reglab/statecodes huggingface dataset:
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.04 - Eligible Borrower

Current through Register Vol. 51, No. 14, July 12, 2024
A. A borrower shall establish to the satisfaction of the Fund the capacity to meet the financial obligations of the loan.
B. A borrower shall have maintained a credit standing and history of financial management that is acceptable to the Fund.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.05 - Mortgage Loan

Current through Register Vol. 51, No. 14, July 12, 2024
A. A mortgage loan shall be secured by a lien against the mortgaged property.
B. Real property securing a loan shall meet the requirements of the Fund.
C. An escrow account for payment of taxes, insurance, homeowner association fees, condominium fees, or other customary expenses related to a mortgage loan, as applicable, shall be satisfactory to the Fund.
D. A mortgage may not exceed a term of 40 years unless the Secretary, by written determination for a particular loan or category of loans, agrees to a term exceeding 40 years.
E. A mortgage shall bear interest at the rate agreed on by the lender and the borrower, and committed to by the Fund.
F. A mortgage shall conform to the required documentation and eligibility criteria required by the Fund.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.06 - Eligible Lenders

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Department, or any agency of the Department, is an eligible lender approved for mortgage insurance issued by the Fund.
B. All other lenders shall meet the eligibility requirements of §C or D of this regulation in order to be approved for mortgage insurance issued by the Fund.
C. The Fund may approve a mortgage lender that is authorized to conduct business in Maryland and that executes a certification that it is:
(1) A financial institution that has accounts insured by any agency of the United States;
(2) An institutional lender approved under a federal mortgage loan insurance agency; or
(3) Any FNMA or FHLMC approved institutional conventional seller.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.07 - Mortgage Insurance

Current through Register Vol. 51, No. 14, July 12, 2024
A. Application. If required by the Fund, a lender shall submit an application, in the form prescribed by the Fund, which shall contain a complete credit package and any other documentation required by the Fund. If documentation is incomplete, the credit evaluation may be delayed and may result in the rejection of the application.
B. Underwriting and Appraisal. An application for mortgage insurance received from an approved lender may be subject to underwriting and appraisal review in accordance with the requirements of the Fund.
C. Scope of Insurance Coverage.
(1) Mortgage insurance coverage is limited to economic loss due to a monetary default and does not include loss due to casualty or title risk.
(2) Expenses incurred for property repair resulting from casualty loss, including losses due to negligence, flood, fire, termites, vandalism, and defective construction, are not eligible for coverage.
(3) Expenses incurred by the lender in the preservation and normal maintenance of an insured property may be covered in accordance with the terms and conditions of the applicable insurance policy governing the insured mortgage.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.08 - Premiums and Types of Coverage

Current through Register Vol. 51, No. 14, July 12, 2024
A. Premiums for mortgage insurance shall be determined by the Fund from time to time for various programs and types of mortgage insurance.
B. Premiums may be set at different levels for different categories of loans and loan programs depending on the risk factors, which may include the:
(1) Depth of insurance coverage;
(2) Length of mortgage term;
(3) Financial capability of the borrower;
(4) Credit rating of the borrower; and
(5) Condition of property securing loan.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.09 - Default Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. The insured lender shall follow the procedures contained in the mortgage insurance policy upon default of an insured mortgage.
B. Mortgage Assignment. The Fund may require a lender at any time to assign a delinquent mortgage to the Fund and file a claim in the full amount of the insurance.
C. The right of the Fund to pursue a borrower for deficiency or loss exists in every case to the extent allowed by law and may be enforced at the discretion of the Fund.
D. The Fund may refuse payment of a claim on the basis of fraud, misrepresentation, or material error or omission with respect to any claim.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.08 - General Reserve Insurance › Section 05.06.08.10 - General Provisions

