clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 2007
Volume 803, Page 3762   View pdf image
 Jump to  
   << PREVIOUS  NEXT >>
clear space clear space clear space white space
Ch. 578
2007 Laws of Maryland
                     (2) THE MAYOR AND CITY COUNCIL OF BALTIORE CITY MAY PROVIDE, BY LAW, FOR THE FOLLOWING PROVISIONS RELATING TO THE TAX CREDIT AUTHORIZED UNDER PARAGRAPH (1) OF THIS SUBSECTION:                                  (I) ELIGIBILITY CRITERIA FOR THE TAX CREDIT;                                 (II) THE AMOUNT AND DURATION OF THE TAX CREDIT;                                 (III) REGULATIONS AND PROCEDURES FOR THE APPLICATION AND UNIFORM PROCESSING OF REQUESTS FOR THE TAX CREDIT; AND                               (IV) ANY OTHER PROVISIONS NECESSARY TO CARRY OUT THE CREDIT AUTHORIZED BY THIS SUBSECTION.
7-504.1. (A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED. (2) "AFFORDABLE RENT" MEANS RENT THAT DOES NOT EXCEED
30% OF A HOUSEHOLD'S INCOME. (3) "AREA MEDIAN INCOME" MEANS THE MEDIAN HOUSEHOLD
INCOME FOR AN AREA ADJUSTED FOR HOUSEHOLD SIZE AS PUBLISHED AND
ANNUALLY UPDATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT. (4) "QUALIFYING DEVELOPMENT'' MEANS: (I) A REDEVELOPMENT PROJECT OF 30 OR MORE
RESIDENTIAL RENTAL UNITS THAT WILL SET ASIDE 10% OR MORE OF THE
DEVELOPMENT'S TOTAL UNITS TO BE RENTED AT AN AFFORDABLE RENT TO A
HOUSEHOLD EARNING NOT MORE THAN 60% OF THE AREA MEDIAN INCOME; OR (II) A NEW RESIDENTIAL RENTAL DEVELOPMENT PROJECT THAT: 1. IS NEW CONSTRUCTION OR IS A CONVERSION OF A
NONRESIDENTIAL STRUCTURE THAT WILL PROVIDE 30 OR MORE UNITS OF
HOUSING;
- 3762 -


  		clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 2007
Volume 803, Page 3762   View pdf image
 Jump to  
   << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.

Tell Us What You Think About the Maryland State Archives Website!

An Archives of Maryland electronic publication.
For information contact msa.helpdesk@maryland.gov.

©Copyright  August 17, 2024
Maryland State Archives