Eligible housing shall be target housing, which is housing that meets the following criteria: Was constructed before 1950, except that housing constructed after that but before 1978 may be approved if the Program Director determines that a lead-based paint hazard is present; Is not housing for the elderly or persons with disabilities, unless a child younger than 6 years old resides or expects to reside there; and Consists of residential dwellings with at least one bedroom each. Eligible housing shall be target housing under §A of this regulation that meets the following additional criteria: Is owner-occupied housing that meets the income requirements set forth in Regulation .13 of this chapter or rental housing for tenants who meet the requirements set forth in Regulation .13 of this chapter; and Is not public housing (whether federal or locally supported), federally owned housing, or federally assisted housing, except for tenant-based housing that receives assistance under §8(b) or 8(a) of the United States Housing Act of 1937. Each project building shall: Be located within the State; and Contain at least one residential unit, with each unit having at least one bedroom. Preferences for funding shall be given to housing that is target housing with evidence of a lead-based paint hazard or rental housing which will give rental priority to families with a child younger than 6 years old, or a child with an elevated blood lead level, and that meets the following criteria: Has an existing lead violation; Has a child with an elevated blood lead level in residence; Has a child younger than 6 years old in residence; or Has a child younger than 6 years old or a child with an elevated blood lead level who is expected to spend a significant amount of time visiting. A project shall meet the property standards set forth in Regulation .12 of this chapter. The Department in its discretion may approve a forward commitment reserving Program funds to a nonprofit organization, in connection with the organization's research into lead paint abatement or lead paint medical issues, for Program loans or grants. A project is ineligible for funding if any part of the property is located in: A federal Coastal Barrier Resource System; or An area identified by the Federal Emergency Management Agency as having special flood hazards, unless flood insurance is obtained in accordance with the federal Flood Disaster Protection Act. A project shall be reviewed and approved by the Maryland Historical Trust.