Current through Register Vol. 51, No. 14, July 12, 2024
A. Waiver. The Secretary may waive or vary particular provisions of this chapter to the extent that the waiver is not inconsistent with the Act or with agreements to which the Fund may be subject if:
(1) Conformance to the requirements of any federal, State, or local program in connection with a loan necessitates a waiver or variance of a regulation; or
(2) In the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
These regulations set forth the policies, procedures, and authorization for issuance of loan insurance and credit enhancement under the business reserve established in COMAR 05.06.01.04A and 05.06.06.04A.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Act" means Housing and Community Development Article, Title 3, Subtitle 2, Annotated Code of Maryland, as amended.
(2) Business Project.
(a) "Business project" means a project located in an area designated as a priority funding area under §
											5-7B-02 of the State Finance and Procurement Article.
(b) "Business project" means a project that is:
(i) Acquired, owned, developed, constructed, reconstructed, rehabilitated, or improved by a person or an entity for the purposes of carrying on a business whether or not for profit; or
(ii) Eligible for funding from the Neighborhood Business Development Fund under Housing and Community Development Article, §
												6-310, Annotated Code of Maryland.
(3) "Department" means the Department of Housing and Community Development.
(4) "Fund" means the Maryland Housing Fund, and, when appropriate, its authorized officers or personnel.
(5) Mortgage.
(a) "Mortgage" means a written instrument evidencing or creating a lien against real property to provide collateral to secure the repayment of a debt.
(b) "Mortgage " includes a deed of trust.
(6) Nonprofit Entity.
(a) "Nonprofit entity" means any organization exempt from taxation under the Internal Revenue Code of the United States, 26 U.S.C. §
												501(c).
(b) "Nonprofit entity" includes local development agencies and local development corporations, as defined in Housing and Community Development Article, §
											4-201, Annotated Code of Maryland, and organizations exempt by reason of a charitable or public purpose.
(c) "Nonprofit entity" does not include limited dividend corporations or partnerships.
(7) "Secretary" means the Secretary of Housing and Community Development or the Secretary's designee.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.03 - Eligible Property

Current through Register Vol. 51, No. 14, July 12, 2024
A. Real properly financed by loans insured by the Fund shall:
(1) Have clear and merchantable title acceptable to the Fund;
(2) Conform to all applicable federal, State, and local building, zoning, environmental, health, and housing codes;
(3) Be insured with hazard insurance issued by a company that is approved by the State Insurance Commissioner and, when applicable, flood insurance;
(4) Have an appraised value that is satisfactory to the Fund;
(5) Be secured by a lien against the mortgaged property or other collateral acceptable to the Fund; and
(6) Meet any other standards of the Fund.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.04 - Eligible Borrower

Current through Register Vol. 51, No. 14, July 12, 2024
A. A borrower may be an individual, partnership, or any other type of legal entity.
B. A borrower shall establish, to the satisfaction of the Fund, the capacity to meet the financial obligations of the loan.
C. A borrower shall have maintained a credit standing and history of financial management that is acceptable to the Fund.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.05 - Eligible Lenders

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Department, or any agency of the Department, is an eligible lender approved for insurance issued by the Fund under this chapter.
B. All other lenders shall meet the eligibility requirements of §C or D of this regulation in order to be approved for insurance issued by the Fund.
C. The Fund may approve a lender that is authorized to conduct business in Maryland and that executes a certification that it is:
(1) A financial institution that has accounts insured by any agency of the United States; or
(2) An institutional lender approved under a federal mortgage or business loan insurance agency.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.06 - Insurance

Current through Register Vol. 51, No. 14, July 12, 2024
A. Application. A lender shall submit an application, in the form prescribed by the Fund, which shall contain a complete credit package and any other documentation required by the Fund.
B. Underwriting and Appraisal. An application for insurance received from an approved lender may be subject to underwriting and appraisal review in accordance with the requirements of the Fund.
C. Scope of Insurance Coverage.
(1) Insurance coverage is limited to economic loss due to a monetary default and does not include loss due to casualty or title risk.
(2) Expenses incurred for property repair or replacement resulting from casualty loss, including losses due to negligence, flood, fire, termites, vandalism, theft, and defective construction, are not eligible for coverage.
(3) Expenses incurred by the lender in the preservation and normal maintenance of an insured property may be covered in accordance with the terms and conditions of the applicable insurance policy governing the insured loan.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.07 - Premiums

