Prince George’s County Announces New $15 Million ROFR Preservation Fund

The Right of First Refusal (ROFR) was relaunched in December 2020 by Prince George’s County Executive, Angela Alsobrooks. At that time it was exercised on (2) multi-family properties in the County. The ROFR applies to multi-family rental communities with 20+ units. If they make the decision to sell the property, the County has the authority to purchase the property or assign its rights to a third-party developer. The purpose is to stabilize, preserve and expand housing opportunities for low and moderate income households and increase the availability of quality affordable rental housing in designated areas of the County.

Today, the County Executive Alsobrooks announced the launch of the Right of First Refusal Preservation Fund. The fund involves a $15 million, 3-year commitment from the American Rescue Plan Act.

Prince George’s County is committed to preserving housing affordability and we are working hard to diversify the County’s housing stock. We cannot have quality economic development without affordable housing.  Our key economic development goals for growing jobs and the commercial tax base must be anchored by infrastructure that serves a range of household incomes, especially around transit-oriented development opportunities. Our community is growing, and it is up to us to make the right choices now. This year, our administration has exercised our Right of First Refusal (ROFR) program for the first time. The ROFR Preservation Fund is helping us to preserve, protect and expand quality, safe homes that residents of all incomes can afford.
-County Executive Angela Alsobrooks
The County will use this fund to support the preservation of existing naturally occurring affordable housing in the County, strengthen the implementation of the existing ROFR program and assist in preserving the affordability in properties located in Qualified Census Tracts. Properties to be impacted are in transit-oriented areas as well as targeted areas of economic development growth.  The fund will help to ensure that low and moderate County renters can maintain residency as the County grows and prospers.
In addition to the ROFR Fund, the County Executive also announced a $1 million investment into the Home Ownership Preservation Program (HOPP).
  • $30,000 to homeowners for health, safety, energy efficiency and accessibility repairs in qualified, owner-occupied homes
  • up to $50,000 in services for households under 50% of the area median income (AMI)
  • preservation services may include the following:  roofing and gutters, electrical repair, plumbing repair, tree removal, stairlift and accessibility equipment, HVAC replacement and repair, water heater replacement/repair and more

There are income, location, and eligibility requirements.

DHCD has partnered with Habitat for Humanity of Metro Maryland to implement this program in the County’s qualified census tract areas with special emphasis on homes within one mile of a future Purple Line transit stop.

For additional information on the ROFR Preservation Fund or HOPP,  e-mail Pam Wilson, Housing Development Program Manager, Housing Development Division, Prince George’s County Department of Housing & Community Development:  pawilson@co.pg.md.us

 

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