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Session Laws, 2006
Volume 750, Page 2472   View pdf image
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Ch. 483                                    2006 LAWS OF MARYLAND
4-1808. (A) A QUALIFYING COUNTY LOCAL GOVERNMENT SHALL USE PROGRAM
FUNDS FOR DEVELOPMENT COSTS ASSOCIATED WITH A WORKFORCE HOUSING
DEVELOPMENT LOCATED IN A PRIORITY FUNDING AREA IN ACCORDANCE WITH THE
5-YEAR CONSOLIDATED PLAN OR COMPREHENSIVE PLAN OF: (1) THE QUALIFYING COUNTY; OR (2) A MUNICIPAL CORPORATION WITHIN THE QUALIFYING COUNTY. (B) A QUALIFYING COUNTY MAY USE ITS PROGRAM FUNDS IN A MUNICIPAL
CORPORATION LOCATED WITHIN THE COUNTY; (1) AFTER CONSULTATION WITH THE MUNICIPAL CORPORATION; AND (2) WITH THE CONSENT OF THE MUNICIPAL CORPORATION. (C) IF A MUNICIPAL CORPORATION WITHIN A QUALIFYING COUNTY HAS A
5-YEAR CONSOLIDATED PLAN OR A COMPREHENSIVE PLAN WITH A WORKFORCE
HOUSING ELEMENT, THE QUALIFYING COUNTY MAY TRANSFER PROGRAM FUNDS TO
THE MUNICIPAL CORPORATION AND THE MUNICIPAL CORPORATION SHALL
ADMINISTER THE PROGRAM FUNDS IN ACCORDANCE WITH PROGRAM
REQUIREMENTS THE QUALIFYING LOCAL GOVERNMENT. 4-1809. WITH THE CONSENT OF THE DEPARTMENT, IN APPROPRIATE CIRCUMSTANCES,
A QUALIFYING COUNTY LOCAL GOVERNMENT MAY EXTEND THE INCOME
ELIGIBILITY LIMITS FOR A WORKFORCE HOUSING UNIT DEVELOPED WITH PROGRAM
FUNDS TO INCLUDE A HOUSEHOLD OF LOW OR MODERATE INCOME. 4-1810. (A)     THE SECRETARY SHALL ESTABLISH ANNUALLY THE MAXIMUM AMOUNT
OF PROGRAM FUNDS THAT A QUALIFYING COUNTY LOCAL GOVERNMENT MAY USE
TO DEVELOP A UNIT OF WORKFORCE HOUSING UNIT. (B)     THE PER UNIT MAXIMUM ESTABLISHED BY THE SECRETARY SHALL BE
EQUAL TO APPROXIMATELY 10% OF THE REGIONAL AVERAGE CONSTRUCTION COSTS
APPLICABLE TO THE QUALIFYING COUNTY LOCAL GOVERNMENT FOR A
COMPARABLE WORKFORCE HOUSING UNIT. 4-1811. (A) RENTAL UNITS DEVELOPED UNDER THIS SUBTITLE SHALL REMAIN
AFFORDABLE AS WORKFORCE HOUSING FOR A PERIOD OF AT LEAST 40 25 YEARS. (B) IF AN INITIAL BUYER OF A HOMEOWNERSHIP WORKFORCE HOUSING UNIT
DEVELOPED THROUGH THE PROGRAM TRANSFERS TITLE TO THE UNIT AT ANY TIME,
THE INITIAL BUYER SHALL ASSIGN TO THE DEPARTMENT 100% OF THE COMBINED
AMOUNT OF PROGRAM FUNDS AND QUALIFYING LOCAL GOVERNMENT MATCHING
FUNDS USED TO DEVELOP THE UNIT. - 2472 -


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Session Laws, 2006
Volume 750, Page 2472   View pdf image
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