An affordable-housing plan
As promised, I have a story today about state Department of Housing and Community Development announcing that it will put $75 million toward preserving subsidized rental housing -- renovating old units and keeping them from going market-rate. (It won't be buying, but rather offering financing to businesses.)
Many subsidized rentals in Maryland are 15 to 20 years old. Not only do they need work, they're at or near the point that their owners can opt out of the subsidy and switch to higher, market-rate rents. ..."This is really a proactive move to make sure we don't lose what we do have," said Bill Ariano, deputy director of the housing department's Community Development Administration. He said it is the state's first large-scale preservation effort "because this is the first time we've really seen this kind of potential problem looming."
Sign up for the At Home newsletter 
