Affordable housing advocates were cheered Thursday when Governor Charlie Baker signed a bill authorizing $1.8 billion in new housing funds over the next five years.
The measure will renew and expand funding for a variety of housing programs, including money to redevelop public housing and tax credits that boost new low-income housing development and historic preservation. The Baker administration had warned that funds for some of these programs — established through a $1.4 billion bond bill passed in 2013 — could soon run out.
The measure, which will be paid for through state bonds, easily passed the House and Senate earlier this year, and a final vote was taken in both houses last week. Housing advocates say the money will finance thousands of new units of affordable housing in Massachusetts.