The Maryland General Assembly created the Maryland Affordable Housing Trust in 1992 to make affordable housing more available throughout the State of Maryland. The Trust is governed by a Board of Trustees and staffed by the Maryland Department of Housing and Community Development. A portion of the interest generated by title company escrow provides the funding for the Maryland Affordable Housing Trust.
Notice of Public Meeting
The law and regulations governing of the Maryland Affordable Housing Trust are found in:
The Maryland Affordable Housing Trust promotes affordable housing for households earning less than 50% of area or Statewide median income by:
The Maryland Affordable Housing Trust does not provide:
The maximum award amount is $75,000.
Although the Maryland Affordable Housing Trust reserves the right to make its funding available as interest-bearing loans, funding for project-specific capacity building, operating expenses and support services are generally made as grants. Funding for capital costs are offered as deferred-payment loans or recoverable grants payable if the project is sold and/or ceases to be used for low-income occupancy. Pre-development awards are generally repayable.
While all activities funded by the Maryland Affordable Housing Trust generally serve residents with incomes of less than 50% of statewide or area median, whichever is higher, preference is given to projects that serve households with incomes of less than 30% of median.
Projects that meet the following criteria will be most competitive:
CONTACT: Maryland Affordable Housing Trust
Toll Free Phone Number: 844-368-6948