Speech and Testimony
County Executive Leggett’s Remarks at the Affordable Housing Conference
5701 Marinelli Road, Salon A – D, North Bethesda
As prepared
Good morning. At these annual Affordable Housing Conferences, and throughout the year, I and other Montgomery County leaders continually discuss how we can do more to improve access to affordable, inclusive housing options here in the County.
We are an affluent community, yet affordable housing remains a significant challenge for many of our residents.
Providing affordable housing opportunities for Montgomery County residents has been a priority of mine since I assumed office. My recommended budget provides more resources to our Montgomery Housing Initiative fund than ever before. Over the last eleven years, the County’s total investment in affordable housing has exceeded $900 million. This funding has enabled us to preserve and create nearly 60,000 affordable housing units.
Another benefit to the County has been the nearly $1 billion investment in housing development and rehabilitation leveraged with these funds during the recent period of economic uncertainty. The County has strong partners; and strong partners make a strong community.
Today, joined by Maryland’s Department of Housing & Community Development Secretary Ken Holt, as well as Council President Roger Berliner and Councilmember Marc Elrich, I announced our new Montgomery Homeownership Program. This program will help qualified applicants purchase a home here in the County.
One of the biggest challenges for homebuyers is saving for down-payment and closing costs. As Montgomery County has the highest housing costs in Maryland, it is particularly challenging to save enough funds to purchase a home here.
Yet, homeownership is considered by many to be the most affordable and predictable way for individuals and families to pay for housing.
So, we want to help expand access to homeownership as part of Montgomery County’s efforts to promote affordable housing.
In a partnership with the State, Montgomery County has committed one million dollars to the Montgomery Homeownership Program, which offers qualified homebuyers assistance with down-payment and closing costs to help them purchase their first home here in Montgomery County.
Permanent affordable housing opportunities benefit everyone, especially our seniors. I am committed to actively promoting policies to expand housing options for our senior residents.
As the County’s general population grows and evolves, there are additional challenges that must also be addressed. Our senior population is increasing, and along with that growth are increased demands on many County goods and services, including affordable housing, home health care, and senior transportation.
During my tenure, our Department of Housing and Community Affairs (DHCA) has participated in the development of thirteen senior housing projects, of which seven are complete, two are underway, and four are committed. Included in this is the Mt. Jezreel Affordable Senior Housing project that celebrated its groundbreaking just this past weekend.
In all, these projects will produce or preserve 1595 total senior rental units, including 1215 units affordable to seniors at or below 60 percent of the area median income (AMI). This is substantial progress, but there is still work to be done.
Please enjoy today’s conference and learn about the progress we have made as a community and a county as a whole. We have made progress and we will continue to innovate new and effective programs aimed at creating and preserving affordable housing in an inclusive community.
Thank you.
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Release ID: 17-044May 5; 9 a.m.