City of Hyattsville header
Share to Facebook Share to Twitter Bookmark and Share
File #: HCC-13-FY21    Version: Name:
Type: Consent Item Status: Passed
File created: 7/13/2020 In control: City Council
On agenda: 9/21/2020 Final action: 9/21/2020
Title: Hyattsville Ordinance 2020-05: Revisions to Chapter 108, Revitalization Tax Credit
Sponsors: Candace Hollingsworth
Indexes: Legislative, Ordinance, Planning & Development
Attachments: 1. Revitalization Tax Credit_2020-05, 2. Revitalization Tax Credit
Submitted by: Mayor Hollingsworth
Submitting Department: Community & Economic Development
Agenda Section: Consent

Item Title:
title
Hyattsville Ordinance 2020-05: Revisions to Chapter 108, Revitalization Tax Credit
end

Suggested Action:
recommendation
I move that the Mayor and Council adopt Ordinance 2020-05, an Ordinance whereby the City of Hyattsville amends its taxation provisions to permit the granting of revitalization tax credits to the production of affordable housing for individuals and families and to allow for certain exceptions in tax credit limitations pursuant to the production of affordable housing units (SECOND READING & ADOPTION).

end
Summary Background:
The Hyattsville City Council adopted HO2013-03 establishing the Revitalization Tax Credit. Since that time, the City has received comment from residents regarding the urgency of ensuring affordability in housing in the city. As proximity to transit areas promotes access for jobs and regional mobility, concentrating our efforts on affordable housing within the existing transit zones appears to be ideal. This legislation will offer the Mayor and Council guidance for consideration of abatement requests.

The City Council has directed the City Attorney to amend ?108-4 of the City Code to include eligible real property which is dedicated to the production of affordable housing units for individuals and families whose taxable income constitute sixty percent (60%) of Average Median Income (AMI).

This amendment was discussed by the City Council at the meeting of July 20, 2020, a first reading was held on August 10, 2020.

Next Steps:
A first reading was held on August 10, 2020. After adoption, staff will publish the legal notice and the ordinance will be effective after 20 days.

Fiscal Impact:
TBD

City Administrator Comments:
The City staff understands the amendment is intended to provide eligibility criteria for the creation and/or preservation of affordable housing units. The amended lan...

Click here for full text