Section 4-215 – “Live Near Your Work” Program
(a) The Administration shall administer a home buyer assistance program that: (1) assists home buyers to receive low–interest mortgage loans, with down payment and closing cost assistance options, for the purchase of homes near their place of employment; and (2) coordinates with, and matches where appropriate, similar programs offered by private employers and county and municipal governments so […]
Section 4-231 – Contents of Enabling Resolution or Ordinance
(a) A resolution or ordinance that authorizes a local obligation shall contain: (1) a statement of the public purpose for which the proceeds of the local obligation are to be spent; (2) the form of the local obligation, including: (i) each place and time of payment; (ii) each interest rate or maximum interest rate; (iii) the titles of the officials whose […]
Section 4-215.1 – Home Buyer Assistance Program — Loans — Marketing of Program — Regulations — Annual Report
// EFFECTIVE UNTIL SEPTEMBER 30, 2024 PER CHAPTER 247 OF 2021 // (a) (1) In this section the following words have the meanings indicated. (2) “Current student” means an individual who: (i) attends a public institution of higher education in the State; and (ii) is a degree–seeking, full–time equivalent student in an undergraduate level, graduate level, or professional degree program. […]
Section 4-216 – Shelter and Transitional Housing Facilities Grant Program
For fiscal year 2018 and each fiscal year thereafter, the Governor shall include in the annual budget bill or the capital budget bill an appropriation of $3,000,000 from general funds or the proceeds from the sale of State general obligation bonds for the Shelter and Transitional Housing Facilities Grant Program.
Section 4-201 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Business project” means a project that qualifies under § 4–223 of this subtitle. (c) “Commercial building” means any building that: (1) is used primarily to carry on a business whether or not for profit; (2) is not a residential building; and (3) is not used primarily to manufacture or […]
Section 4-202 – Findings
The General Assembly finds that: (1) in this era of rapid population growth and expansion and of increasing urbanization, there is a need in many areas of the State to promote sound community development; (2) the political subdivisions do not have adequate resources to deal effectively with all of the problems of sound community development, and the […]
Section 4-203 – Program for Teachers
(a) To attract and retain teachers in the State by increasing homeownership opportunities, the General Assembly finds that there is a need to authorize the Department to develop a program to dedicate up to $25,000,000 over 5 years to provide mortgage loans to teachers at interest rates below the prevailing interest rate for similar programs. (b) (1) A […]
Section 4-204 – Established
There is a Community Development Administration.
Section 4-205 – Purpose of Administration
The Administration is created to: (1) coordinate activities and programs that contribute to sound community development; (2) encourage and facilitate the development of new and existing communities by reducing the costs of development through grants, loans, and other forms of financial assistance; (3) encourage and facilitate energy conservation and the use of solar energy in residential buildings and […]
Section 4-206 – Limitation on Grants
(a) Except as provided in subsection (b) of this section, a grant of land or money may be made only to a political subdivision, a local development entity, a local development agency, or a nonprofit organization. (b) (1) This section does not apply to grants that may be awarded to the Administration under federal law. (2) The Administration may […]