Montgomery County Executive Marc Elrich Proposes Record Level of Funding for Affordable Housing And Highlights Accomplishments in First State of the County Address

For Immediate Release: Wednesday, January 15, 2020

Montgomery County Executive Marc Elrich today delivered his first ‘State of the County’ address, telling a packed crowd at the Silver Spring Civic Building that despite challenges the County is facing, much has been accomplished in his first year in office and a clear direction has been established to move forward. He also unveiled his proposal to remedy the County’s lack of affordable housing with a record spending initiative.

“As I look back on what we accomplished last year, and the challenges we faced, I was reminded of how special this County is,” said County Executive Elrich. “While we can identify ways we want to improve, it is important to remember that Montgomery County is still the County others hold up as a model of success—not just here in Maryland, but around the country.”

In his address, County Executive Elrich said that his administration will continue to build on the seven priorities he established upon taking office in December 2018:

• Thriving Youth and Families
• A Growing Economy
• A Greener County
• Easier Commutes
• A More Affordable and Welcoming County for a lifetime
• Safe Neighborhoods, and
• An Effective, Sustainable Government

In talking about the County’s affordable housing needs, County Executive Elrich said, “Affordable housing is one of my top priorities. It is vital to our County’s future success. We must maintain and expand our stock of affordable housing and we are taking this critical issue head on in the capital budget. That is why I am recommending we add $132 million for affordable housing to the capital budget over the next six years.

“This is a record level of funding for affordable housing projects for our capital budget. These funds will be used by the Affordable Housing Acquisition and Preservation Project to facilitate efforts to preserve existing stock and increase the number of affordable housing units in the County. But that is not all.

“In this Capital budget, I am proposing a new Affordable Housing Opportunity Fund to leverage funding from other partners that will support short-term financing while affordable housing developers arrange for permanent project financing.”

County Executive Elrich stressed that the County must continue to work to improve in areas and must not be satisfied in areas in which it has been successful.

“We cannot afford to be complacent,” he said. “We have to move forward to build a better future where all are included and everyone is seated at the table as equals. Those goals needed to play a central role in forming what we do.”

The video of his address can be viewed at https://youtu.be/7qAWFKaarHU.

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Release ID: 20-017
Media Contact: Barry Hudson 240-777-6528