2938

LAWS OF MARYLAND

Ch. 788

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. WITH RESPECT TO THE ELDERLY OR
HANDICAPPED OR PERSONS AND FAMILIES WITH OTHER SPECIAL
NEEDS, THE MEANING OF THE PHRASE "PERSONS OF ELIGIBLE
INCOME" MAY BE ADJUSTED BY THE COUNTY EXECUTIVE OR HIS
DESIGNEE, IF OTHER CRITERIA ARE CONSIDERED MORE APPROPRIATE
IN ACHIEVING THE PUBLIC PURPOSES STATED IN SUBSECTION (A) OF
THIS SECTION. THE DETERMINATION OF PERSONS OF ELIGIBLE
INCOME BY THE COUNTY EXECUTIVE UNDER THIS SECTION IS
CONCLUSIVE OF THE MATTERS DETERMINED. THE COUNTY EXECUTIVE
MAY AMEND THE MEANING OF "PERSONS OF ELIGIBLE INCOME" BY
ISSUING A PROPOSED EXECUTIVE REGULATION. THE REGULATION
WILL BECOME EFFECTIVE ONLY AFTER A PUBLIC HEARING HELD IN
ACCORDANCE WITH PROCEDURES ESTABLISHED BY THE COUNTY
COUNCIL.

(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 make rent subsidy
payments to persons of eligible income.

(2)  To make construction loans and long-term
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.
THE PHRASE "SUBSTANTIAL PORTION" MEANS THAT 50 PERCENT OR
MORE OF THE DWELLING ACCOMMODATIONS ARE INITIALLY OCCUPIED,
AFTER FINANCING FOR SUCH PROJECT IS PROVIDED BY THE HOUSING
OPPORTUNITIES COMMISSION, BY PERSONS OF ELIGIBLE INCOME, OR