Massachusetts Executive Office of Housing and Livable Communities
Massachusetts

Capital Improvement and Preservation Fund (CIPF) is a state funded program that provides funds for the preservation of expiring use properties or for properties with expiring project-based rental assistance contracts. It is a state bond funded program that seeks to preserve and improve existing privately owned, state or federally assisted affordable rental developments. Eligible properties include housing at risk of losing affordability restrictions due to the potential for the prepayment of its mortgage or housing in which a project-based rental assistance contract has expired.

Funding Source
Dedicated funding stream - Interest on government accounts; Dedicated funding stream - Other
Program Status
Active
Website
https://www.mass.gov/info-details/capital-improvement-and-preservation-fund-cipf
Contact
617-573-1100
How Provided?
Development loans
Data Collected by Program
Income; Race; Ethnicity; Age
Program Type
Capital resources
Income Eligibility Threshold
Other income eligibility criteria
Duration
Affordability period is 40 years
Info Source
NLIHC internet research
Last Updated
8/18/23 14:59
Income Eligibility Threshold Detail

At least 50% of units for households at or below 80% AMI and at least 5% of units for households at or below 50% AMI