but each such contract shall contain such limitations as to the development cost of such MHFA projects and such administration and maintenance costs as the department may require. The amount of annual contributions contracted for by the commonwealth pursuant to this section shall reduce, pro tanto, the maximum amount of annual contributions authorized under the third and fourth paragraphs of clause (b) of section thirty-four.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 121b - Housing and Urban Renewal
Section 3 - Housing Authorities; Creation; Dissolution
Section 3a - Regional Housing Authorities; Creation; Dissolution
Section 4 - Redevelopment Authorities; Creation; Dissolution
Section 5 - Housing and Redevelopment Authorities; Membership; Appointment; Election; Term of Office
Section 5a - Waiver of Requirement to Appoint Tenant Member to Housing Authority Board
Section 7a - Guidelines for Contracts to Be Executed by Housing Authority and Executive Director
Section 8 - Operating Agencies; Housing Authorities
Section 9 - Urban Renewal Agencies
Section 10 - Operating Agencies; Designation of Authorities
Section 11 - Powers of Operating Agencies
Section 12 - Operating Agencies; Wages; Labor Requirements; Social Security
Section 14 - Operating Agencies; Federal Loans; Conveyance Upon Default
Section 15 - Operating Agencies; Bonds, Notes, Certificates; Negotiable Instruments
Section 17 - Liability of Commonwealth or Political Subdivisions for Debts of Housing Authority
Section 18 - Preparation of Master Plans, Etc. by City or Town; Appropriation and Payment
Section 21 - Indebtedness Limitation
Section 24 - Agreement to Bear Acquisition Loss
Section 25 - Housing Programs; Statement of Emergency
Section 26 - Powers of a Housing Authority
Section 26b - Performance-Based Monitoring Program; Assessment Standards
Section 27 - Rural Housing Authority; Additional Powers
Section 28a - Annual Plan; Availability to Public for Review and Comment
Section 30 - Contract With Federal Government; Acquiring Federally Owned Project
Section 32a - Parking Areas; Rules and Regulations; Towing
Section 32d - Actions by Tenants or Tenants' Organizations
Section 32e - Jurisdiction Over Civil Actions; Appellate Review
Section 33 - Equivalent Elimination of Substandard Dwelling Units
Section 34 - State and Federal Financial Assistance; General Provisions
Section 35 - Contracts for Supplementary State Financial Assistance
Section 36 - Receipt of Loans and Grants From Federal Sources or From Other Sources
Section 38 - Housing for the Elderly and the Handicapped; Declaration of Policy
Section 38a - Bureau of Housing for the Handicapped; Director; Functions
Section 38b - Housing for the Elderly and the Handicapped; Service Coordinator Program
Section 38c - Program to Conduct Annual Surveys of Public Housing Residents
Section 40 - Provisions Applicable to Housing for Elderly and Handicapped Persons of Low Income
Section 41 - State Financial Assistance; Housing for Elderly Persons of Low Income
Section 41a - State Financial Assistance; Housing for Handicapped Persons of Low Income
Section 42 - Rental Assistance Program; Declaration of Necessity
Section 43a - Rental Assistance Program; Relocation of Residents; Leased Housing Units
Section 44 - Rental Assistance Program; Rentals and Tenant Selection
Section 45 - Urban Renewal Programs Declaration of Necessity
Section 46 - Powers of Urban Renewal Agency
Section 47 - Urban Renewal Programs; Acquisition by Eminent Domain; Notice; Petition
Section 48 - Public Hearing; Notice; Urban Renewal Plans; Approval; Acquisition of Property
Section 49 - Sale or Lease of Property Acquired for Urban Renewal Project
Section 50 - Delegation of Power to Municipality to Plan and Undertake Urban Renewal Project
Section 51 - Redevelopment Authority Taking Over Project Initiated by Housing Authority
Section 52 - Accounts and Reports of Urban Renewal Agencies; Civil Service Rules
Section 55 - State Aid for Urban Renewal; Certification and Payment of Grants
Section 56 - State Aid for Urban Renewal; Contract to Provide Financial Assistance
Section 57 - State Aid for Urban Renewal; Advance of Funds; Amount; Payments
Section 58 - Other Urban Renewal Programs; Declaration of Necessity
Section 59 - Contracts for State Financial Assistance; Rehabilitation Projects
Section 60 - Housing Preservation and Stabilization Trust Fund