Opposition to Workforce Housing Proposal

The workforce housing proposal that was presented to the Mayor and Board of Aldermen at the April 2nd Workshop consisted of two new incentives to encourage certain people to purchase homes within Frederick city limits. The principal components, as explained at the workshop are: (1) A $20,000 interest-free loan that would be repaid to the City upon the resale or refinance of the home (which might be over 30 years later); and (2) a $7,500 grant to be applied towards closing costs, contingent upon purchaser’s living in the home for five years. It was pointed out at the workshop that these two incentives are in addition to an existing State grant program for first-time homeowners of an additional $7,500 to be applied towards closing costs and/or the down payment (also contingent upon purchaser’s living in the home for five years).

I object to the program, as presented, because in my opinion the benefits that the City would derive from this give-away program are minimal in comparison to the substantial sums of taxpayer dollars that would be given away.

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