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The Baltimore Banner: “Three Things to Watch as Baltimore Considers Affordable Housing Requirements”

The Baltimore Banner: “Three Things to Watch as Baltimore Considers Affordable Housing Requirements”

The Baltimore City Council is considering changing its mandatory affordable housing ordinance. Under the new proposal, developers would be required to reserve a larger share of new units for low-income residents at below-market-rate rents. It would also apply these new affordability mandates to qualifying projects citywide. Developers oppose the new proposal, but so does the city’s Department of Finance. In a memo, the Department warned that the current proposal could discourage new development, jeopardizing future tax revenue, adding “too much risk to the City’s already precarious financial position.” – The Baltimore Banner

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