Voters in Baltimore City will see a ballot measure for an Affordable Housing Trust Fund in November. The proposal, which sets up a trust fund for low and extremely low income households, received enough signatures to be on the ballot.
As reported in The Baltimore Sun:
The Affordable Housing Trust Fund would support the preservation and production of inexpensive housing by providing loans or grants for the planning, production, maintenance and expansion of such housing for low-income renters and homeowners,according to Housing for All Baltimore, the group campaigning for the amendment.
Money from the trust would help create community land trusts that would develop, own or operate permanently affordable rental housing, the group’s website says. It would also be used for services guiding low-income residents “to build a path to homeownership.”
The proposed charter amendment does not suggest a source of funding. It would be open to public and private financing, and it would be structured to allow the City Council and the mayor to designate funds for it, according to Odette Ramos, executive director of the Community Development Network of Maryland.
For more information visit The Baltimore Sun.