Md. Code Regs. 05.05.01.09

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

Section 05.05.01.09 - Sponsor's Equity Contribution

A. For income-restricted projects, the Department may establish requirements for the amount of equity a sponsor must contribute to a project which may vary for different types of sponsors, including nonprofit sponsors.

B. Sponsors of office and other commercial space conversion projects shall make an equity contribution of at least 10 percent of the residential development costs of the project.

Regulations .09 adopted effective March 4, 1991 (18:4 Md. R. 446)
Regulation .09E amended effective January 2, 1994 (20:25 Md. R. 1942)
Regulations .09 Rental Multifamily Rental Financing Program adopted effective March 13, 2006 (33:5 Md. R. 518)