Current through Register Vol. 51, No. 14, July 12, 2024
A. Premiums for insurance shall be determined by the Fund from time to time for various programs and types of insurance.
B. Premiums may be set at different levels for different categories of loans and loan programs depending on the risk factors, which may include the:
(1) Depth of insurance coverage;
(2) Length of loan term;
(3) Financial capability of the borrower;
(4) Credit rating of the borrower; and
(5) Condition and type of collateral securing loan.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.08 - Default Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. The insured lender shall follow the procedures contained in the insurance policy or agreement upon default of an insured mortgage.
B. The Fund may require a lender at any time to assign a delinquent loan to the Fund and file a claim in the full amount of the insurance.
C. The right of the Fund to pursue a borrower for deficiency or loss exists in every case to the extent allowed by law and may be enforced at the discretion of the Fund.
D. The Fund may refuse payment of a claim on the basis of fraud, misrepresentation, or material error or omission with respect to any claim.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 06 - HOUSING INSURANCE › Chapter 05.06.09 - Business Reserve Insurance › Section 05.06.09.09 - General Provisions

Current through Register Vol. 51, No. 14, July 12, 2024
A. Waiver. The Secretary may waive or vary particular provisions of this chapter to the extent that the waiver is not inconsistent with the Act or with agreements to which the Fund may be subject if:
(1) Conformance to the requirements of any federal, State, or local program in connection with a loan necessitates a waiver or variance of a regulation; or
(2) In the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
These regulations prescribe the policies, procedures, and authorizations for a program for financing or refinancing the acquisition, construction, and rehabilitation of local government infrastructure.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.02 - Objective

Current through Register Vol. 51, No. 14, July 12, 2024
A. The objective of the program is to provide an accessible and uncomplicated mechanism for local governments to secure financing or refinancing for the acquisition, construction, and rehabilitation of public infrastructure projects, including streets, bridges, buildings, utility systems, and other structures and facilities used for providing public services.
B. Any financing or refinancing under the Program may be backed by the full faith and credit of the local government or the pledge of specifically identified revenues.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.04 - Eligible Participants

Current through Register Vol. 51, No. 14, July 12, 2024
A local government is eligible to participate in the program provided it:
A. Possesses the legal capacity and all necessary legal authority to incur the obligations of the loan;
B. Submits an application to the Department which identifies how the local government will construct, operate, and maintain the project;
C. Is eligible to receive State payments in amounts satisfactory to the Administration, taking into consideration the amount of the loan;
D. Needs to finance or refinance the acquisition, construction, or rehabilitation of a project; and
E. Is acceptable to any entity which may be engaged to enhance the credit for a bond financing.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.05 - Eligible Projects

Current through Register Vol. 51, No. 14, July 12, 2024
A. A project shall provide one or more of the physical elements which are the basis of a public service system. Eligible projects include, but are not limited to:
(1) Water production, treatment, storage, and distribution systems;
(2) Sewer collection and treatment facilities;
(3) Solid waste transfer, conversion, and disposal facilities;
(4) Storm water control and drainage facilities;
(5) Bulkheads, piers, wharfs, and ramps;
(6) Bridges, streets, and roads;
(7) Facilities for police, fire, transportation, education, health and recreation, library and cultural facilities, and facilities for the delivery of other public services;
(8) Street lighting, landscaping, and other public space improvements;
(9) Sidewalks, curbs, and gutters;
(10) Governmental office, storage, and maintenance facilities;
(11) Acquisition of machinery and equipment for any of the projects described in this section.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.06 - Eligible Uses and Costs

Current through Register Vol. 51, No. 14, July 12, 2024
A. Proceeds of loans may be used to finance the costs associated with the planning, development, acquisition, construction, reconstruction, rehabilitation, or improvement of a project, including, without limitation, the following:
(1) Costs of appraisals and other necessary studies, including compaction tests, soil borings, market analysis studies, and construction cost estimates;
(2) Architectural and engineering costs for design and supervision;
(3) Acquisition of land and improvements, and site preparation;
(4) Costs of bonds, permits, and fees;
(5) Indemnity and surety bonds;
(6) Carrying costs during construction including construction interest, real estate taxes, and property insurance;
(7) Financing fees and charges imposed by the Administration;
(8) Legal, processing, packaging, and marketing fees and charges;
(9) The costs of surveys, title examinations, and title insurance; and
(10) Other costs authorized by Housing and Community Development Article, §
										4-201(e), Annotated Code of Maryland, and acceptable to the Administration.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.07 - Loan Terms, Limits, and Requirements

