WILLIAM DONALD SCHAEFER, Governor                   Ch. 309

(7) Use federal and State programs that complement or
facilitate carrying out the Program.

(f)  The Corporation shall ensure that all of the awards are
used for projects which will provide construction or
rehabilitation of low income [rental] housing units with
preference given to those applications which will serve the
lowest possible income groups.

(g)  (1) The Corporation shall prescribe procedures to
ensure that, except for lack of available funds, financial
assistance committed may not be suspended or terminated unless
the recipient has been given reasonable notice and opportunity
for a timely, full, and fair hearing conducted by an independent
hearing examiner.

(2) The hearing shall be held prior to any final
decision by the Corporation to terminate financial assistance or
suspend or deny funding.

(h) (1) Administrative expenses shall be kept as low as
possible, and may not exceed THE LESSER GREATER OF $100,000 OR 8
percent of the [funds of the Corporation] FUND.

(2) State funds may not be used for administrative
expenses.

(i) The Corporation shall indemnify the members of the
board and its officers, agents, and employees to the maximum
extent permitted by the Maryland General Corporation Law.

(j) The Corporation shall publish an annual report which
the Corporation shall file with the Governor and, subject to §
2-1312 of the State Government Article, with the General
Assembly. This report shall include a description of services
provided.

13-609.

The money in the Fund may be used to make grants, loans, or
deferred payment loans subordinate to other financing or to
ensure deferred payment loans or guarantees of loans from other
sources to approved applicants for substantial construction or
rehabilitation of low income [rental] housing. Any loan made or
guaranteed by the Program may be subordinated to other financing.

13-610.

(a) The Corporation shall review applications for awards
submitted by private or nonprofit sponsors, counties,
municipalities, or local housing agencies established under
Article 44A of the Code on behalf of sponsors of proposed

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