WILLIAM DONALD SCHAEFER, Governor                      Ch. 48

(2) FOR ALL OTHER PROJECTS, ALL RESIDENTIAL UNITS
WILL BE OCCUPIED BY FAMILIES OF LOWER INCOME.

(1) "Sponsor" means any political subdivision, person,
partnership, joint venture, corporation, nonprofit organization,
or other legal entity, INCLUDING THE DEPARTMENT, that applies for
a loan under the Rental Housing Production Program established
under this subtitle.

11-804.

(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] DEVELOP PROCEDURES FOR
MONITORING THE 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

(6)  Adopt rules and regulations to carry out the
Program in conformance with statutory requirements.

(b)  Notwithstanding any provision of this subtitle or any
other law or regulation, the Department may:

(1)  Make and participate in making loans to sponsors
for any rental housing production project including loans for
development costs related to the construction or rehabilitation
of a project and loans for the acquisition of completed projects;

(2)  Own or lease a rental housing production project
or the land therefor during the construction or rehabilitation of
a project and sell, assign, or transfer the project without
public bidding or public sale to a sponsor upon its completion
upon such terms and conditions as may be determined to make
economically feasible rental housing available for families of
lower income;

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