Current through Register Vol. 51, No. 14, July 12, 2024
A. Interest Rate.
(1) The Administration shall establish or determine an interest rate or rates for the loans and corresponding local obligations, and other charges and fees, if any, that together with other moneys made available for those purposes, are sufficient to meet the interest payable by the Administration for its revenue bonds, notes, or other obligations financing the loans, and, in the discretion of the Administration, the administrative expenses of the Program.
(2) The interest rate or rates on loans may not exceed the maximum permitted by §103 of the Code.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.08 - Application and Processing Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. Applications for participation may be accepted on a continuing basis by the Administration.
B. The form of the application shall be prescribed by the Administration and shall include all supporting documentation specified in the application, which may include:
(1) A narrative describing the local government and any special recognition accorded it by other levels of government or by professional organizations;
(2) A copy of the charter and other organizational materials;
(3) Detailed information about the project;
(4) Biographies of key officials;
(5) Demographic, geographical, assessment, tax, building, and similar data;
(6) Audited annual financial statements;
(7) Current operating and capital budgets;
(8) Multiyear capital improvement program;
(9) Schedule of existing debt service payments;
(10) Employee and pension information;
(11) Anticipated borrowing plans;
(12) Investment policy;
(13) If the local government will be issuing a local obligation in connection with a financing or refinancing under the Program, a copy of the local government's debt affordability policy, together with a resolution adopted by the governing body of the local government that the financing or refinancing conforms to the policy and is prudent under all of the circumstances; and
(14) A certificate that the local government has determined that the project is consistent with the local comprehensive plan or warranted by extraordinary circumstances with no reasonably feasible alternative, as required under State Finance and Procurement Article, § 5-7 A-02(b), Annotated Code of Maryland.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.09 - Loan Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. Loan Closing. Upon meeting all of the conditions stipulated for approval and the prerequisites to loan disbursement or settlement, the Administration's counsel shall prepare the required legal documents for closing prescribed by the Administration. The documents shall be forwarded to the local government. When all procedures and requirements are completed, and the bonds, notes, or other obligations of the Administration funding the loan have been issued, a closing shall be arranged by counsel to the Administration.
B. Disbursement. The Administration shall disburse the proceeds of the loan upon receipt of a requisition from the local government and approved by the Administration. Each requisition shall include an itemization of the costs for which the local government requests payment, which shall be costs eligible under these regulations as determined by the Administration.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.10 - Fees; Program Guidelines

Current through Register Vol. 51, No. 14, July 12, 2024
A. Amounts and time of payment of any fees as may be required by the Administration shall be as provided in a fee schedule set forth and revised from time to time by the Administration.
B. The Administration may establish from time to time detailed program guidelines containing underwriting standards, loan processing requirements, and other requirements or matters relating to the financing of loans or to the Program.
C. Copies of the fee schedule and guidelines shall be available for examination at the Administration's principal office. The Administration, upon request, shall make copies available to the public.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.11 - Books and Accounts

Current through Register Vol. 51, No. 14, July 12, 2024
A. Local governments shall maintain such books, accounts, and records, and shall file with the Administration such financial and other reports as the Administration may from time to time require. All of these books, accounts, and records shall be open to the inspection of representatives of the Administration, or other agencies of the State during reasonable working hours.
B. Books, accounts, and records of the local government shall be maintained and made available for inspection for 3 years past the date of termination of the contractual relationship between the local government and the Administration.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.12 - Monitoring

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Administration shall pay the proceeds of the loan to the local government based upon a schedule of draws acceptable to the Administration.
B. The local government shall be solely responsible for:
(1) Ensuring the adequacy and sufficiency of the design and construction of the project and for supervising the invoicing for and timeliness of the draws. The local government shall submit periodic construction status reports together with its requisitions for draws in a form satisfactory to the Administration.
(2) Operating, maintaining, and managing the project, notwithstanding whether the project is managed under an operating agreement with a third party. Administration staff from time to time may conduct an inspection, announced or unannounced, to ascertain the status of the construction or operation of the project.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.13 - Issuance of Indentures and Notes

Current through Register Vol. 51, No. 14, July 12, 2024
A. Timing. The Administration may obtain funds for loans to finance projects from any source authorized by law, and in particular may issue bonds, notes, or other obligations pursuant to an indenture payable from payments on the loans. The timing of any bond or note sale and the acceptability of the interest rate to be paid by the Administration are solely within the discretion of the Secretary.
B. Rights of Bond and Note Holders. In the event of any conflict, whether or not expressly so stated, the rights of local governments under any loan, corresponding local obligation or accompanying agreement with the Administration, which loan is financed by bonds, notes, or other obligations issued pursuant to an indenture, are subject to the rights of the holders of the Administration's bonds, notes, or other obligations issued under that indenture.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.14 - Minority Contracting

