SILVER SPRING, Md. (WDVM) — Montgomery County leaders are striving for more housing at Metro stations.
A bill introduced by Council member Hans Riemer is set to provide new incentives to build thousands of units of housing on top of Metro stations. The county is seeing a shortage of affordable housing, and some leaders believe building on top of stations could be a possible solution. Officials are hoping the bill promotes affordability and helps fight climate change.
“Housing on top of Metro is a solution in the fight against climate change. Increasing the supply of housing in the county will help alleviate pressure on rent, on market and affordable housing,” Riemer said.
The bill will help produce 8,600 new housing units, including 1,300 for county affordable programs. Bill 29-20 would require the Director of Finance to offer a payment in lieu of taxes for a residential or commercial high rise building constructed by a private developer on property leased from the Washington Metropolitan Area Transit Authority (WMATA) at a Metro station.
The bill would require the payment in lieu of taxes that would exempt 100% of the real property tax that would otherwise be levied for a period of 15 years, beginning in the year a use and occupancy permit is issued for the qualifying development.
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