The development team said the marketplace is meant to provide an accelerator space for small businesses, especially those owned by women and people of color. Ideally, vendors will use the space as a launching pad before venturing into bigger spaces.
Though the city’s legislative package differs slightly from the county’s proposal, they share a similar goal: that housing developments exceeding a certain size or value, or already receiving large public subsidies, should allocate at least a portion of the units for people at income levels below the Baltimore-area median.
One bill would require all new developments exceeding a certain size and value to reserve a portion of units for people earning below the Baltimore-area median income. Another would allow developers to apply for a property tax credit.
The Annapolis Housing Authority has received a “troubled” grade for fiscal year 2022 on the U.S. Department of Housing and Urban Development’s Public Housing Assessment. The total score required for the standard designation is 70; HACA scored 43.
The county proposal would require new development projects that exceed a certain size to reserve a portion of their units for people earning below the Baltimore-area median income. It would also allow developers creating smaller-scale projects to pay a fee in lieu of the moderately priced unit requirement.
Maryland Department of Housing and Community Development Secretary Jacob R. Day said state lawmakers would likely not prescribe rent stabilization as a solution for Marylanders — at least not this upcoming session.