Ch. 330 LAWS OF MARYLAND

FINANCIAL ASSISTANCE FROM THE LOCAL, STATE, OR FEDERAL
GOVERNMENT AND ACCEPT GRANTS FROM NONGOVERNMENTAL
SOURCES f OR OR IN AID OF ANY HOUSING PROJECT WITHIN ITS AREA
OF OPERATION, TO TAKE OVER OR LEASE OR MANAGE ANY HOUSING
PROJECT OR UNDERTAKING CONSTRUCTED, FINANCED, OR OWNED BY
THE LOCAL, STATE, OR FEDERAL GOVERNMENT, AND TO THESE ENDS,
TO COMPLY WITH SUCH CONDITIONS AND ENTER INTO SUCH
MORTGAGES, TRUST INDENTURES, LEASES, OR AGREEMENTS AS MAY BE
NECESSARY, CONVENIENT, OR DESIRABLE. IT IS THE PURPOSE AND
INTENT OF THIS ARTICLE TO AUTHORIZE EVERY AUTHORITY TO DO
ANY AND ALL THINGS NECESSARY OR DESIRABLE TO SECURE THE
FINANCIAL AID OR COOPERATION OF THE LOCAL, STATE, OR FEDERAL
GOVERNMENT IN THE UNDERTAKING, CONSTRUCTION, MAINTENANCE,
OR OPERATION OF ANY HOUSING PROJECT BY SUCH AUTHORITY; AND

(11) TO EXERCISE ALL OR ANY PART OR COMBINATION OF
POWERS HEREIN GRANTED.

1-302.

(A) IF ELECTED IN ACCORDANCE WITH § 1-203(B)(7) OF THIS TITLE,
AN AUTHORITY SHALL HAVE THE FOLLOWING POWERS WITHIN ITS
AREA OF OPERATION TO THE EXTENT AUTHORIZED BY ITS ARTICLES OF
ORGANIZATION, 'SUBJECT TO SUCH CONDITIONS, RESTRICTIONS, OR
OTHER LIMITATIONS AS MAY BE PROVIDED FOR IN THE ARTICLES:

(1) TO MAKE MORTGAGE LOANS AND MORTGAGE SUBSIDY
PAYMENTS TO OR FOR THE BENEFIT OF PERSONS OF ELIGIBLE INCOME;

(2) TO MAKE CONSTRUCTION LOANS AND LONG-TERM
MORTGAGE LOANS TO ANY PERSON, FIRM, PARTNERSHIP, ASSOCIATION,
JOINT VENTURE, OR CORPORATION, PUBLIC OR PRIVATE, IN ORDER TO
PRODUCE HOUSING FOR PERSONS OF ELIGIBLE INCOME;

(3) TO PURCHASE MORTGAGES SECURED BY HOUSING FOR
PERSONS OF ELIGIBLE INCOME;

(4) SUBJECT TO ANY RESTRICTIONS CONTAINED IN ANY
APPLICABLE AGREEMENT WITH THE STATE OR FEDERAL GOVERNMENT
OR ANY OTHER PARTY, TO PERMIT UP TO THE PERCENTAGE
DESIGNATED BY THE ARTICLES OF ORGANIZATION, WHICH MAY NOT
EXCEED 80 PERCENT, OF THE RESIDENTS OF ANY HOUSING PROJECT OR
ANY PORTION THEREOF FINANCED BY THE AUTHORITY TO HAVE
INCOMES ABOVE THE LEVELS ESTABLISHED FOR PERSONS OF ELIGIBLE
INCOME;

(5) TO ACQUIRE, DEVELOP, CONSTRUCT, REHABILITATE,
OWN, OPERATE, AND LEASE (EITHER AS LESSOR OR LESSEE)
COMMERCIAL FACILITIES ON OR ADJACENT TO THE SITE OF A HOUSING
PROJECT WHICH MAKE AN ECONOMIC OR SOCIAL CONTRIBUTION TO

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