$16.5M Going To HoCo Housing Opportunities Trust Fund, Rental Assistance, Programs

HOWARD COUNTY, MD — An historic investment in several housing initiatives has been unveiled in Howard County.

County Executive Calvin Ball announced a total investment of $16.5 million for the Housing Opportunities Trust Fund, homeownership and rehabilitation programs, and rental assistance.

"For so many families who want to call Howard County home, buying or renting here is out of reach. Making homeownership widely available is a critical component to building a strong and prosperous community, and we must do the diligent work to ensure it is accessible for all," Ball said.

"Our fiscal year 2024 proposed operating budget plan builds on these initiatives with historic investments to create wealth for families through the expansion of homeownership opportunities and improving our mixed-income housing availability. It is so critical that we continue our work to ensure accessible and affordable housing for all our residents," he added.

The Housing Opportunities Trust Fund, established last year, aims to promote equitable access to affordable housing for households of limited income in Howard County. Ball proposed $10 million in funding for the trust fund in his fiscal year 2024 budget - a 50 percent increase from last year’s budget.

"Our residents are feeling the impact of the housing crisis, from young people struggling to stay in Howard County to seniors unable to afford their home's maintenance,” said County Council Chair Christiana Rigby. “These investments in the Housing Opportunities Trust Fund and in our home rehabilitation and rental assistance programs will help ensure residents are able to overcome barriers to housing.”

Ball’s announcement was held at Roslyn Rise, a mixed-income redevelopment that will provide more than 100 affordable units across the income spectrum. Roslyn Rise will include a total of 152 mixed-income units ranging from one to four bedrooms.

“Vital housing developments like Roslyn Rise, which will provide modern homes to a full-spectrum of households, are only possible through partnership with the county,” said Christine Madigan, executive vice president and chief business officer of Enterprise Community Development.

The announcement also includes $6.5 million for homeownership and housing rehabilitation initiatives aimed at increasing access to homeownership for limited income homebuyers. This investment will help more families achieve homeownership and wealth-building opportunities through the Settlement Downpayment Loan Program and the Housing Assistance Program. In the last five years, nearly 400 families have accessed homeownership in Howard County because of these programs.

"We understand that the response to the Housing Opportunities Trust Fund's first notice of funding availability has well exceeded the initial fund seeding of $5 million in FY 2023," said Jackie Eng, coordinator of the Howard County Housing Affordability Coalition. "This response underscores the need for a more robustly financed fund. The proposed $10 million FY 2024 investment is a major step in expanding the capacity of the fund to meet the critical demand for affordable rental housing, homeownership and other supports to meet the housing demands of our county's low- and moderate-income families."

Additionally, Ball has proposed $1 million in funding to bolster rental assistance programs. Since the start of the pandemic, Howard County has distributed more than $25 million to process 3,800 applications for past due rent and utility payments, among other needs. This funding was essential to keeping limited income individuals and families in their homes during especially difficult times.