The Baltimore City Council on Tuesday evening voted to advance a bill aimed at providing inclusive housing to the city's low-income residents.
The bill, first introduced in February 2022, was approved on a vote of 9-1. Councilwoman Danielle McCray was the only opposition due to the limited time given to review the legislation. Five council members were absent from Tuesday's vote.
If passed, the city's inclusionary housing bill would require residential buildings with 20 or more more units subsidized units to make 10% of their rental units affordable to residents earning 60% or less of the area's median income. That is roughly $48,762 for individuals and $69,660 for a four-person household.
The bill also requires developers who receive greater subsidies from the city to set aside an additional 5% of rental units for families earning 50% or below of Baltimore's median income.
The city's inclusionary housing legislation will be applied citywide. The local government will also be required to create a 9-member board tasked with overseeing inclusionary housing. No developers are allowed to waive the requirement.
"We want to make sure that you know that we did take input from the development community, the administration, advocates, ... I do think this has been a true team effort," Councilwoman Odette Ramos, District 14 representative and the main sponsor of the legislative package, said, as quoted by The Baltimore Sun. "We took the time to get this right because we need to."
Tax Credit for Developers
Apart from the inclusive housing bill, the Baltimore City Council also voted to advance a second legislation that would allow developers and property owners to apply for a 30-year tax credit to compensate for the cost of the affordable housing units. That legislation advanced on a vote of 8-0. Seven council members were absent from the vote.
Tuesday's vote on the inclusive housing bill comes 16 years after the city council last voted on a different inclusionary housing policy. The 2007 legislation required developers building 30 or more units to set aside 20% for affordable housing. However, that bull only produced 34 units, as many developers were able to get a waiver.
Tuesday's inclusive housing bill will now move on to the full council for consideration and vote.
A removalist is seen loading a van at an apartment block in the suburb of Zetland on November 15, 2023 in Sydney, Australia. The Reserve Bank of Australia raised its key benchmark rate last week, as inflation continues to hobble a strong economic recovery. The higher rates, in addition to low housing stock, had led many into a situation of housing stress in both the rental and owner-occupier markets.