Motivated by soaring rental and home prices in the region, Howard County Executive Calvin Ball on Wednesday unveiled a collection of housing proposals designed to ease the cost burden on county residents.
Nicknamed the HOME Package, the policy bundle includes local legislation designed to curb Howard County rent prices; a bill that would help grow the area’s stock of moderately priced housing units by allowing the Howard County Housing Commission to partner with organizations to convert existing rental units to affordable units; and a state-level proposal that would enable the county to offer tax credits to property owners to incentivize new affordable units.
Ball said the county also plans to invest $2 million for security deposit assistance and rent relief for Howard County Public School students and families, and Howard Community College students, experiencing housing insecurity; $100,000 for people with disabilities to use for rental unit modifications; and $3 million for affordable housing creation, including $1.6 million for the Patuxent Commons affordable housing project, of which 25% of the units will be designated as moderately priced. Those funds would be pulled from a combination of sources, including the county’s Community Renewal Fund and its Housing Opportunities Trust Fund.
Ball referred to the policies in a news conference Wednesday as “bold, innovative solutions tailored to address our housing challenges head-on.”
