BALTIMORE (WJZ) — Mayor Brandon M. Scott and the Baltimore City Department of Housing and Community Development announced Friday a second Notice of Funding Availability for Community Land Trusts.
Up to $4 million will be available for CLT through the city’s Affordable Housing Trust Fund.READ MORE: Maryland Weather: Flash Flood Watch Issued For Central Maryland
The projects that are connected to this must support the city’s community development goals. These goals include meeting the demand for affordable housing and integrating land-trust homes as part of a broader mixed-income housing strategy.
“The Community Land Trusts movement represents both a tangible and scalable strategy to help us build community power,” said Mayor Scott. “This work will have an added impact on community development, land use, and affordable housing and can be transformative for our city. I’m pleased that we are increasing our investment in this work by almost doubling available funds with this NOFA.”
The city is seeking to promote equitable and sustainable community development by directing funds to communities that have faced historical disinvestment.READ MORE: States Learning How Many Afghan Evacuees Coming Their Way, Maryland Among Top Hosts
In March, the city made an initial $2.25 million investment in CLT. This method is used to create homeownership opportunities for households that earn 50 percent or less of the Area Median Income.
CLTs are valuable tools that help with closing the wealth and equity gap in cities with significant racial disparities.
Visit DHCD’s website for more information and instructions on how to apply.MORE NEWS: Price Rite Holding On-The-Spot Interviews At All MD Locations September 22
Learn more about Baltimore City’s Affordable Housing Trust Fund here.