Frederick will likely use leftover federal housing funds to purchase a home to be used as affordable housing in the city.
The city’s mayor and aldermen discussed a plan at a workshop Wednesday to use unallocated Community Development Block Grant money to begin a program to buy properties to add to the affordable housing stock for working families.
Under the program, the city would buy market-ready homes and sell them to qualified families at an affordable rate, said Brandon Mark of the city’s Planning Department.
The city would take out a second mortgage on a home to cover the difference between the cost and what’s affordable for a buyer, he said.
Alderman Ben MacShane asked how the city planned to identify properties it would be interested in, whether by price, neighborhood or other factors.
The city would put out a request for proposals to solicit anyone interested in selling…