Section 4-915 - Family of limited income. - Maryland Statutes

§ 4-915. Family of limited income.
 

(a)  Factors for setting income limits.-  

(1) The Secretary shall set upper limits on the income that a family or individual may have to qualify as a family of limited income. 

(2) In setting the limits, the Secretary shall consider factors that include: 

(i) the portion of the total family income available for housing; 

(ii) the size of the family; 

(iii) the cost and condition of available housing; 

(iv) the ability of the family to compete successfully in the private housing market; and 

(v) relevant standards and definitions established for federal and State housing programs. 

(b)  Waiver.- The Secretary may waive income limits for a borrower or occupant seeking a Program loan to rehabilitate a building that the State historical preservation officer finds historically or architecturally significant. 
 

[An. Code 1957, art. 83B, § 2-302(e); 2005, ch. 26, § 2.]