Following several years of planning and research, the City Council approved the adoption of the Housing and Economic Development Strategic Plan.
The plan is designed to:
- Preserve existing businesses and affordable housing in Takoma Park, including in revitalizing areas;
- Produce more housing and opportunities for businesses to start and grow across the income spectrum and in neighborhoods across the City to meet diverse housing and economic needs;
- Protect renters, homeowners, and local businesses from discrimination and displacement; and protect our environment from destruction.
Featured Housing Services
The Housing and Community Development Department monitors Takoma Park’s rental housing stock and ensures compliance with the City’s landlord-tenant laws.
Takoma Park’s Rent Stabilization Law (City Code Chapter 6.20 Rent Stabilization) was first adopted in 1981 and is one of the City’s primary affordable housing programs. Although it has undergone a number of revisions since its adoption, the program is designed to preserve the city’s affordable housing stock and maintain economic and ethnic diversity by controlling the frequency and amount of rent increases that may be imposed by a landlord. Beginning July 1, 2022 through June 30, 2023, the Rent Stabilization Allowance is 7.3%.
Home Stretch Down Payment Assistance
The City of Takoma Park’s Down Payment Assistance Program, called The Home Stretch, provides financial assistance to eligible individuals and families seeking homeownership.
The City of Takoma Park has partnered with several organizations to expand affordable homeownership opportunities.
Financial Assistance for Tenants and Homeowners
This section will feature any programs offering financial resources to tenants and homeowners in the City.