Md. Code Regs. 05.04.06.03

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

Section 05.04.06.03 - Eligible Borrowers and Grantees

A. Requirements for Loans and Grants. In order to be eligible for a loan or grant, an applicant shall meet the following requirements:

(1) Hold title to the property in fee simple or under a perpetually renewable lease;

(2) If an owner-occupant, reside, or intend to reside, in the building where the lead hazard reduction activity will take place;

(3) If an owner-landlord, meet the following requirements, which shall be met individually and together by all applicants if there is more than one applicant:

(a) If the business entity, be in good standing and qualified to do business in Maryland,

(b) Have the legal capacity, and all necessary legal and corporate authorizations, to incur the obligations of the loan or grant,

(c) Agree to abide by the nondiscrimination and alcohol-free and drug-free workplace requirements described in Regulation .18 of this chapter,

(d) Provide satisfactory assurance that, during the 12 months before making application for a loan or grant under this chapter, the borrower did not cause a residential tenant to leave the building to be abated, except upon good cause, and

(e) Agree in writing to assist with the relocation of tenants to the extent required by the Department; and

(4) Not have been suspended or debarred from the Department's programs under any action under COMAR 05.01.05.

B. Requirements for Loans.

(1) In order to be eligible for a loan, an applicant shall:

(a) Meet the requirements of §A of this regulation; and

(b) Demonstrate creditworthiness and repayment ability to the satisfaction of the Department.

(2) If the loan is required to be secured, then all persons or entities having an ownership interest in the property shall be willing to execute documents evidencing a security interest in the property.

Md. Code Regs. 05.04.06.03

Regulations .03 adopted as an emergency provision effective August 28, 1986 (13:20 Md. R. 2197); emergency status extended at 14:2 Md. R. 123; emergency status expired March 1, 1987
Regulations .03 adopted effective March 1, 1987 (14:4 Md. R. 414)
Regulations .03 adopted effective October 12, 1992 (19:20 Md. R. 1813)
Regulation .03B amended effective April 12, 1993 (20:7 Md. R. 640)
Regulations .03, Residential Lead Paint Abatement Program, repealed and new Regulations .03, Lead Hazard Reduction Grant and Loan Program, adopted effective February 24, 1997 (24:4 Md. R. 290)
Regulation .03 amended effective April 16, 2001 (28:7 Md. R. 688)