Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(a) A project qualifies as a housing innovation project if it provides new housing in which:
(1) at least 20% of the units are set aside for households with a gross annual income of not more than 50% of the area median income for a household of like size; or
(2) at least 40% of the units are set aside for households with a gross annual income of not more than 60% of the area median income for a household of like size.
(b) The Department shall prioritize funding for projects that best meet the following guidelines:
(1) the project does not use low-income housing tax credit equity or tax-exempt volume cap;
(2) the affordable set-asides required under subsection (a) of this section remain restricted at elected levels for at least 99 years;
(3) the project remains in public ownership; and
(4) the project includes a commitment to prevailing wage requirements.
Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 4-3003 - last updated January 01, 2025 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-4-3003/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)