- A. Program grants from the Department to the local jurisdiction shall be used solely to fund $1,000 of an LNYW grant to an eligible employee.
B. Program grants from the Department to the local jurisdiction may not be used to:
- (1) Fund an LNYW grant if the eligible employee, the employer, and the local jurisdiction do not make the minimum contribution set forth in this chapter; or
- (2) Fund any expenses of operating the LNYW project.
- C. An LNYW grant may only be used for the downpayment and closing costs incurred in connection with purchasing an eligible residence.
- D. An LNYW grant may not be used to pay costs incurred in connection with a transfer of property where the grantor remains a title holder.
Authority: Housing and Community Development Article, Title 4, Subtitle 2, Annotated Code of Maryland
Effective date: June 29, 1998 (25:13 Md. R. 992)