HARRY HUGHES, Governor

2211

(K) "RENTAL HOUSING PRODUCTION PROJECT" OR "PROJECT" MEANS
ANY PROJECT OR UNDERTAKING FOR THE ACQUISITION, CONSTRUCTION, OR
REHABILITATION OF BUILDINGS AND IMPROVEMENTS, OR ANY PORTION
THEREOF, WHICH BUILDINGS AND IMPROVEMENTS OR PORTION THEREOF WILL
BE OCCUPIED ENTIRELY BY FAMILIES OF LOWER INCOME.

(L) "SPONSOR" MEANS ANY POLITICAL SUBDIVISION, PERSON,
PARTNERSHIP, JOINT VENTURE, CORPORATION, NONPROFIT ORGANIZATION,
OR OTHER LEGAL ENTITY THAT APPLIES FOR A LOAN UNDER THE RENTAL
HOUSING PRODUCTION PROGRAM ESTABLISHED UNDER THIS SUBTITLE.

266MM-2.

THERE IS A RENTAL HOUSING PRODUCTION PROGRAM OF THE
DEPARTMENT.

266MM-3.

THE PURPOSES OF THE PROGRAM ARE TO:

(1)  INCREASE THE SUPPLY OF DECENT, SAFE, AND SANITARY
RENTAL HOUSING FOR OCCUPANCY BY FAMILIES OF LOWER INCOME;

(2)  PROVIDE FINANCIAL ASSISTANCE FOR THE COSTS OF
ACQUIRING, CONSTRUCTING, OR REHABILITATING RENTAL HOUSING SO THAT
IT IS AFFORDABLE BY FAMILIES OF LOWER INCOME; AND

(3)  STIMULATE THE PARTICIPATION OF POLITICAL
SUBDIVISIONS IN PROVIDING ASSISTANCE FOR THE PRODUCTION OF
AFFORDABLE RENTAL HOUSING FOR FAMILIES OF LOWER INCOME.

266MM-4.

(A) THE DEPARTMENT SHALL:

(1)  MANAGE, SUPERVISE, AND ADMINISTER THE PROGRAM;

(2)  ADOPT POLICIES TO ENSURE THAT RENTAL HOUSING IS
MADE AVAILABLE TO FAMILIES OF LOWER INCOME WITH THE ASSISTANCE OF
POLITICAL SUBDIVISIONS;

(3)  ATTACH SUCH SPECIFIC TERMS TO ANY PURCHASE, SALE,
OR LEASE OF A PROJECT OR LAND THEREFOR AS MAY BE NECESSARY TO
CARRY OUT THE PURPOSES OF THE PROGRAM;

(4)  ESTABLISH GUIDELINES FOR OCCUPANCY OF THE RENTAL
UNITS PRODUCED UNDER THE PROGRAM BY FAMILIES OF LOWER INCOME TO
ENSURE THAT THE RENTAL UNITS RECEIVING FINANCIAL ASSISTANCE UNDER
THE PROGRAM ARE OCCUPIED BY FAMILIES OF LOWER INCOME;

(5)  COMPLY WITH THE REQUIREMENTS OF LOCAL LAWS,
ORDINANCES, CODES, CHARTERS, OR REGULATIONS APPLICABLE TO ANY
PARTICULAR PROJECT; AND