City of Baltimore - File #: 13-0112R

• File #: 13-0112R
• Version: 0
• Name: Request for State Action - Preserving Baltimore’s Access to Low Income Housing Tax Credits
• Type: City Council Resolution
• Status: Adopted
• File created: 6/3/2013
• In control: City Council
• Final action: 6/3/2013
• Title: Request for State Action - Preserving Baltimore’s Access to Low Income Housing Tax Credits FOR the purpose of urging Governor Martin O’Malley to direct Secretary of Housing Raymond Skinner to make changes to the draft of the Multifamily Rental Financing Program Guide to preserve current elements of the housing tax credit program that make low income housing projects in Baltimore City viable.
• Sponsors: President Young, Bill Henry, Mary Pat Clarke, James B. Kraft, Sharon Green Middleton, Nick Mosby, Brandon M. Scott, Carl Stokes, Warren Branch, Helen L. Holton, William "Pete" Welch, Rochelle Spector, Edward Reisinger
• Indexes: Resolution

Date	Ver.	Action By	Action	Result
6/3/2013	0	City Council	Advanced to 2nd Reader on same day
6/3/2013	0	City Council	Introduced
6/3/2013	0	City Council	Adopted

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: President Young, Councilmembers Henry and Clarke



A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
title
Request for State Action - Preserving Baltimore’s Access to Low Income Housing Tax Credits

FOR the purpose of urging Governor Martin O’Malley to direct Secretary of Housing Raymond Skinner to make changes to the draft of the Multifamily Rental Financing Program Guide to preserve current elements of the housing tax credit program that make low income housing projects in Baltimore City viable.
body

WHEREAS, since the inception of the mandate under federal law (26 USC Section 42 (m)(1)(B)((i)(lll)) that requires all states to provide a preference for projects in low income areas known as Qualified Census Tracts (QCTs) in their Qualified Allocation Plan for the low income housing tax credit program, the Multifamily Rental Financing Program Guide (the “Guide”) has complied with this requirement by having a specifically defined point preference for such projects.

WHEREAS, both the requirement to implement federal law and numerous strong policy reasons (such as combating the effective redlining of these neighborhoods by the private market, the fact that targeting affordable housing in low income neighborhoods can significantly contribute to revitalization of those communities, and the fact that the tax credit program is virtually the only significant capital available to fund such housing) sup...