Archives: Resrc
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Moderately Priced Dwelling Unit (MPDU)
To ensure that housing choices continue to be available to city residents and employees with moderate incomes, the City Council passed the Moderately Priced Dwelling Unit Law in 2004. This law requires that 15% of the houses for sale or rent in new subdivisions of 10 or more units be moderately priced dwelling units (MPDUs).…
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Primer on the Basics of Affordable Housing
A lot of written and spoken words have been devoted to the lack of affordable housing in Frederick County. This periodic column has discussed at length how we got into this mess and the possible long-term fixes for getting out of it. But what exactly is meant by the terms “affordable housing,” “moderately priced dwelling…
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Low Income Housing Tax Credit (LIHTC)
The Low-Income Housing Tax Credit (LIHTC) program is the most important resource for creating affordable housing in the United States today. Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of approximately $10 billion in annual budget authority to issue tax credits for the acquisition,…
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Area Median Income (AMI)
The housing industry and their regulators use “area median income” (AMI) as the statistic for which the concept of affordability is based. The 2022 area median income for Frederick County is around $116,000 per household or about $51,000 for an individual. AMI is based on the most recent U.S. Census Bureau information available.
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David Trone Legislative Funding
Funding for legislative priorities
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Lawmakers prioritize housing as US rents, eviction rates soar
A record number of Americans can’t pay rent. To prevent evictions, state lawmakers are addressing the issue from a wide variety of angles.