Housing and Community Development (GHS) — Title 17. Prince George's County

to an individual who is 60 years old or older and not related by blood or marriage to the provider;

for the life of the individual or for a period exceeding 1 year; and

under a written agreement that requires a transfer of assets or an entrance fee, notwithstanding periodic charges.

“Housing project” means a work or undertaking to provide decent, safe, and sanitary urban or rural apartments, or other housing for the persons of eligible income who live in the area of the housing.

“Housing project” includes buildings, land, equipment, facilities, and other real or personal property that is planned, acquired, owned, used, developed, reconstructed, rehabilitated, or improved to provide:

lives in the area of operation of the Prince George’s Authority that undertakes a housing project; and

as determined by the Prince George’s Authority, lacks sufficient income without financial assistance to live in decent, safe, and sanitary housing without overcrowding.

there are in Prince George’s County:

as a result of these conditions:

these conditions require too much public money to be spent for protection of the public health, safety, and welfare, and for other public services and facilities;

the operation of continuing care facilities absorbs costs of health, safety, and social services of the residents of those facilities while adding to the available housing stock of the county;

private enterprise alone cannot wholly meet the need to:

the construction and rehabilitation of housing, including continuing care facilities for county residents, and the acquisition and expenditure of public money to produce that housing therefore do not compete with private enterprise;

a need exists for mortgage credit to be made available for constructing new housing and rehabilitating existing housing for many buyers and owners of housing who cannot afford mortgage credit at the market interest rate or get mortgage credit because the mortgage credit market is severely restricted;

many families live in housing that is decent and safe, but is inadequate for the size of the family;

some of those families could afford to buy new housing if their existing homes could be sold to smaller families for whom the homes would be more adequate;

many potential buyers of these existing homes are first-time buyers, who find it difficult or impossible to afford newly constructed housing because they do not have an equity interest in their present housing to help finance a home purchase; and

therefore, it is in the public interest to help first-time homebuyers acquire existing housing as well as newly constructed or rehabilitated housing, as the assistance will:

creates a sound housing stock;

contributes towards a balanced economy;

promotes the health, welfare, and safety of the residents; and

serves valid public purposes.

The Prince George’s Authority consists of seven Commissioners nominated by the County Executive and confirmed by the County Council.

The County Council shall hold a public hearing before voting whether to confirm each nominee.

The term of a Prince George’s Authority Commissioner is 5 years.

The terms of Commissioners are staggered as required by the terms of the members serving on October 1, 2006.

At the end of a term, a Commissioner continues to serve until a successor is appointed and qualifies.

A Commissioner who is appointed after a term has begun serves only for the rest of that term and until a successor is appointed and qualifies.

exercise all or any part of those powers to provide housing, housing rehabilitation, housing projects, integrally related commercial structures, and their financing for county residents;

exercise other functions and responsibilities required by the county, including community development; and

acquire and spend public money for any purpose authorized under this Division II, if the exercise of all powers of the Prince George’s Authority is in accordance with Prince George’s County law or a contract or contracts with Prince George’s County.

make construction loans and long-term mortgage loans to any person to produce housing under this title;

buy and insure mortgages secured by such housing; and

make or buy mortgage loans to help first-time homebuyers to buy existing homes, if:

With the approval of the Prince George’s County governing body, the Prince George’s Authority within its area of operation may finance housing, housing rehabilitation, a housing project, or a continuing care facility authorized by this title by issuing and selling the bonds of any type.

Bonds that may be issued under this subsection include those on which the principal and interest are payable:

A bond under this subsection may be secured by pledge of any revenue or a mortgage of a housing project, projects, or other property of the Prince George’s Authority.

Bonds of the Prince George’s Authority may be sold at public or private sale in the manner and on the terms that are authorized by resolution of the Prince George’s Authority.