Md. Code Regs. 05.03.02.18

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.03.02.18 - Project Development-Project Application Process

A. Approval of a project shall be initiated by submission of an application on forms prescribed by the Administration.

B. Preliminary Application. Developers may submit the following items for preliminary eligibility review by the Administration:

(1) Completed application form;

(2) Location map;

(3) Construction and sales schedule;

(4) Cost breakdown for the project;

(5) Marketing plan; and

(6) Sufficient information and documentation to determine the extent, if any, to which the project will change the type of use or increase the intensity of the existing use of the land and buildings to be financed by the mortgage loans.

C. Final Applications.

(1) Final applications shall contain any information, documents, or items that the Administration requires in accordance with this section.

(2) In addition to items listed in §A of this regulation, the Administration may require an application to include the following:

(a) Appraisals satisfactory to the Administration;

(b) Certification of equal employment opportunity;

(c) Warranty certification;

(d) Subdivision and site plans;

(e) Plans and specifications for each model type to be built by the developers;

(f) Form of sales contract;

(g) Condominium or homeowners association documents, as applicable;

(h) Local government resolution of approval;

(i) Historical Trust clearance;

(j) A nonrefundable application fee in an amount as may be established by the Administration; and

(k) Other information and documentation as may be required by the Administration.

D. The developer shall submit and satisfy all requirements of the application process set forth in this regulation.

E. Factors which the Administration may consider in approving a project include, but are not limited to:

(1) Cost, unit size, type of building, quality of construction, energy efficiency, and location of the project;

(2) Geographic distribution of all projects for which mortgage loans have been or may be made available;

(3) Regional demand;

(4) The number and amount of mortgage loans requested;

(5) The incomes of the households to be served;

(6) The Administration's prior experience with the developer; and

(7) Other criteria that the Administration considers appropriate in furtherance of the public purpose of the Program.

Md. Code Regs. 05.03.02.18

Regulations .18 adopted as an emergency provision effective April 23, 1980 (7:10 Md. R. 949); adopted permanently effective September 5, 1980 (7:18 Md. R. 1737)
Regulations .18 adopted effective July 30, 1984 (11:15 Md. R. 1329)
Regulations .18 adopted effective September 30, 1991 (18:19 Md. R. 2098)
Regulation .18B amended effective January 2, 1994 (20:25 Md. R. 1941)