Current through Register Vol. 51, No. 14, July 12, 2024
The local government shall ensure compliance with the Department's Minority Business Enterprise Program or with the local government's own program, not substantially dissimilar from the Department's program for including minority contractors in the construction of the project.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.15 - Nondiscrimination; Drug and Alcohol Free Workplace

Current through Register Vol. 51, No. 14, July 12, 2024
A. A local government may not discriminate on the basis of race, color, religion, national origin, sex, marital status, physical or mental disability, sexual orientation, or age, except with regard to age as permitted under the federal Housing for Older Persons Act, as amended from time to time, or other similar federal laws, in any aspect of the Program, or in any aspect of employment by any local government in the construction, repair, or maintenance of any property financed or assisted under the Program.
B. Each local government shall comply with all applicable federal, State, and local laws and Department policies and programs regarding discrimination and equal opportunity in employment, housing, and credit practices, and drug and alcohol free workplaces, including:
(1) Titles VI and VII of the Civil Rights Act of 1964, as amended;
(2) Title VIII of the Civil Rights Act of 1968, as amended;
(3) The Fair Housing Amendments Act of 1988, as amended;
(4) The Department's Minority Business Enterprise Program, as amended;
(5) The Americans with Disabilities Act of 1990, as amended;
(6) State Government Article, Title 20, Annotated Code of Maryland, as amended; and
(7) Executive Order 01.01.1989.18, Drug and Alcohol Free Workplace, and any Department or State regulations adopted or to be adopted to carry out the requirements of that Order.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.16 - False Statements

Current through Register Vol. 51, No. 14, July 12, 2024
A local government which knowingly makes or causes to be made a false statement or report may be subject to exclusion from the Program and to immediate acceleration of the loan, and its officials shall be subject to the criminal penalties authorized by Housing and Community Development Article, §
									4-255, Annotated Code of Maryland, as amended.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.17 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary particular provisions of these regulations to the extent that the waiver is not inconsistent with the Act or contrary to the provisions of any applicable indenture if:
A. Adherence to the requirements of any federal, State, or local program used in connection with a project necessitates waiver or variance of a regulation; or
B. In the determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.18 - Delegation

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may delegate to the Director of the Administration, the Director of the Program, or to any other official or employee of the Department or Administration the authority to execute or approve any Program documents or loan documents, including loan commitments.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 09 - INFRASTRUCTURE PROGRAMS › Chapter 05.09.01 - Local Government Infrastructure Financing Program › Section 05.09.01.19 - Severability

Current through Register Vol. 51, No. 14, July 12, 2024
The provisions of these regulations are severable. A judgment by any court of competent jurisdiction finding or declaring that any provisions of these regulations or the application of any provision to any person or circumstance is invalid does not affect the validity of the remaining provisions of the regulations or any other application of these regulations, and the remaining regulations shall have full force and effect as if no judgment had been entered.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.01 - Purpose and Definitions › Section 05.10.01.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
A. These regulations are intended to supplement and clarify the provisions of the Assisted Housing Preservation Act, Housing and Community Development Article, Title 7, Annotated Code of Maryland. These regulations should be read in conjunction with the Act.
B. These regulations include the standards for granting, and procedures for requesting, exemptions from certain otherwise applicable requirements of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.02 - Exemptions › Section 05.10.02.01 - Federal Preemption

Current through Register Vol. 51, No. 14, July 12, 2024
A. These regulations and the Act shall be read in conjunction with the federal Low Income Housing Preservation and Resident Homeownership Act of 1990, 12 U.S.C. §§
										4101- 4125 ("LIHPRHA"). To the extent that § 232(a)(1) of LIHPRHA, 12 U.S.C. §
										4122(a)(1), expressly preempts certain portions of the Act, actions subject to LIHPRHA are exempt from the Act.
B. If a protected action is subject to LIHPRHA and, as required by § 232(a)(1) of LIHPRHA, 12 U.S.C. §
										4122(a)(1), is exempt from the Act, the owner shall give written notice to the Secretary of the steps the owner has taken to comply with LIHPRHA.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.02 - Exemptions › Section 05.10.02.02 - Authorized Exemptions

