Saving a Precious Resource Maryland’s BRAC Preservation Initiative
By Caitlin Jones
2 min read
Tax Credit Advisor, October 2011:
By Anthony G. Brown, Lieutenant Governor, State of Maryland
With increasingly scarce resources, looming budget cuts, and growing demand, the task of preserving affordable rental housing continues to be a complex challenge, but critical to meet our country’s needs. For every new affordable apartment created, two are lost due to deterioration, abandonment or conversion to more expensive housing. A comprehensive preservation approach with an in-depth understanding of local jurisdictions’ needs must be part of states’ affordable housing plans in order to be successful.
Governor O’Malley and I understand that the foundation of strong communities are families who are secure in their homes, which is why we have made a strong commitment to rental housing preservation. With funding provided by The John D. and Catherine T. MacArthur Foundation, this commitment was further strengthened so that a proactive strategy to identify and act on opportunities could be implemented. The MacArthur Foundation’s support for Maryland’s BRAC Preservation Initiative is part of the Foundation’s Window of Opportunity campaign, a $150 million, 10-year effort to preserve affordable rental homes across the nation. Maryland is one of only 12 states and cities awarded funding under Window of Opportunity.
