MARVIN MANDEL, Governor                                 1801

SUCH POWER IS PURSUANT TO AND IN ACCORDANCE WITH LOCAL
LAW OR A CONTRACT OR CONTRACTS WITH MONTGOMERY COUNTY.
FOR PURPOSES OF THIS SECTION, THE PHRASE "PERSONS OF
ELIGIBLE INCOME" SHALL MEAN PERSONS WHO INDIVIDUALLY OR
AS PART OF A FAMILY UNIT LACK SUFFICIENT INCOME OR ASSETS
(AS DETERMINED BY THE MONTGOMERY COUNTY EXECUTIVE OR HIS
DESIGNEE) TO ENABLE THEM, WITHOUT FINANCIAL ASSISTANCE,
TO LIVE IN DECENT, SAFE AND SANITARY DWELLINGS WITHOUT
OVERCROWDING.

(D)    IN ADDITION TO THE POWERS ENUMERATED IN THIS
ARTICLE AND ANY POWERS GIVEN BY MONTGOMERY COUNTY BY
LOCAL LAW, THE HOUSING OPPORTUNITIES COMMISSION OF
MONTGOMERY COUNTY, IN PROVIDING HOUSING FOR PERSONS OF
ELIGIBLE INCOME IN ACCORDANCE WITH SUBSECTION (C) ABOVE,
SHALL HAVE THE FOLLOWING POWERS:

(1)    TO MAKE MORTGAGE LOANS AND HAKE RENT
SUBSIDY PAYMENTS TO PERSONS OF ELIGIBLE INCOME.

(2)    TO MAKE CONSTRUCTION LOANS AND LONGTERM
MORTGAGE LOANS TO ANY PERSON, FIRM, PARTNERSHIP,
ASSOCIATION, JOINT VENTURE, OR CORPORATION, PUBLIC OR
PRIVATE, TO PRODUCE HOUSING FOR PERSONS OF ELIGIBLE
INCOME.

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

(E)    FOR PURPOSES OF THIS SECTION, THE PHRASE
"HOUSING OR HOUSING PROJECT FOR PERSONS OF ELIGIBLE
INCOME" MEANS ANY UNDERTAKING OR PROJECT, OR PORTION
THEREOF, INCLUDING LANDS, BUILDINGS AND IMPROVEMENTS,
REAL, MIXED AND PERSONAL PROPERTIES OR INTEREST THEREIN
THAT IS PLANNED, ACQUIRED, OWNED, DEVELOPED, CONSTRUCTED,
RECONSTRUCTED, REHABILITATED OR IMPROVED FOR PURPOSES OF
PROVIDING DWELLING ACCOMMODATIONS A SUBSTANTIAL PORTION
OF WHICH ACCOMMODATIONS SHALL BE FOR PERSONS OF ELIGIBLE
INCOME, AND SUCH STREETS, ROADS, SEWER AND WATERLINES AND
OTHER SUPPORTING PUBLIC AND PRIVATE FACILITIES INTENDED
FOR COMMERCIAL, EDUCATIONAL, CULTURAL, RECREATIONAL,
COMMUNITY OR OTHER CIVIC PURPOSES AS MAY BE DEEMED
NECESSARY FOR SOUND COMMUNITY DEVELOPMENT.

SECTION 2. AND BE IT FURTHER ENACTED, That new
Section 6A be and it is hereby added to Article 44B —
Housing Cooperation and Aid, of the Annotated Code of
Maryland (1971 Replacement Volume and 1973 Supplement) to
read as follows:

Article 44B - Housing Cooperation and Aid
6A.