Sec. 10-297. Administration of the Fund
Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.
Prince George's County, Md., Code § 10-297 (2026)
Sec. 10-297. Administration of the FundLinkCopy Citation
(a)
Administration. The Director of the Department of Housing and Community Development ("Director"), or his designee, shall administer the Fund according to accepted principles of sound accounting, underwriting guidelines, and fiscal management. The Director:
(1)
may utilize up to fifteen (15%) of the Fund to administer the programs funded;
(2)
shall develop criteria to designate specific target areas within the County for focus of the Fund assistance, including but not limited to:
(A)
areas identified with high rates of foreclosure, vacant or abandoned properties in the County;
(B)
percentage of low and moderate income populations;
(C)
the strength of the residential market;
(D)
proximity to a planned economic development and revitalization areas.
(3)
shall develop such criteria, rules and regulations to administer the Fund programs.
(b)
Coordination. The Director shall work with County, State and Federal agencies and departments, including the Prince George's County Redevelopment and Revenue Authority, to coordinate use of the Fund and may utilize the Fund to supplement existing County, State or Federal programs and policies that meet the goals of this Division.
(c)
Determination of accounting methods. The Director, or his designee, shall work with the Director of Finance to determine the terms of and the method and procedures for accounting for:
(1)
financial assistance from the Fund;
(2)
payments by or charges against the Fund;
(3)
repayments on accounts, subject to the terms and conditions contained in the financial assistance agreements; and
(4)
maintenance of records in accordance with generally accepted accounting principals.
(d)
The Director, or his designee, shall develop and provide established loan servicing guidelines for evaluating compliance with loan terms and conditions.
(e)
The Office of Management and Budget shall regularly review the performance of financial assistance awards and grants from the Fund for compliance with the terms and conditions negotiated by the Director.