|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 63
|
|
2006 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
AT THE MARKET INTEREST RATE OR GET MORTGAGE CREDIT BECAUSE THE
MORTGAGE CREDIT MARKET IS SEVERELY RESTRICTED;
(8) (I) THERE IS A NEED TO:
1. ACQUIRE, CONSTRUCT, AND REHABILITATE CONTINUING
CARE FACILITIES AT THE LEAST COST TO THOSE WHO USE THEM;
2. CONSTRUCT HOUSING THAT IS DECENT, SAFE, AND
ADEQUATE; AND
3. REHABILITATE HOUSING TO MAKE IT DECENT, SAFE, AND
ADEQUATE; AND
(II) IT IS IN THE PUBLIC INTEREST TO EXPEND PUBLIC RESOURCES
AND GIVE ASSISTANCE TO MEET THIS NEED;
(9) MANY FAMILIES LIVE IN HOUSING THAT IS DECENT AND SAFE, BUT
IS INADEQUATE FOR THE SIZE OF THE FAMILY;
(10) SOME OF THOSE FAMILIES COULD AFFORD TO BUY NEW HOUSING IF
THEIR EXISTING HOMES COULD BE SOLD TO SMALLER FAMILIES FOR WHOM THE
HOMES WOULD BE MORE ADEQUATE;
(11) MANY POTENTIAL BUYERS OF THESE EXISTING HOMES ARE
FIRST-TIME BUYERS, WHO FIND IT DIFFICULT OR IMPOSSIBLE TO AFFORD NEWLY
CONSTRUCTED HOUSING BECAUSE THEY DO NOT HAVE AN EQUITY INTEREST IN
THEIR PRESENT HOUSING TO HELP FINANCE A HOME PURCHASE; AND
(12) THEREFORE, IT IS IN THE PUBLIC INTEREST TO HELP FIRST-TIME
HOMEBUYERS ACQUIRE EXISTING HOUSING AS WELL AS NEWLY CONSTRUCTED OR
REHABILITATED HOUSING, AS THE ASSISTANCE WILL:
(I) HELP NONHOMEOWNERS ACQUIRE HOUSING;
(II) HELP HOMEOWNERS TO ACQUIRE MORE ADEQUATE HOUSING;
AND
(III) STIMULATE THE PRIVATE SECTOR PRODUCTION OF NEW
HOUSING.
(B) EFFECT OF SECTION.
THE GENERAL ASSEMBLY FINDS THAT THIS TITLE:
(1) CREATES A SOUND HOUSING STOCK;
(2) CONTRIBUTES TOWARDS A BALANCED ECONOMY;
(3) PROMOTES THE HEALTH, WELFARE, AND SAFETY OF THE
RESIDENTS; AND
(4) SERVES VALID PUBLIC PURPOSES.
|
|
|
|
|
|
|
|
|
|
- 538 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
