Sec. 19-29. Stormwater management loan program.
Montgomery County, Md., Code § 19-29 (2026)
Sec. 19-29. Stormwater management loan program.LinkCopy Citation
(a)
The Department of Environmental Protection must create a Stormwater Management Loan Program. The Program must provide direct loans to eligible homeowners’ associations and other residential property owners to:
(1)
make structural repairs to restore a stormwater management facility to acceptable design standards before the owner petitions the County to assume responsibility for future structural maintenance of the facility under Section 19-28(d), or
(2)
cover the cost of abandoning a facility under Section 19-28(e).
(b)
The fund for the Program consists of:
(1)
all funds appropriated to the Program;
(2)
all payments on any loan from the Program;
(3)
all interest earned on funds in the Program; and
(4)
all funds received from any other public or private entity.
(c)
The County Executive must adopt regulations under method (2) to administer the Program. These regulations should include:
(1)
lending standards and priorities;
(2)
terms and conditions of loans;
(3)
application procedures;
(4)
procedures for loan applicants to request reconsideration of a decision to deny a loan or a decision on interest rates, terms, and conditions; and
(5)
collection procedures in cases of nonpayment or default.