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Committee hears bill to create limited-equity housing cooperatives in Maryland
Summary
Lawmakers and advocates told the House Environment and Transportation Committee that HB1052 would create a workable statutory path for limited-equity housing cooperatives so tenant purchasers can keep homes permanently affordable; sponsors said technical changes are coming after consultations with SDAT and other state agencies.
Delegate Lorig Chircutian asked the Environment and Transportation Committee for a favorable report on HB 10 52, legislation to allow the establishment of limited-equity housing cooperatives in Maryland.
“it will allow for the creation of limited equity housing cooperatives in the state,” Chircutian said, framing the bill as another tool for long-term affordable homeownership. She told the committee the model is already used in the District of Columbia and that Takoma Park tenants who purchased their building using a local…
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