Md. Code Regs. 05.04.13.14

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

Section 05.04.13.14 - Application Procedures

A. Housing Programs Application. If the applicant is also applying for funding through a housing program described in Regulation .03B of this chapter, the applicant shall supply the information and supporting documentation specified on the application form for the housing program.

B. Application for Program Funding Only.

(1) Application Procedures in General. Applicants for Program financing in amounts less than $100,000 may apply through local administrators in accordance with procedures established by the Program. All applicants may also apply directly to the Department through the Special Loan Programs, unless an alternative procedure has been approved on a case-by-case basis.

(2) Application Forms. All loan and grant applications shall be made on standard forms described by the Department.

(3) Documentation.

(a) The applicant shall submit with the application any documentation that the Department requires.

(b) The applicant shall submit supporting documentation specified in the checklist attached to the application, including but not limited to the following:

(i) A copy of the deed to the property;

(ii) A copy of all existing mortgages or mortgage verification requests, on the form approved by the Department, signed by the applicant for each mortgage secured by the building in need of abatement or verification of income, as required by the Department;

(iii) A copy of the first page and declarations page of all policies for fire and extended coverage insurance and, if applicable, flood insurance;

(iv) A copy of the most recent paid real estate tax bill which sets forth the current assessed value of the building and the property;

(v) Evidence of a lead-based paint hazard in each project building;

(vi) Contractor's proposal outlining proposed cost and proposed lead hazard reduction activity in accordance with MDE regulations, if available;

(vii) Results of any environmental testing for the presence of lead, and biological testing of occupants for blood lead content;

(viii) Relocation plan for tenants that complies with the federal Uniform Relocation Act; and

(ix) Hazardous waste disposal plan, if applicable.

(4) The loan applicant shall submit the following additional documentation:

(a) Any documentation required by the Department to establish the eligibility and credit worthiness of the applicant;

(b) For the 3 years immediately preceding the application:

(i) Copies of federal income tax returns, or

(ii) Sufficient documentation to verify income as determined by the Program;

(c) If applicable, certified copies of the organizational documents of the owner-landlord and a certificate of good standing;

(d) Certified financial statements of the applicant and, if applicable, certified financial statements of its principals;

(e) 3 years of operating statements for the project;

(f) If applicable, resolutions of the board of directors or consents of all of the partners authorizing the application;

(g) Photographs of the building and site;

(h) Evidence of subdivision and zoning compliance.

Md. Code Regs. 05.04.13.14