5343
MONTGOMERY COUNTY

(1)    A DUELLING UNIT WHICH IS CONSTRUCTED, SOLD OF
RENTED UNDER A FEDERAL PROGRAM TO ASSIST THE CONSTRUCTION
OR OCCUPANCY OF HOUSING FOR FAMILIES OF LOW INCOME,
NAMELY (I) "CONVENTIONAL" OR "TURNKEY" CONSTRUCTION OF
DWELLING UNITS FOR THE HOUSING AUTHORITY OF MONTGOMERY
COUNTY (HEREAFTER THE "AUTHORITY") OR CONSTRUCTION IN
RELIANCE UPON AN AGREEMENT BY THE AUTHORITY PRIOR TO
COMMENCEMENT OF CONSTRUCTION TO ENTER INTO A LEASE
(COMMONLY KNOWN AS "TURNKEY LEASING") OR PURCHASE

CONTRACT FOR DWELLING UNITS AFTER COMPLETION THEREOF, AS
AUTHORIZED BY THE UNITED STATES HOUSING ACT OF 1937
(CODIFIED AS 12 U.S.C. §§1401-1436), AS AMENDED, OR (II)
PROVISION OF DWELLING UNITS UNDER THE FEDERAL RENT
SUPPLEMENT PROGRAM AUTHORIZED IN SECTION 101 OF THE
HOUSING AND URBAN DEVELOPMENT ACT OF 1965 (CODIFIED AS 12
U.S.C. §1701S), AS AMENDED, OR (III) A DWELLING UNIT
WHICH IS CONSTRUCTED, SOLD OR RENTED UNDER A FEDERAL
PROGRAM TO ASSIST THE CONSTRUCTION OR OCCUPANCY OF
HOUSING FOR FAMILIES UNDER THE PROGRAMS FOR
HOMEOWNERSHIP, RENTAL AND/OR COOPERATIVE HOUSING
AUTHORIZED IN SECTIONS 235 AND 236 OF THE NATIONAL
HOUSING ACT (CODIFIED AS 12 U.S.C. §§1715Z AND 1715Z-1) ,
AS AMENDED; OR (IV) ANY OTHER DWELLING UNIT WHICH IS
CONSTRUCTED, SOLD OR RENTED UNDER 1 FEDERAL, STATE OR
LOCAL GOVERNMENT PROGRAM TO ASSIST THE CONSTRUCTION OR
OCCUPANCY OF HOUSING FOR FAMILIES OF LOW OR MODERATE
INCOME AS DEFINED UNDER THOSE PROGRAMS.

(2)    A DWELLING UNIT WHICH IS SOLD OR RENTED IN
ACCORDANCE WITH THE FOLLOWING:

(A) SALES HOUSING. THE SALES PRICE OF
HOUSING FOR SALE FOR SINGLE-FAMILY DWELLING UNITS
(INCLUDING BROKERAGE FEES) WHICH SHALL NOT EXCEED THE
APPLICABLE MAXIMUM SALES PRICE SET FORTH HEREIN OR AS
ESTABLISHED FROM TIME TO TIME BY THE COUNTY EXECUTIVE BY
WRITTEN REGULATION. AT THE TIME OF THE ISSUANCE OF SUCH
REGULATIONS, THE COUNTY EXECUTIVE SHALL NOTIFY THE COUNTY
COUNCIL OF SUCH CHANGES IN SALES PRICE OR PRICES, WITH
SUPPORTING DATA AND REASONS THEREFOR. THIS SALES PRICE
SHALL TAKE INTO CONSIDERATION THE CURRENT PROTOTYPE COST
FOR THE CONSTRUCTION OF SUCH DWELLING UNIT UNDER
LIMITATIONS ESTABLISHED FOR MONTGOMERY COUNTY FROM TIME
TO TIME BY THE UNITED STATES DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT (HEREAFTER "HUD") TO FACILITATE THE
CONSTRUCTION OR OCCUPANCY OF HOUSING FOR FAMILIES UNDER
FEDERAL PROGRAMS FOR HOME OWNERSHIP. THE COUNTY
EXECUTIVE IN ISSUING REGULATIONS SHALL SEEK, IN ADDITION
TO THE GUIDELINES ABOVE, OTHER INFORMATION AS MAY BE
APPROPRIATE, SUCH AS CURRENT GENERAL MARKET AND ECONOMIC
CONDITIONS, AND SHALL CONSULT WITH THE CONSTRUCTION
INDUSTRY, EMPLOYERS, AND PROFESSIONAL AND CITIZENS GROUPS
TO OBTAIN STATISTICAL INFORMATION WHICH MAY ENABLE THE
COUNTY EXECUTIVE TO ARRIVE AT A CURRENT MAXIMUM SALES