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ROBERT L. EHRLICH, JR., Governor
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Ch. 63
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(1) MAKE MORTGAGE LOANS AND MORTGAGE SUBSIDY PAYMENTS TO
OR FOR THE BENEFIT OF PERSONS OF ELIGIBLE INCOME;
(2) MAKE CONSTRUCTION LOANS AND LONG-TERM MORTGAGE LOANS
TO ANY PERSON TO PRODUCE HOUSING FOR PERSONS OF ELIGIBLE INCOME;
(3) PURCHASE MORTGAGES SECURED BY HOUSING FOR PERSONS OF
ELIGIBLE INCOME;
(4) SUBJECT TO ANY APPLICABLE AGREEMENT, ALLOW A NUMBER OF
RESIDENTS OF A HOUSING PROJECT OR A PART OF ONE THAT THE AUTHORITY
FINANCES TO HAVE INCOMES ABOVE THE LEVELS FOR PERSONS OF ELIGIBLE
INCOME, IF THE NUMBER DOES NOT EXCEED THE PERCENTAGE ALLOWED IN THE
ARTICLES OF ORGANIZATION, WHICH MAY NOT EXCEED 80%;
(5) ACQUIRE, DEVELOP, CONSTRUCT, REHABILITATE, OWN, OPERATE,
AND LEASE, AS LESSOR OR LESSEE, COMMERCIAL FACILITIES ON THE SITE OF A
HOUSING PROJECT THAT MAKE AN ECONOMIC OR SOCIAL CONTRIBUTION TO THE
HOUSING PROJECT, IF:
(I) THE COMMERCIAL FACILITIES ARE INTENDED SUBSTANTIALLY
FOR THE USE AND BENEFIT OF THE TENANTS OF THE HOUSING PROJECT; AND
(II) THE INTENDED USE BY OTHER PERSONS IS INCIDENTAL;
(6) WITH THE APPROVAL OF THE LEGISLATIVE BODY AND THE CHIEF
ELECTED OFFICIAL, ACQUIRE, DEVELOP, CONSTRUCT, REHABILITATE, OWN,
OPERATE, AND LEASE, AS LESSOR OR LESSEE, COMMERCIAL FACILITIES THAT:
(I) ARE ADJACENT TO THE SITE OF A HOUSING PROJECT;
(II) ARE NOT INTENDED SUBSTANTIALLY FOR THE USE AND
BENEFIT OF THE TENANTS OF THE HOUSING PROJECT; OR
(III) ARE INTENDED FOR USE MORE THAN INCIDENTALLY BY
PERSONS OTHER THAN THE TENANTS OF THE HOUSING PROJECT; AND
(7) ACT AND INVEST AS A GENERAL PARTNER AND AS A LIMITED
PARTNER IN HOUSING PROJECTS.
(B) EFFECT ON OTHER POWERS.
THIS SECTION DOES NOT LIMIT THE POWERS GRANTED TO AUTHORITIES BY
OTHER TITLES IN THIS DIVISION II.
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 44A, § 1-302.
In the introductory language of subsection (a) of this section, the phrase
"[i]f authorized under its articles of organization" is substituted for the
former phrase "[i]f elected in accordance with § 1-203(b)(7) of this title" for
clarity.
Also in the introductory language of subsection (a) of this section, the
- 459 -
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