Title 4. Division of Development Finance — Subtitle 18. Workforce Housing Grant Program

rent for a rental housing unit; or

mortgage principal and interest, real property taxes, and insurance for a housing unit that is for sale.

reasonable costs paid by the original buyer;

the combined amount of Program funds and qualifying local government matching funds used to develop the workforce housing unit; and

other liens as permitted by regulation by the Department.

rental housing that is affordable for a household with an aggregate annual income between 50% and 100% of the area median income; or

homeownership housing that:

the local government has:

the plans listed in item (1) of this subsection:

the local government provides a statement to the Department indicating:

preservation and renovation of existing housing stock;

redevelopment of existing residential areas;

streamlined regulatory processes and reduced regulatory fees for construction or renovation;

financial incentives for construction and renovation including local property tax credits;

special zoning regulations for construction and renovation including inclusionary zoning;

efforts to preserve workforce housing stock for subsequent first–time homebuyers and renters;

coordination with neighboring jurisdictions;

coordination with private sector employers; and

leveraging of federal financial assistance.

costs to administer a program under this subtitle; and

financial commitments to other affordable or workforce housing initiatives.

determine the county’s proportionate share of Program funds based on the county’s share of the State population; and

from the amount of Program funds determined under item (i) of this item, distribute:

determine the county’s proportionate share of Program funds based on the county’s share of the State population; and

distribute to each qualifying local government in the county that is a municipal corporation, a proportionate share of the amount of Program funds determined under item (i) of this item based on the municipal corporation’s share of the county’s population.

within 5 years of the date of purchase, the original buyer shall pay the lesser of 20% of the net proceeds of transfer to the Department or a 5% annual return on the Program funds provided for the unit;

during the period that is more than 5 years but less than 15 years from the date of purchase, the original buyer shall pay to the Department the lesser of a percentage of the net proceeds of transfer that begins at 20% and declines by 2% for each subsequent year of ownership or a 5% annual return on the Program funds provided for the unit; and

during the period that is 15 years or more from the date of purchase, the original buyer is not required to pay any portion of the net proceeds of transfer to the Department.

of the funds paid by the original buyer to the Department under subsection (b) of this section, an amount equal to the matching funds provided by the qualifying local government for the homeownership workforce housing unit; and

of the funds paid by the original buyer to the Department under subsection (c) of this section, a proportionate share based on the amount of matching funds provided by the qualifying local government for the homeownership workforce housing unit.

The amounts owed to the Department in the event of a transfer of title of a homeownership workforce housing unit under this section shall be secured by a recorded lien on the homeownership workforce housing unit.

The lien created under this subsection may be a subordinate lien.

The Department may charge a fee for servicing a lien created under this subsection.