Md. Code Regs. 05.03.07.07

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

Section 05.03.07.07 - Eligible Uses of Program Grants and LNYW Grants

A. Program grants from the Department to the local jurisdiction shall be used solely to fund $1,000 of an LNYW grant to an eligible employee.

B. Program grants from the Department to the local jurisdiction may not be used to:

(1) Fund an LNYW grant if the eligible employee, the employer, and the local jurisdiction do not make the minimum contribution set forth in this chapter; or

(2) Fund any expenses of operating the LNYW project.

C. An LNYW grant may only be used for the downpayment and closing costs incurred in connection with purchasing an eligible residence.

D. An LNYW grant may not be used to pay costs incurred in connection with a transfer of property where the grantor remains a title holder.

Md. Code Regs. 05.03.07.07