Legislation critical to keeping desperately needed new housing developments moving forward was the subject of a public hearing before the Joint Committee on State Administration and Regulatory Oversight on June 1. Senate Bill No. 2065 was filed by Sen. Adam Hinds (D-Pittsfield) and is strongly supported by the HBRAMA. It bill would extend the term of certain permits and approvals concerning the use of real estate that were in existence from the period March 10, 2020 to March 10, 2021, for two (2) years in addition to the lawful term of such a permit or approval.
While the coronavirus pandemic did result in an uptick in home remodeling projects by existing homeowners, needed new housing developments were stalled or not begun because of an inability to obtain financing, buyers’ COVID fears of shopping for a new home, high unemployment or anxiety of losing a job, and general market conditions brought on by the national recession.
This legislation is nearly identical to the Permit Extension Act of 2010 that was enacted during the Great Recession. Its purpose is to ensure that residential, commercial and other real estate developments that have received state or local approval during the pandemic can be completed.
A copy of the association’s letter in support of S. 2065 can be found here.
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