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[Pages 651-682]
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Introduction
I.  Working Toward a Solution to the Affordable Housing Crisis: Passing Chapter 40B
    A.  The Historical Problems 40B Attempted to Address
    B.  Passing the Comprehensive Permit Law
II.  Chapter 40B, The Comprehensive Permit Law
    A.  Application for a Comprehensive Permit Under Chapter 40B
    B.  Appeal to the Housing Appeals Committee
III.  The Implementation of 40B
IV.  Market Driven Subsidy Programs
    A.  The Subsidy Requirement Under 40B
        1.  Definition
        2.  The Shift From Command–and–control Programs to Market–Based Incentives
        3.  The Purpose of the Subsidy Requirement
    B.  The Local Initiative Program
        1.  Local Initiative Units
        2.  Comprehensive Permit Projects
        3.  LIP Units Increase Both Subsidized Housing Inventories and Local Control
    C.  The New England Fund
        1.  How the New England Fund Works
        2.  The NEF Is a Low or Moderate Income Housing Subsidy Program for Purposes of a 40B Comprehensive Permit
              a.  A NEF Loan is a Subsidy
              b.  The NEF is a “Low or Moderate Income Housing Program”
              c.  Long Term Project Monitoring to Protect Towns’ Interests
V.  Developers Should Be Allowed to Build Affordable Housing Projects Under 40B Without a Government Subsidy
    A.  Government Housing Financing Has Shifted from Command–and–control Programs to Market–Based Incentive Programs
    B.  Developers Should Be Able Internally to Subsidize Their Projects and Still Take Advantage of the Comprehensive Permit Law
    C.  Towns’ Concerns Should Be Mitigated by Government Agency Oversight and More Active Local Involvement in Developing Affordable Housing
Conclusion