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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The Department may award a technical assistance grant only if the applicant agrees to:
(1) a budget that states the types and amounts of expenditures that may be made with the grant;
(2) the manner, timing, and conditions for disbursement of money to the grantee;
(3) a timetable to complete each stage of the project and for final project completion; and
(4) terms to ensure compliance with regulations, special conditions imposed by grant approval, and any other terms or conditions that the Department specifies.
(b) The amount of a technical assistance grant may not exceed 20% of the average purchase price, over the last 3 fiscal years for which data are available, of a home:
(1) financed by a mortgage loan that the Administration purchased under § 4-239 of this title; and
(2) located in the region where the technical assistance grant is to be awarded.
(c)(1) Except as provided in paragraph (2) of this subsection, a technical assistance grant recipient shall complete the project within 2 years after the effective date of the grant.
(2) The Department may extend the term of a technical assistance grant because of delays beyond the reasonable control of the recipient.
(d) The Department may require that all or part of a technical assistance grant be repaid when conditions that the Department specifies occur.
Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 4-1710 - last updated January 01, 2025 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-4-1710/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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