Ch. 343 LAWS OF MARYLAND

GOVERNING BODY OF THE COUNTY OR MUNICIPALITY IN WHICH THE
PROJECT IS LOCATED;

(2) THE LOCAL GOVERNMENT EITHER:

(I) CONTRIBUTES FROM NONSTATE SOURCES THE LAND
FOR THE PARTNERSHIP RENTAL HOUSING; OR

(II) FUNDS THE PORTION OF THE ACQUISITION COST OF
THE PROPERTY THAT IS ATTRIBUTABLE TO THE VALUE OF THE LAND;

(3) THE LOCAL GOVERNMENT WILL HAVE AN OWNERSHIP
INTEREST IN THE PROJECT OR IN THE UNITS FINANCED BY THE
PROGRAM AND SOLD TO THE LOCAL GOVERNMENT OR PARTNERSHIP
THAT INCLUDES A LOCAL GOVERNMENT;

(4) THE LOCAL GOVERNMENT DIRECTLY OR INDIRECTLY
MANAGES THE OPERATION OF THE PROJECT;

(5) THE RENTAL UNITS FINANCED BY THE PROGRAM WILL BE
OCCUPIED UPON COMPLETION OF THE ACQUISITION, CONSTRUCTION,
RECONSTRUCTION, RENOVATION, OR REHABILITATION BY
HOUSEHOLDS OF LOWER INCOME;

(6) THE HOUSEHOLDS OF LOWER INCOME OCCUPYING THE
PROJECT OR PORTION THEREOF FINANCED BY THE PROGRAM ARE
REQUIRED TO CONTRIBUTE SERVICES TO ENHANCE OR MAINTAIN THE
PROJECT OR COMMUNITY IN A MANNER DEEMED ACCEPTABLE TO THE
LOCAL GOVERNMENT; AND

(7) IT IS REASONABLE TO ANTICIPATE THAT:

(I) ADDITIONAL STATE OR FEDERAL SUBSIDIES WILL
NOT BE REQUIRED FOR LONG-TERM OCCUPANCY BY HOUSEHOLDS OF
LOWER INCOME; AND

(II) RENTAL INCOME, INCLUDING ANY CONTRIBUTION TO
ALLOW FOR MORE AFFORDABLE RENTS THAT IS MADE UNDER §
2-1107(B) OF THIS SUBTITLE, WILL BE SUFFICIENT TO PAY ALL
OPERATING COSTS OF THE PROJECT AS WELL AS BUILD UP A RESERVE
ACCOUNT IN AN AMOUNT ADEQUATE FOR THE LONG-TERM
MAINTENANCE AND RENOVATION OF THE PROJECT; AND.; AND

(81 FOR EACH PARTNERSHIP PROJECT SUBSEQUENT TO THE
FIRST PROJECT UNDERTAKEN BY A LOCAL GOVERNMENT. THE AMOUNT
OF THE LOCAL CONTRIBUTION ON A PERCENTAGE BASIS TO THE
PROJECT IS GREATER THAN THE LOCAL CONTRIBUTION ON A
PERCENTAGE BASIS TO THE IMMEDIATELY PRECEDING PARTNERSHIP
PROJECT UNDERTAKEN BY THE LOCAL GOVERNMENT, UNLESS THE
SECRETARY DETERMINES THAT THE LOCAL GOVERNMENT:

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