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary, by written determination, may grant exemptions from the following requirements:
A. The right of first purchase under §§7-204 -7-211 of the Act;
B. Tenant relocation assistance under §7-212(b)(1) and (2) of the Act;
C. One-year lease extensions under §7-212(b)(3) of the Act; and
D. Designated household assistance of 3-year lease extensions and additional relocation assistance for certain households under §§7-214 -7-219 of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.02 - Exemptions › Section 05.10.02.03 - Standards for Exemptions

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Secretary may grant exemptions under Regulation .02 of this chapter to:
(1) Diminish the burdens on a project owner of complying with similar requirements in federal law and in the Act when compliance with both sets of requirements would not provide any appreciable benefit to assisted tenants beyond compliance with the federal law; or
(2) Prevent the inconsistent or inequitable application of federal law and the Act to a property owner, when compliance with both sets of requirements would:
(a) Be impossible due to conflicts between the requirements;
(b) Impose inequitably duplicative high costs or burdens on the property owner; or
(c) Otherwise result in an unreasonable application of the requirements or procedures of the Act on the property owner considering full compliance with federal law.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.02 - Exemptions › Section 05.10.02.04 - Exemption Application Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. Requests for secretarial exemptions under this regulation shall include:
(1) A letter requesting the exemption and outlining the reasons why the property owner believes the exemption is appropriate under the Act and these regulations;
(2) A description of the nature of the proposed protected action;
(3) A list of the federal program or programs which govern the federally-assisted mortgage;
(4) A description of any federal project-based assistance;
(5) A description of any other state, local government, or other assistance to the project;
(6) Copies of the notices of intent given under § 7201 of the Act, and copies of all other notices delivered in connection with the proposed protected action, including notices to or required by HUD or other federal regulatory agencies, and any notices in connection with any state or local proceedings concerning the assisted households' leases at the project;
(7) A statement as to the expected impact of the proposed protected action on rents and the continued occupancy by existing assisted households for 3 years following the date of the protected action;
(8) Data which shows the number of:
(a) Assisted households;
(b) Assisted households with senior citizens and handicapped persons; and
(c) Assisted households with minors;
(9) An explanation of any provisions planned or previously given to provide assisted households with adequate alternative housing or other assistance, including any federal rental assistance;
(10) The timetable anticipated for taking any protected action;
(11) The anticipated dates on which the protected action would result in dispossession of any assisted households at the project;
(12) A statement certifying that the owner has not taken any of the following actions, or any other action before the date of the protected action in order to avoid the owner's obligations in conjunction with the protected action:
(a) Termination without cause of the lease of any tenant occupying an assisted unit;
(b) Alteration of any of the terms and conditions of executed leases of existing tenants;
(c) Interference with any existing rights of tenants to occupy their units in the assisted project under existing leases or under any applicable federal, state, or local law;
(d) Interference with the efforts of individual tenants to obtain housing subsidies or other public assistance; or
(e) Discrimination in the leasing of units in the project based on source of income or receipt of rent subsidies provided by governmental or other sources; and
(13) Other supporting documentation required by the Director.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.02 - Exemptions › Section 05.10.02.05 - Review and Determination of Exemption Requests

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Director or the Director's designee shall review each request to determine if the request conforms to the standards for exemption. When reviewing the request, the Director or the Director's designee shall consider the factors set forth in Regulation .03B of this chapter and any other information made available to the Director or the Director's designee concerning the impact of the protected action on the property owner and the assisted households.
B. Upon completion of the review, the Director shall make a recommendation to the Secretary for approval or disapproval of the request for exemption. Upon approval or disapproval of the request for exemption by the Secretary, a notification of the Secretary's determination shall be sent to the owner. The notification shall be issued within 30 days of receipt of the request for exemption and any required supplemental documentation.
C. The determination by the Secretary or a redetermination of any decision to grant or not to grant an exemption from any requirements of the Act is not a contested case within the meaning of the Administrative Procedure Act or COMAR 05.01.01.02C.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.03 - Notice of Intent to Take Protected Action › Section 05.10.03.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
A. Each property owner who takes or intends to take a protected action shall send written notices of intent that comply with the requirements of §§7-201 and 7-202 of the Act and these Regulations.
B. The purpose of providing notices of intent is to:
(1) Inform appropriate government agencies of the proposed action, and its possible impact on the tenants, and the local stock of affordable housing;
(2) Provide the Department with information to determine if the proposed action is legally permissible;
(3) Inform assisted households of the proposed actions and their rights in the event federal assistance is discontinued; and
(4) If the project is to be sold, afford other parties the opportunity to exercise a right of first purchase in accordance with §§7-204 -7-211 of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.03 - Notice of Intent to Take Protected Action › Section 05.10.03.02 - Requirement to Submit Notices to the State

