Section 4-1808 – Use of Funds
(a) A qualifying local government shall use Program funds for development costs associated with a workforce housing development located in a priority funding area in accordance with the 5–year consolidated plan or comprehensive plan of the qualifying local government. (b) A qualifying local government may request that its program funds or match be expended by the Department […]
Section 4-1809 – Extension of Income Eligibility Limits
With the consent of the Department, in appropriate circumstances, a qualifying local government may extend the income eligibility limits for a workforce housing unit developed with Program funds to include a household of low or moderate income.
Section 4-1810 – Establishment of per Unit Maximum Amount
(a) The Secretary shall establish annually the maximum amount of Program funds that a qualifying local government may use to develop a workforce housing unit. (b) The per unit maximum established by the Secretary shall take into account the regional average construction costs applicable to the qualifying local government for a comparable workforce housing unit.
Section 4-1811 – Requirements on Event of Transfer
(a) Rental units developed under this subtitle shall remain affordable as workforce housing for a period of at least 25 years. (b) If an original buyer of a homeownership workforce housing unit developed through the Program transfers title to the unit at any time, the original buyer shall pay to the Department 100% of the combined amount […]
Section 4-1812 – Reports
A qualifying local government shall report annually to the Department on or before January 1 of each year on the use of Program funds.
Section 4-1813 – Regulations
The Secretary shall adopt regulations to carry out the purposes of the Program.
Section 4-1803 – Requirements for Participation
(a) A local government qualifies for participation in the Program if: (1) the local government has: (i) a 5–year consolidated plan approved by the United States Department of Housing and Urban Development; or (ii) a comprehensive plan; (2) the plans listed in item (1) of this subsection: (i) have a workforce housing element; (ii) assess workforce housing needs; and (iii) contain goals, objectives, […]
Section 4-1804 – Matching Funds
(a) A qualifying local government shall provide a dollar–for–dollar match for Program funds used to develop workforce housing units under this subtitle. (b) In determining whether a local government has met the match requirement under subsection (a) of this section, the Department may consider the local government’s: (1) costs to administer a program under this subtitle; and (2) financial […]
Section 4-1805 – Proportional Distribution of Annual Appropriations
The Department shall proportionately distribute the annual appropriation of Program funds as follows: (1) if a county is a qualifying local government, and no municipal corporation in the county is a qualifying local government, the Department shall distribute Program funds to the county based on the county’s share of the State population; (2) if a county is […]
Section 4-1806 – Requirements for Drawing Down Program Funds by Qualifying Local Government
Before drawing down any Program funds, a qualifying local government shall: (1) provide evidence satisfactory to the Department that the Program funds will be matched by the qualifying local government on a dollar-for-dollar basis; and (2) meet other Program criteria adopted by the Secretary.