CHICOPEE MULTIFAMILY INCENTIVE PROGRAM (FY 2020) TO RECEIVE ADDITIONAL FUNDING
FOR IMMEDIATE RELEASE
CHICOPEE – On Thursday, September 19, 2019, Mayor Richard J. Kos requested an appropriation of funds of $32,000.00 to the City's Multi-Family Incentive Program for Fiscal Year 2020. City Council unanimously approved the request.
“It is gratifying to see a program like this one succeed,” said Mayor Richard J. Kos. “I thank City Council their continued support in making Chicopee owner-occupied three-family real estate affordable and obtainable. Encouraging owner-occupied homeownership is an important effort as we work to improve and increase our available housing.”
This year, the Department of Planning & Development has successfully closed on two (2) three family properties, exhausting all available funds in the current fiscal year. The new funds will be used to close on two additional existing multifamily owner-occupied homes.
Chicopee’s Multi-Family Incentive Program helps:
- Preserve homes that could be lost from the affordable housing stock
- Renovate distressed properties
- Create affordable mixed-income housing communities
- Increase diverse neighborhoods
- Reduce crime through neighbor collaboration
- Contribute to overall neighborhood stabilization
This homeownership incentive program is focused on proliferating owner-occupancy of multi-family housing in the City of Chicopee. The program is specific to the purchase and occupancy of legal three-family structures.
“I am happy to see continued support for this program as the city strives to increase owner-occupied three family structures throughout our neighborhoods,” stated Lee Pouliot, Director of the Department of Planning & Development.
To learn more about the City of Chicopee Multifamily Incentive Program visit: https://www.chicopeema.gov/656/Multifamily-Incentive-Program