The basic objectives of the program are to provide:

1. A. Construction-only financing to sponsors to acquire, construct, or rehabilitate adequate, safe, and sanitary single family and rental properties for occupancy by families of limited income, when permanent financing is assured;
2. B. Financing to sponsors for preconstruction costs for the development of housing for occupancy by families of limited income, to eligible properties where construction and permanent financing is assured; and
3. C. Land bank financing to local governments for the acquisition of land or interests in land to be held for future development of housing for occupancy by families of limited income.

Authority: Housing and Community Development Article, §§4-225 and 4-226, Annotated Code of Maryland;
Executive Order 01.01.1992.27C

Effective date: February 20, 1989 (16:3 Md. R. 340)

Regulation .02A, B amended effective April 15, 1991 (18:7 Md. R. 771)

Regulation .03B amended effective April 15, 1991 (18:7 Md. R. 771); November 29, 1999 (26:24 Md. R. 1856)

Regulation .04A, B amended effective April 15, 1991 (18:7 Md. R. 771)

Regulation .05F adopted effective January 2, 1994 (20:25 Md. R. 1942)

Regulation .05F amended effective April 5, 1999 (26:7 Md. R. 538)

Regulation .06J amended effective November 29, 1999 (26:24 Md. R. 1856)

Regulation .08A amended effective January 2, 1994 (20:25 Md. R. 1942)

Regulation .09 amended effective March 16, 2015 (42:5 Md. R. 485)