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2282
LAWS OF MARYLAND
Ch. 659
FOR the purpose of giving the Housing Authority of Prince
George's County the powers necessary to provide
housing, housing rehabilitation, housing projects,
integrally related commercial structures, and the
financing of housing for County residents; and
providing for the sale of bonds by the Authority.
BY adding to
Article 44A - Housing Authorities
Section 8C
Annotated Code of Maryland
(1971 Replacement Volume and 1979 Supplement)
BY repealing and reenacting, with amendments,
Article 44A - Housing Authorities
Section 16(c)
Annotated Code of Maryland
(1971 Replacement Volume and 1979 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:
Article 44A - Housing Authorities
8C.
(A) IT IS FOUND AND DECLARED THAT THERE EXISTS WITHIN
PRINCE GEORGE'S COUNTY (1) A SHORTAGE OF DECENT, SAFE, AND
ADEQUATE HOUSING, AND (2) A NUMBER OF ECONOMICALLY DEPRESSED
AREAS AND HOUSING IN NEED OF REHABILITATION. AS A RESULT,
COUNTY RESIDENTS ARE FORCED TO OCCUPY OVERCROWDED, CONGESTED
AND DETERIORATED HOUSING AND LIVE IN DEPRESSED
NEIGHBORHOODS. THESE CONDITIONS NECESSITATE EXCESSIVE AND
DISPROPORTIONATE EXPENDITURES OF PUBLIC FUNDS FOR PUBLIC
HEALTH, SAFETY AND WELFARE PROTECTION, AND OTHER PUBLIC
SERVICES AND FACILITIES. THE SHORTAGE OF DECENT, SAFE, AND
ADEQUATE HOUSING AND THE REVITALIZATION OF DEPRESSED
NEIGHBORHOODS AND REHABILITATION OF HOUSING CANNOT BE
RELIEVED WHOLLY THROUGH THE OPERATION OF PRIVATE ENTERPRISE.
THE CONSTRUCTION AND REHABILITATION OF HOUSING FOR PRINCE
GEORGE'S COUNTY RESIDENTS, AND THE ACQUISITION AND
EXPENDITURE OF PUBLIC FUNDS TO PRODUCE SUCH HOUSING,
THEREFORE, ARE NOT COMPETITIVE WITH PRIVATE ENTERPRISE. A
NEED EXISTS FOR MORTGAGE CREDIT TO BE MADE AVAILABLE FOR NEW
HOUSING CONSTRUCTION AND FOR REHABILITATING EXISTING HOUSING
BECAUSE MANY PURCHASERS AND OWNERS OF HOUSING ARE UNABLE TO
AFFORD MORTGAGE CREDIT AT THE MARKET RATE OF INTEREST OR
OBTAIN MORTGAGE CREDIT BECAUSE THE MORTGAGE CREDIT MARKET IS
SEVERELY RESTRICTED. A NEED EXISTS FOR THE CONSTRUCTION AND
REHABILITATION OF SUCH HOUSING AND THE EXPENDITURE OF PUBLIC
RESOURCES AND ASSISTANCE MEET TRUE NEEDS AND ARE IN THE
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