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Committee advances demolition tax to fund housing production after split vote; staff and implementation questions remain
Summary
The Government Operations and Fiscal Policy Committee voted 2–1 to recommend advancing a proposed $20,000 demolition tax to help pay HOC bond contract payments and bolster the county Housing Production Fund, but members pressed staff on exemptions and who would administer the program.
The Government Operations and Fiscal Policy Committee voted 2–1 to recommend advancing a proposed demolition tax intended to support bonds issued by the Housing Opportunity Commission (HOC) and the county’s Housing Production Fund, but committee members pressed staff on exemptions, legal cross‑references and who would administer the program.
Council staff told the committee that the Department of Housing and Community Affairs and the Department of Finance had proposed clarifying language to ensure demolition‑tax revenues could be used for HOC bond contract payments and, if in excess, for the housing production fund or other Montgomery Housing Initiative purposes approved by council resolution with agreement of the…
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