WILLIAM DONALD SCHAEFER, Governor Ch. 625

(III)  SITE PREPARATION; AND

(IV)  INDEMNITY AND SURETY BONDS AND
PREMIUMS ON TITLE AND HAZARD INSURANCE.

(2)  "LOCAL GOVERNMENT" MEANS ANY MUNICIPAL
CORPORATION IN MARYLAND SUBJECT TO THE PROVISIONS OF ARTICLE XI-E
OF THE CONSTITUTION, THE MAYOR AND CITY COUNCIL OF BALTIMORE, ANY
OF THE 23 COUNTIES IN MARYLAND, AND ANY HOUSING AUTHORITY
AUTHORIZED UNDER ARTICLE 44A.

(3)  "LOWER INCOME HOUSEHOLD" MEANS A HOUSEHOLD
WHOSE GROSS ANNUAL INCOME DOES NOT EXCEED 50 PERCENT OF THE
STATEWIDE MEDIAN INCOME FOR A HOUSEHOLD OF LIKE SIZE OR SUCH
LESSER INCOME LEVEL AS MAY BE ESTABLISHED FOR ANY PARTICULAR
PROJECT BY THE SECRETARY OF HOUSING AND COMMUNITY DEVELOPMENT.

(4)  "PARTNERSHIP RENTAL HOUSING" MEANS HOUSING
FACILITIES, INCLUDING APARTMENTS, CONDOMINIUMS, COOPERATIVES,
TOWNHOUSES, TOWNHOMES, AND SINGLE FAMILY HOMES.

(C)  THE SECRETARY OF HOUSING AND COMMUNITY
DEVELOPMENT SHALL ADOPT REGULATIONS ESTABLISHING THE TIME WHEN
HOUSEHOLDS THAT EXCEED THE INCOME LIMITS FOR LOWER INCOME
HOUSEHOLDS AFTER INITIAL OCCUPANCY WILL BE REQUIRED TO VACATE THE
PARTNERSHIP RENTAL HOUSING.

(D)  ANY LOCAL GOVERNMENT MAY APPLY TO THE COMMUNITY
DEVELOPMENT ADMINISTRATION FOR FUNDS TO FINANCE THE DEVELOPMENT
COSTS OF NEW CONSTRUCTION, RECONSTRUCTION, OR SUBSTANTIAL
REHABILITATION OF BUILDINGS FOR THE PURPOSE OF ADDING TO THE
STOCK OF RENTAL HOUSING AVAILABLE TO LOWER INCOME HOUSEHOLDS.
THE BOND PROCEEDS SHALL BE GOVERNED BY AND SUBJECT TO THE
FOLLOWING STIPULATIONS AND LIMITATIONS:

(1)  THE LOCAL GOVERNMENT SHALL PROVIDE THE SITE
FOR THE PARTNERSHIP RENTAL HOUSING.

(2)  THE LOCAL GOVERNMENT SHALL OWN THE
PARTNERSHIP RENTAL HOUSING.

(3)  THE LOCAL GOVERNMENT SHALL DIRECTLY OR
INDIRECTLY MANAGE THE OPERATION OF THE PARTNERSHIP RENTAL
HOUSING.

(4)  THE PARTNERSHIP RENTAL HOUSING FACILITIES
SHALL BE OCCUPIED BY LOWER INCOME HOUSEHOLDS.

(5) LOWER INCOME HOUSEHOLDS OCCUPYING

PARTNERSHIP RENTAL HOUSING SHALL CONTRIBUTE SERVICES TO ENHANCE
AND MAINTAIN THE PROPERTY OR COMMUNITY IN A MANNER DEEMED
ACCEPTABLE TO THE LOCAL GOVERNMENT.

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