Task force reviews funding tools — housing trust funds, land banks and inclusionary zoning — to finance permanent affordability
Loading...
Summary
The Prince George's County task force reviewed multiple funding strategies for a community housing trust, including redirecting public funding, municipal trust funds, inclusionary zoning set-asides, and using a newly authorized county land bank to supply land for permanently affordable homes.
Brenda (Speaker 3) framed the funding discussion by saying that, beyond creating a trust, the county's most important role will be directing and capitalizing sources to achieve permanent affordability and to build nonprofit implementing capacity.
She reviewed examples from other jurisdictions. Burlington and Vermont were cited as jurisdictions that require or prioritize permanent affordability for public housing dollars; Brenda said Vermont's statewide trust and Burlington's program together created a substantial number of permanently affordable units over decades. The Lincoln Institute study and other examples in the notes were referenced to show how trust funds and set-asides for CLTs can be structured.
Brenda described common local tools: housing trust funds (locally controlled revenue set-asides or annual appropriations), inclusionary zoning policies or voluntary developer incentives (density bonuses, TIF support), and land-bank models that convey surplus public land to nonprofits for affordable housing. "Convert surplus lands into affordable housing" was highlighted as a low-tax-cost strategy that can create a subsidy by removing land cost from the development equation.
Task force members noted local context. Speaker 1 reminded attendees that Prince George's County passed land bank enabling legislation in the prior year; Reyna (Speaker 2) agreed to check whether the land bank is yet operational and to report back on funding requirements. Brenda recommended unifying disposition policies across departments so surplus residential properties can be steered toward permanently affordable uses and suggested the task force include specific land-bank and disposition recommendations in its report to the County Council.
Members discussed how these tools interact with other county initiatives (first-right-of-refusal legislation, zoning revisions and the county's inclusionary zoning study). Several members urged looking for administrative steps that can move faster than new legislation and for coordination across county departments.
Next steps identified in the meeting: staff will check the current status and funding needs for the county land bank, the task force will refine a set of recommended tools to prioritize in the final report, and Brenda will map which items need administrative action versus legislation. The chair and staff will circulate the revised recommendations in advance of the next meeting for review.
