The purposes of the Program are to:
(1) stimulate the production and preservation of rental housing;
(2) increase and improve the supply of decent, safe, and sanitary rental housing at costs that are affordable to households of limited income;
(3) use available resources efficiently to serve the households that are in need of quality affordable housing opportunities, including families, the elderly, and persons with disabilities or special needs;
(4) support economic growth and activity by financing, in whole or in part, the construction or substantial rehabilitation of rental housing projects; and
(5) revitalize sustainable communities, as defined in § 6–301 of this article, through office or other commercial space conversion.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 4 - Division of Development Finance
Subtitle 4 - Rental Housing Program
Section 4-402 - Program Established
Section 4-404 - Duties of Department and Secretary
Section 4-405 - Funding Requests
Section 4-407 - Qualifying Projects
Section 4-408 - Review of Application for Program Loans