Section 4-906 - Operation of Program; types of Program loans. - Maryland Statutes

§ 4-906. Operation of Program; types of Program loans.
 

(a)  Operation.-  

(1) The Department shall operate the Program and make Program loans. 

(2) As much as possible, the Program shall be administered: 

(i) in conjunction with federal programs assisting rehabilitation of housing, to ensure maximum use of available federal money; and 

(ii) consistently with locally approved plans or programs of concentrated neighborhood revitalization. 

(b)  Multifamily and special programs.-  

(1) The Multifamily Rehabilitation Program consists of: 

(i) Program loans made to rehabilitate or acquire and rehabilitate buildings providing more than four dwellings or serving nonresidential needs; and 

(ii) Program loans to nonprofit sponsors under § 4-929 of this subtitle. 

(2) Except for Program loans made under a special loan program, the Regular Rehabilitation Program consists of Program loans to rehabilitate residential buildings providing four or fewer dwellings. 

(3) The Special Rehabilitation Program consists of Program loans made under a special loan program. 
 

[An. Code 1957, art. 83B, §§ 2-302(t), 2-303(a), (b), (k), (l); 2005, ch. 26, § 2; ch. 561, § 2; 2006, ch. 118, § 2.]