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MPDUs must not be sold or rented at prices or rents that exceed the maximum prices or rents established under this Section.
(1) The sale price of any MPDU, including closing costs and brokerage fees, must not exceed an applicable maximum sale price established from time to time by the County Executive in regulations adopted under method (1).
(2) The regulations adopted to implement this Section must allow the Director to:
(A) restrict those conditions of the design, construction, pricing, or amenity package of an MPDU project that will impose excessive mandatory homeowner or condominium fees or other costs that reduce the affordability of the MPDUs; and
(B) approve an increase of up to 10 percent over the base sale price of an MPDU upon a finding that the increase is justified to cover the cost of a modification of the external design of the MPDU necessary to reduce excessive marketing impact of the MPDU on the market rate units in the subdivision.
(b) Rents. The rent, including surface parking but excluding utilities when they are paid by the tenant, for any MPDU must not exceed a maximum rent for the MPDU set by Executive regulations. Different rents must be set for MPDUs when utility costs are paid by the owner and included in the rent. Different rents may be set for age-restricted MPDUs. Different rents also may be set for high-rise rental MPDUs. (1989 L.M.C., ch. 27, § 1; 2004 L.M.C., ch. 29, § 1; 2005 L.M.C., ch. 4, § 1; 2018 L.M.C., ch. 20 , § 1.)
Editor’s note—2018 L.M.C., ch. 20, § 2, states: Regulations. The County Executive must submit the regulations required by Sections 25A-5, 25A-7, 25A-8, and 25A-9, as amended by this Act, to the Council for approval not later than October 15, 2018.
2004 L.M.C., ch. 29, § 2, states in part: "The amendments to Chapter 25A made by Section 1 of this Act which extend the control period for sale and rental MPDUs do not apply to any MPDU for which a sale contract or rental agreement was signed before April 1, 2005."