BALTIMORE — Baltimore City Council passed the High-Performance Inclusionary Tax Credit Billon Thursday.
The bill is designed to help housing developments offset the costs of inclusionary units by offering a credit to make up the difference between the market-rate rent and the rent collected from the inclusionary units.
This legislation comes three days after the passing of the Inclusionary Housing Bill for Baltimore City.
That bill requires any development with 20 or more units and receiving a major public subsidy to reserve 10-15% of housing units for lower-income residents.
READ MORE: Baltimore inclusionary housing bill passes unanimously
The legislation was sponsored by Councilmember Odette Ramos. "What this does is actually make sure that we are insistent, strategic, and intentional about starting to erase the effect of the racist housing policies that we have today,” said Ramos.
In order to get the credit, developers would have to apply for it each year, according to the bill.
“It is a bill that will help both low- and moderate-income individuals. It will help working-class people like you and me," said coalition leader and Maryland Inclusive Housing Director of Housing Char McCready. "It will assist individuals with disabilities who have vouchers and increase access to families with individuals with developmental disabilities."
