Baltimore Looks To Increase Affordable Housing
Many of the city's older residents have voiced concerns about housing developers trying to buy up their land and replace their neighborhoods with newer condos and apartment developments. Residents are hoping the establishment of a comprehensive plan for developing affordable housing will protect the city's existing housing stock, while also providing housing opportunities for the city's lower-income residents.
"The Citizens Planning and Housing Association and its task force outlined their main recommendations: establishing an inclusionary housing trust fund using 20 percent of the proceeds from city transfer taxes and recordation fees; ensuring that at least 20 percent of a new development is affordable where there is a public subsidy or significant rezoning involved; and preserving existing high-quality affordable rental properties."
"The task force findings will serve as a framework for legislation being crafted by the council and other city officials."