Maryland Gov. Wes Moore and state lawmakers aim to tackle affordable housing issues during the General Assembly's 90-day session that started Wednesday.
The Tax Relief for American Families and Workers Act of 2024 could lead to the production of 200,000 new affordable units over the next two years.
On Thursday night, the state Senate passed its $5.4B housing bond bill that includes several funding and tax incentives aimed to produce more housing.
The caucus, formed by two Democrats and two Republicans, has received support from real estate associations.
Both companies received money from the state to help boost the supply of homes.
The development site is next to the Christian Tabernacle Church, on church-owned land.
The homes could be ready by 2027, and half will be reserved for hotel employees.
Mayor Eric Adams’ massive proposal will now go to the City Council, where members will have two months to review and approve the plan.
Congress would likely have to be along for the ride on any major or key interventions to fix the issue.
Finding new ways to fund moderate-income housing is challenging, but some states offer an alternative.
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