(a) In this subtitle the following words have the meanings indicated. (b) “Affordable” means that housing costs do not exceed 30% of a household’s income. (c) “Area median income” means the median household income for the area adjusted for household size as published and annually updated by the United States Department of Housing and Urban Development. (d) “Development costs” […]
(a) There is a Workforce Housing Grant Program. (b) The Program provides flexible funds to qualifying local governments for workforce housing programs, including programs that finance development costs. (c) The Program shall be operated with money in the Fund.
(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, […]
(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 […]
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 […]
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.
The Department shall redistribute among qualifying local governments the Program funds that have not been drawn down by other local governments within a 2–year period.
(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 […]
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.
(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.
(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 […]
A qualifying local government shall report annually to the Department on or before January 1 of each year on the use of Program funds.
The Secretary shall adopt regulations to carry out the purposes of the Program.
