(a) In addition to the powers listed elsewhere in this Division II and any powers given by local law, the Baltimore Authority within its area of operation may:
- (1) make mortgage loans;
- (2) make rent subsidy payments to or for persons of eligible income;
- (3) make construction loans and long-term mortgage loans to any person to produce housing for persons of eligible income; and
- (4) purchase and insure mortgages secured by housing for persons of eligible income.
- (b) Not more than 80% of the residents of a housing project may have incomes above the levels for persons of eligible income.
- (c) The listing of powers in this section does not imply that the exercise of those powers by the Baltimore Authority before July 1, 1990, was unauthorized.
- (d) The power of the Baltimore Authority to rent housing to persons of eligible income is not limited by § 12-402 of this article.
Added by Acts 2006, c. 63, § 2, eff. Oct. 1, 2006.