Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 05. Department of Housing & Community Development |
Subtitle 04. SPECIAL LOAN PROGRAMS |
Chapter 05.04.11. Special Housing Opportunities Program |
Sec. 05.04.11.01. General
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A. Authority. These regulations are adopted under the provisions of the Community Development Administration Act, Housing and Community Development Article, Title 4, Subtitle 2, Annotated Code of Maryland.
B. Purpose. These regulations are intended to promote the purposes of the Act, Housing and Community Development Article, Title 4, Subtitle 2, Annotated Code of Maryland, by implementing, interpreting, making specific, and otherwise carrying out the provisions of the Act within their scope. In particular, they are intended to provide basic information to nonprofit sponsors of special housing facilities which provide shelter and services to individuals with physical or mental impairments and special housing needs.
C. Scope.
(1) These regulations apply to the program of insured or guaranteed loans made or purchased by the Administration with the proceeds of revenue bonds as authorized by , Housing and Community Development Article, §§4-227 and 4-245(a), Annotated Code of Maryland. Loans made or purchased under these regulations shall be made or purchased to finance special housing facilities undertaken by nonprofit organizations to house special needs populations.
(2) Loans made from the proceeds of revenue bonds for special housing facilities which provide shelter and services for individuals with special housing needs will be financed ordinarily under these regulations. The Department also makes loans for individuals with special housing needs under the State-funded group home program set forth at COMAR 05.04.09. Other projects financed with the proceeds of revenue bonds which provide multifamily rental housing are financed under COMAR 05.05.02 or 05.04.10.