Per MCPD: Governor Wes Moore today announced $6.3 million to support projects to support the construction of more than 200 affordable rental housing units, approved during the most recent Board of Public Works meeting. The Maryland Department of Housing and Community Development will provide $3.5 million through the Rental Housing Works Program and $2.8 million from the Partnership Rental Housing Program to support two affordable housing projects in Silver Spring.
The department’s Rental Housing Works and Partnership Housing Rental programs provide financing for projects that create or preserve affordable rental housing units. The Rental Housing Works program finances rental housing that will be occupied by individuals with incomes at 60% of area median income. The Partnership Rental Housing Program finances rental housing that will be occupied by individuals with income of 50% below State-wide area median income. Through other programs, the department’s total investment in the two projects is more than $73 million.