Establishes a Historic District Stabilization Committee to address foreclosure crises in Massachusetts historic districts.

The bill creates a Historic District Stabilization Committee to manage and mitigate the effects of foreclosure crises in historic districts in Massachusetts. The committee, composed of residents, homeowners, real estate brokers, community organizations, and local banking professionals, can acquire properties by eminent domain, manage occupied and vacant properties, and restore damaged houses. It aims to stabilize real estate values and improve livability within these districts. The committee can also hire staff, issue bonds, and use local residents for restoration and marketing services.

Establishes a Historic District Stabilization Committee to address foreclosure crises in Massachusetts historic districts.

The bill creates a Historic District Stabilization Committee to manage and mitigate the effects of foreclosure crises in historic districts in Massachusetts. The committee, composed of residents, homeowners, real estate brokers, community organizations, and local banking professionals, can acquire properties by eminent domain, manage occupied and vacant properties, and restore damaged houses. It aims to stabilize real estate values and improve livability within these districts. The committee can also hire staff, issue bonds, and use local residents for restoration and marketing services.