Montgomery County Executive Marc Elrich is vetoing a bill to give developers tax breaks if they convert vacant commercial buildings into housing.
The bill would exempt certain developers from paying property taxes for 20 years.
“I am going to veto this, and I’m asking the council to take the time to consider the unintended consequences and to narrow the scope of the bill or kill it altogether,” Elrich said. “If this is gonna get us a decent amount of affordable housing like the projects we already work with, that’s one thing. If this is just another giveaway for market rate housing, this is not something we should be doing.”
He said there were no studies conducted to see if subsides are actually needed. He also said the bill was pushed through too quickly with little time for public comment.
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