2210

LAWS OF MARYLAND

Ch. 629

(7)  INITIAL OCCUPANCY EXPENSES OF THE PROJECT;

(8)  INDEMNITY AND SURETY BONDS AND PREMIUMS ON
INSURANCE; AND

(9)  OTHER FEES AND RELOCATION EXPENSES.

(D)  (1) "FAMILIES OF LOWER INCOME" MEANS FAMILIES OR
PERSONS WHOSE INCOMES DO NOT EXCEED UPPER INCOME LIMITS
ESTABLISHED BY THE SECRETARY OF ECONOMIC AND COMMUNITY
DEVELOPMENT TAKING INTO CONSIDERATION FACTORS INCLUDING:

(I)  THE AMOUNT OF THE TOTAL INCOME OF THE
FAMILIES AVAILABLE FOR HOUSING NEEDS;

(II)  THE SIZE OF THE FAMILY;

(III)  THE COST AND CONDITION OF HOUSING
FACILITIES AVAILABLE;

(IV)  THE ABILITY OF THE FAMILIES TO COMPETE
SUCCESSFULLY IN THE CONVENTIONAL PRIVATE HOUSING MARKET; AND

(V)  RELEVANT STANDARDS AND DEFINITIONS
ESTABLISHED FOR FEDERAL HOUSING PROGRAMS.

(2) THE INCOME LIMITS FOR FAMILIES OF LOWER INCOME
SHALL BE ESTABLISHED AT LEVELS LOWER THAN THE INCOME LIMITS
ESTABLISHED FOR FAMILIES OF LIMITED INCOMES AS PROVIDED IN
ARTICLE 41, SECTION 266DD-3. THE LIMITS MAY DIFFER FOR DIFFERENT
AREAS OR REGIONS OF THE STATE. A LIMIT OF GENERAL APPLICABILITY
MAY BE SUPPLEMENTED BY A LOWER LIMIT APPLICABLE TO A PARTICULAR
PROJECT.

(E)  "FUND" MEANS THE RENTAL HOUSING PRODUCTION FUND.

(F)  "LOAN" MEANS A LOAN OF MONEY MADE BY THE DEPARTMENT
UNDER THIS SUBTITLE.

(G)  "OPERATING COSTS" MEANS ANY COSTS INCURRED BY A SPONSOR
OF A COMPLETED PROJECT NECESSARY TO MAINTAIN OR OPERATE A PROJECT
INCLUDING PAYMENTS OF PRINCIPAL AND INTEREST ON A LOAN TO COVER
DEVELOPMENT COSTS.

(H) "NONPROFIT ORGANIZATION" MEANS A CORPORATION,

FOUNDATION, OR OTHER LEGAL ENTITY, NO PART OF THE NET EARNINGS OF

WHICH INURES TO THE BENEFIT OF ANY PRIVATE SHAREHOLDER OR
INDIVIDUAL HOLDING ANY INTEREST IN SUCH ENTITY.

(I) "POLITICAL SUBDIVISION" MEANS ANY MUNICIPAL CORPORATION
IN MARYLAND SUBJECT TO THE PROVISIONS OF ARTICLE XI-E OF THE
CONSTITUTION, THE MAYOR AND CITY COUNCIL OF BALTIMORE, AND ANY OF
THE 23 COUNTIES IN MARYLAND.

(J) "PROGRAM" MEANS THE RENTAL HOUSING PRODUCTION PROGRAM.