To qualify for a Program loan, a group home sponsor shall own and operate a group home and be:
(1) a nonprofit organization;
(2) an individual; or
(3) a limited partnership if:
(i) 1. each general partner qualifies as a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and
(iii) a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 4 - Division of Development Finance
Subtitle 6 - Group Home Financing Program
Section 4-603 - Purpose of Program
Section 4-604 - Powers of Department
Section 4-605 - Duties of Department
Section 4-607 - Group Home Sponsor
Section 4-608 - Operation of Program
Section 4-609 - Review Process of Loan Applications