Current through Register Vol. 51, No. 14, July 12, 2024
The notices of intent required under the Act and Regulations .03 and .04 of this chapter shall be submitted to the Department and the other required parties in addition to any other notification requirements imposed by the federal government. Submission of a notice to the applicable federal agency only by the owner or any other party does not constitute compliance with the Act and these Regulations.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.03 - Notice of Intent to Take Protected Action › Section 05.10.03.03 - Notice Requirements

Current through Register Vol. 51, No. 14, July 12, 2024
In addition to any requirements specified in the Act, the notice of intent to the chief executive officers, public housing authority, tenant association, and Secretary shall be sent by certified mail, return receipt requested and include the following information or material:
A. The nature of the proposed protected action;
B. A list of the federal program or programs that govern the federally-assisted mortgage or any project-based assistance;
C. For assisted projects that are subject to federally-assisted mortgages:
(1) A copy of the assisted mortgage, the secured note, and any regulatory agreement and other related mortgage documents; and
(2) A statement setting forth the:
(a) Maturity date of the mortgage;
(b) Original and current principal balance of the mortgage;
(c) Name and address of the mortgagee; and
(d) Number of assisted units regulated by the mortgage;
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.03 - Notice of Intent to Take Protected Action › Section 05.10.03.04 - Form of Notice of Intent to Assisted Households

Current through Register Vol. 51, No. 14, July 12, 2024
A. In addition to the notices of intent sent under Regulation .03 of this chapter, the owner shall send a notice of intent to each assisted household in accordance with §7-202(b) of the Act and this regulation.
B. The owner shall submit a proposed notice of intent, application for extended tenancy, and extended tenancy lease to the Director for comment and approval at least 15 days before delivery to the assisted households. The notices, applications and leases shall be in a form approved by the Department.
C. The Director shall develop and make available to an owner on request, samples of a notice of intent, application for extended tenancy, and extended tenancy lease.
D. The Director will review a notice of intent and other forms received from an owner to determine whether:
(1) The notice of intent meets the requirements of the Act and these regulations;
(2) The owner is permitted to take the protected action in accordance with these Regulations.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.03 - Notice of Intent to Take Protected Action › Section 05.10.03.05 - Notices of Intent to Tenants - Delivery

Current through Register Vol. 51, No. 14, July 12, 2024
A. The property owner shall send a notice of intent that complies with the requirements of Regulation .04 of this chapter to each assisted household by U.S. mail, postage prepaid.
B. Simultaneously with the notice of intent, the owner shall send applications for extended tenancy and extended tenant leases to all assisted households that qualify as designated households.
C. Within 5 days of sending the required notices and forms to the assisted households, the owner shall send the Department by certified mail, return receipt requested, an affidavit signed by the property owner or property manager certifying:
(1) That the notice of intent complied with the requirements of the Act and these regulations; and
(2) The names and addresses of each assisted household to whom a notice of intent was sent.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.03 - Notice of Intent to Take Protected Action › Section 05.10.03.06 - Time Frames

Current through Register Vol. 51, No. 14, July 12, 2024
The notice periods and corresponding lease extension periods may not commence until a notice of intent, which accurately and completely provides all the information required by the Act and these regulations, is served. If the notice of intent fails to provide all required information, it does not become effective until that information is provided.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 10 - ASSISTED HOUSING PRESERVATION › Chapter 05.10.04 - Owner's Offer of Right of First Purchase › Section 05.10.04.01 - Registration

Current through Register Vol. 51, No. 14, July 12, 2024
A. The following entities may register with the Secretary at any time, including after a notice of intent and owner's offer of right of first purchase have been sent to the Secretary, to receive owners' offers of first purchase by sending a written request to the Secretary:
(1) Any legally organized tenant association or other group representing any of the tenants at any assisted project;
(2) Any nonprofit developer; and
(3) Any other developer unrelated to the owner and experienced in the ownership or operation of low income housing projects.