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1566
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LAWS OF MARYLAND
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Ch. 510
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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 that 20 percent or more of the dwelling accommodations are for
low income persons assisted or who are eligible to be assisted
with federal subsidies. If the owners of the project certify to
the Housing Opportunities Commission that they will make their
best efforts to comply with this section, the "substantial"
requirement is considered satisfied for purposes of this section.
[(f)] (G) (1) In this section "assisted family housing" has
the definition provided by the Montgomery County government.
(2) The Housing Opportunities Commission shall hold a
public hearing on its proposed assisted family housing.
(3) The public hearing shall be publicized by a
display advertisement in 2 newspapers of general circulation in
Montgomery County at least 15 days prior to the public hearing.
(4) The Housing Opportunities Commission, subsequent
to the public hearing, shall issue a report of its finding and
conclusions on its proposed assisted family housing which was the
subject of the public hearing.
[(g)] (H) (1) Before December 1 of each year, the Housing
Opportunities Commission shall issue an annual financial report
for the previous fiscal year based on a certified audit.
(2) A summary of the report shall be published in at
least two newspapers of general circulation in Montgomery County.
[(h)] (I) (1) The Housing Opportunities Commission shall
submit its proposed budget to the Montgomery County Council by
May 1 of each year.
(2) The public shall have an appropriate opportunity
to comment on the proposed budget of the Housing Opportunities
Commission.
(3) The Montgomery County Executive and Council may
require and select an independent public accountant or firm
certified as such in Maryland to perform an audit of the books of
the Housing Opportunities Commission who shall be paid out of the
operating budget of the Commission.
8B.
(a) It is hereby found and declared that there exists
within Baltimore City a critical shortage of decent, safe and
sanitary dwelling accommodations available either to rent or
purchase which persons of eligible income can afford and that, as
a result, such persons are forced to occupy overcrowded and
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