26-0059R: Informational Hearing – Affordable Housing Trust Fund FOR the purpose of requiring the Baltimore City Department of Housing and Community Development, the Affordable Housing Trust Fund Commission, and inviting relevant stakeholders to appear before the City Council and to provide annual reports on the accomplishments of the Affordable Housing Trust Fund, including units produced and residents helped, the income level of residents served, the required items to be reported upon that are specified in both the Charter amendment that established the Fund and in the ordinance that created the funding source, and any additional information the Council may request.

Description

Informational Hearing – Affordable Housing Trust Fund FOR the purpose of requiring the Baltimore City Department of Housing and Community Development, the Affordable Housing Trust Fund Commission, and inviting relevant stakeholders to appear before the City Council and to provide annual reports on the accomplishments of the Affordable Housing Trust Fund, including units produced and residents helped, the income level of residents served, the required items to be reported upon that are specified in both the Charter amendment that established the Fund and in the ordinance that created the funding source, and any additional information the Council may request.

Summary

Baltimore City Council Resolution 26-0059R calls for an informational hearing on the Affordable Housing Trust Fund and ongoing annual reporting. The Department of Housing and Community Development, the Fund’s Commission, and relevant stakeholders would report on housing units created, residents assisted, household income levels, spending, outcomes, and other information required by the City Charter, funding ordinance, or requested by the Council. Established by a 2016 ballot measure, the Fund receives a fluctuating transfer and recordation tax on transactions above $1 million, plus approximately $6.5–$7 million annually from the capital budget. At least 50% must serve households earning no more than 30% of area median income, with the remainder serving those earning up to 50%. The resolution responds to the lack of a formal hearing since 2021 and publicly posted annual reports since 2022, aiming to improve oversight and access to information.