Md. Code Regs. 05.12.01.02

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

Section 05.12.01.02 - Objectives

The objectives of the Maryland HOME Program are to:

A. Finance affordable housing in conjunction with the housing loan programs administered by the Department by awarding funds to local governments, nonprofit sponsors and developers, and for-profit sponsors and developers to:

(1) Promote the development or rehabilitation of rental housing for income eligible households,

(2) Promote homeownership opportunities for income eligible households,

(3) Facilitate nonprofit ownership of group housing for income eligible persons with special needs,

(4) Provide rehabilitation assistance to owners of one-to-four unit properties, and

(5) Provide assistance to facilitate the ability of senior citizens to remain in their housing;

B. Finance programs, projects, and activities that fill a need not met by the Department's housing programs, but that promote the development and rehabilitation of housing for homeowners, renters, and special populations; and

C. Provide grants to nonprofit sponsors, developers, local governments, State agencies, and homeowners for certain eligible activities.

Md. Code Regs. 05.12.01.02

Regulation .02 amended effective 41:25 Md. R. 1476, eff.12/22/2014