(a) In this subtitle the following words have the meanings indicated. (b) “Cooperative housing corporation” has the meaning stated in § 5–6B–01 of the Corporations and Associations Article. (c) “Cooperative interest” has the meaning stated in § 5–6B–01 of the Corporations and Associations Article. (d) (1) “Family of limited income” means a family or individual whose income does not exceed […]
(a) This subtitle applies to buildings that, after rehabilitation, provide: (1) traditional dwellings; (2) single room occupancy; (3) shared living dwellings in which two or more households can live and share some or all of the living, dining, kitchen, or sanitary facilities; or (4) congregate or group housing and related services or temporary shelters and related services that serve: (i) individuals […]
The General Assembly finds that: (1) (i) many residents of the State live in dwellings that do not conform to building, health, safety, fire, occupancy, or other codes and standards applicable to housing; (ii) many communities or political subdivisions in the State do not have a minimum livability code; and (iii) these conditions impede the development and maintenance of […]
There is a Maryland Housing Rehabilitation Program.
The Maryland Housing Rehabilitation Program includes: (1) the Accessory, Shared, and Sheltered Housing Program; (2) the Indoor Plumbing Program; (3) the Migratory Worker Housing Program; (4) the Radon and Asbestos Abatement Pilot Program; and (5) the Accessible Homes for Senior Homeowners Grant Program.
(a) (1) The Department shall operate the Program and make Program loans. (2) As much as possible, the Program shall be administered: (i) in conjunction with federal programs assisting rehabilitation of housing, to ensure maximum use of available federal money; and (ii) consistently with locally approved plans or programs of concentrated neighborhood revitalization. (b) (1) Except for Program loans made under a […]
(a) The Regular Rehabilitation Program and the Special Rehabilitation Program shall operate with money in the Special Loan Programs Fund and other money available to the Department for these programs. (b) If the applications that qualify for a Program loan under the Regular Rehabilitation Program or a special loan program do not commit all money appropriated to […]
The Department may: (1) limit the return on equity allowed to, or enter into equity participation agreements with, sponsors and nonprofit sponsors; (2) require and obtain appraisals, credit and title information, and other information related to making Program loans; (3) contract for services relating to any aspect of the operation of the Program under the procedures required by […]
(a) If Program loans are secured by first or junior mortgages, the Department may: (1) enforce the mortgages; (2) foreclose on the mortgages and take title to the mortgaged properties, or take deeds in lieu of foreclosure; (3) convey title to purchasers; (4) obtain and enforce deficiency judgments; (5) allow assumption of mortgages; and (6) contract with private mortgage servicers to perform […]
(a) If a Program loan to a member of a cooperative housing corporation is secured by a security interest in the member’s cooperative interest, the Department may: (1) foreclose on the security interest or otherwise enforce the security interest as permitted under Title 9 of the Commercial Law Article; (2) take possession of the premises in lieu of […]
The Department may adopt regulations to carry out the Program.
(a) To ensure that all areas of the State are served, the Department shall allocate at least annually among the counties the money appropriated for making Program loans under the Regular Rehabilitation Program. (b) When allocating money to a county, the Department shall consider: (1) the number of families of limited income in the county; (2) the need to […]
Money that is received as repayment of principal or payment of interest on loans under the Program and that is not appropriated in the State budget may be credited to the Annuity Bond Fund, to be used to pay the principal of or interest on money borrowed by the State and appropriated to the Program.
The Department shall include in its request for appropriations for the Program: (1) an estimate of the interest rates at which Program loans may be made in the next fiscal year; (2) the total principal amount of Program loans expected to be made at those interest rates in the next fiscal year; and (3) any other information that […]
(a) If the Department certifies a political subdivision as capable of administering a local rehabilitation program, the political subdivision may originate and administer Program loans under regulations of the Department. (b) (1) By regulation, the Department shall establish standards for determining the capability of a political subdivision to administer a local rehabilitation program. (2) The standards shall include provisions […]
(a) (1) The Secretary shall set upper limits on the income that a family or individual may have to qualify as a family of limited income. (2) In setting the limits, the Secretary shall consider factors that include: (i) the portion of the total family income available for housing; (ii) the size of the family; (iii) the cost and condition of […]
(a) (1) The Department may make Program loans for housing on terms that the Department considers necessary to make the housing affordable to families of limited income. (2) The Department may make Program loans in the form of a grant to a family of limited income if: (i) the family of limited income owns and occupies the dwelling; and […]
(a) A Program loan: (1) may not be made if the Department determines that comparable private financing is available to the prospective borrower; and (2) may not exceed an amount the Secretary establishes by regulation. (b) (1) Except as provided under paragraphs (2), (3), (4), and (5) of this subsection, a Program loan of more than $5,000 shall be secured […]
(a) (1) When the Department makes a Program loan to finance a residential rehabilitation project, the sponsor or nonprofit sponsor shall restrict some dwellings for occupancy by families of limited income for at least the greater of 15 years and the number of years required by federal law. (2) The number of dwellings restricted under paragraph (1) of […]
(a) The Secretary shall establish standards to promote the maximum use of private financing. (b) If a portion of a rehabilitation project is to be financed by a private lending institution, the Department shall require that the sponsor use all the private financing that the rehabilitation project can support without impairing: (1) the rehabilitation project; or (2) affordable housing […]
