In this section the following words have the meanings indicated. “Condominium association” means a council of unit owners, as defined in § 11–109 of the Real Property Article, subject to the provisions of the Maryland Condominium Act. “Homeowners association” means a homeowners association, as defined in § 11B–101 of the Real Property Article, subject to the provisions of the Maryland Homeowners Association Act. A county or municipality may establish a local trust fund or other appropriate fund for the purpose of repairing or rehabilitating infrastructure within communities that are subject to the requirements of the Maryland Condominium Act or the Maryland Homeowners Association Act. A fund created under paragraph (1) of this subsection: may be used, at the discretion of a county or municipality, for the repair of infrastructure that is traditionally maintained by the county or municipality for the benefit of the public, including roads and stormwater management facilities; and may not be used to repair or replace recreational facilities used for the exclusive use or benefit of the members of a condominium association or homeowners association or their guests. A fund established by a county or municipality under subsection (b) of this section shall consist of: property tax revenues paid to the county or municipality by unit owners in a condominium or lot owners in a homeowners association; other appropriations made by the county or municipality for the benefit of the fund; gifts or donations made to the fund; and investment earnings of the fund. A county or municipality shall assign property tax revenues paid to the county or municipality by the unit owners in a condominium association or the lot owners in a homeowners association to a fund established in accordance with this section as follows: 25% of the revenues per year for any condominium association or homeowners association that has not received support from the fund since the date on which the fund was established; and not less than 10% but not more than 25% of the revenues per year for any condominium association or homeowners association that has received support from the fund since the date on which the fund was established. Subject to paragraph (2) of this subsection, a county or a municipality may establish eligibility requirements for the award of funds to a condominium association or homeowners association. A county or municipality shall prioritize support for condominium associations and homeowners associations that exhibit the greatest need for infrastructure repair or rehabilitation. When evaluating the need for funding to support infrastructure repair, a county or municipality may consider the availability of other funds and resources on which a condominium association or homeowners association may rely.