WILLIAM DONALD SCHAEFER, Governor Ch. 330

RENTALS WITHIN THE FINANCIAL REACH OF PERSONS OF ELIGIBLE

INCOME;

(3) IT MAY NOT ACCEPT ANY PERSON AS A TENANT IN ANY
HOUSING PROJECT IF THE PERSON OR PERSONS WHO WOULD OCCUPY
THE DWELLING ACCOMMODATIONS HAVE AN AGGREGATE ANNUAL
INCOME IN EXCESS OF THE MAXIMUM INCOME LEVELS ESTABLISHED
FOR PERSONS OF ELIGIBLE INCOME; AND

(4) IT SHALL PROHIBIT SUBLETTING BY TENANTS.

(B) THE REQUIREMENTS OF SUBSECTION (A) OF THIS SECTION MAY
NOT APPLY TO THOSE RENTAL UNITS NOT REQUIRED TO BE OCCUPIED
BY PERSONS OF ELIGIBLE INCOME UNDER § 1-302(A)(4) OF THIS TITLE.

1-403.

NOTHING CONTAINED IN THIS SUBTITLE SHALL BE CONSTRUED AS
LIMITING THE POWER OF AN AUTHORITY TO VEST IN AN OBLIGEE THE
RIGHT, IN THE EVENT OF A DEFAULT BY THE AUTHORITY, TO TAKE
POSSESSION OF A HOUSING PROJECT OR CAUSE THE APPOINTMENT OF A
RECEIVER THEREOF OR ACQUIRE TITLE THERETO, THROUGH
FORECLOSURE PROCEEDINGS OR OTHERWISE, FREE FROM ALL THE
RESTRICTIONS IMPOSED BY THIS SUBTITLE.

1-404.

ALL HOUSING PROJECTS OF AN AUTHORITY SHALL BE SUBJECT TO
THE PLANNING, ZONING, SANITARY, HEALTH, FIRE, HOUSING,
SUBDIVISION, AND BUILDING LAWS, ORDINANCES, CODES, RULES, AND
REGULATIONS APPLICABLE TO THE LOCALITY IN WHICH THE HOUSING
PROJECT IS SITUATED, UNLESS MODIFIED OR EXCEPTED FROM,
PURSUANT TO § 1-305(A)(11) OF THIS TITLE.

1-405.

(A) AT LEAST ONCE A YEAR, AN AUTHORITY SHALL FILE WITH THE
CUSTODIAN OF RECORDS AN ANNUAL FINANCIAL REPORT OF ITS
ACTIVITIES FOR THE PRECEDING YEAR, AND SHALL MAKE
RECOMMENDATIONS FOR ANY ADDITIONAL ACTION BY THE LOCAL
GOVERNMENT WHICH IT DEEMS NECESSARY OR USEFUL IN ORDER TO
CARRY OUT THE PURPOSE OF THIS ARTICLE.

(B) THE LOCAL GOVERNMENT MAY REQUIRE AN AUTHORITY TO
PROVIDE TO THE LOCAL GOVERNMENT AN ANNUAL OPERATING
BUDGET AND ANY PROGRAM REPORTS THE LOCAL GOVERNMENT MAY
DESIGNATE.

(C) THE LOCAL GOVERNMENT OR ITS DESIGNEE SHALL HAVE THE
RIGHT TO EXAMINE ANY BOOKS OR RECORDS OF AND TO CONDUCT AN
AUDIT OF THE AUTHORITY AT ANY TIME.

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