Loading...
(a) The County Executive may:
(1) delegate any power or duty under this Article to any agency, as defined in Section 25B-2(b); and
(2) enter into an agreement with an agency to administer this program.
(b) The Executive may:
(1) charge application fees or other fees to loan applicants or lenders;
(2) adopt regulations to administer the program;
(3) attach specific terms to any loan as necessary to carry out the purpose of the program;
(4) establish additional eligibility standards for a loan, taking into account the applicant's ability to pay, the cost of the single family residence, and other relevant factors;
(5) establish regulations to determine which items or portion of the closing costs can be included in the loan;
(6) enter into contracts with third parties who would make or service a loan made under this Article;
(7) enter into any necessary agreement with the State Department of Housing and Community Development to receive a delegation of the State settlement expense loan program under State law in the County; and
(8) take any other action necessary or convenient for the effective operation of the program. (1990 L.M.C., ch. 17, § 1; 1997 L.M.C., ch. 6, § 1.)
A revolving fund is established to be used to make loans and to pay expenses of the program. All appropriations and other receipts for the program must be placed in the fund, and all payments for program expenses must originate in the fund. Unappropriated surplus in the fund may be transferred through the appropriation process. (1990 L.M.C., ch. 17, § 1; 1997 L.M.C., ch. 6, § 1.)
(a) A person may not knowingly make or cause any false statement or report to be made in any document required to be furnished in relation to a loan.
(b) A person applying for a loan may not knowingly make or cause any false statement or report to be made for the purpose of influencing an action on a loan application.
(c) Any person who violates any provision of subsection (a) or (b) of this section is guilty of a Class A offense. (1990 L.M.C., ch. 17, § 1.)
By March 1 of each year, the County Executive must submit an annual report for the preceding calendar year describing implementation of the program, including the number and dollar value of loans made, income characteristics of loan recipients, and the number and dollar value of any loan defaults. (1990 L.M.C., ch. 17, § 1.)
In this Article, the following words have the following meanings:
(a) Area-wide median income means the income level determined to represent the median income for the Washington area by the U.S. Department of Housing and Urban Development, adjusted for household size.
(b) Consumer Price Index means the latest published version of the Consumer Price Index for all Urban Consumers (CPI-U) for the Washington-Arlington-Alexandria Core Based Statistical Area (CBSA), as published by the United States Department of Labor, Bureau of Labor Statistics, or any similar index selected by the County Executive.
(c) Date of original sale means the date of settlement for purchase of a productivity housing unit.
(d) Date of original rental means the date that the first lease of a productivity housing unit takes effect.
(e) Department means the Department of Housing and Community Affairs.
(f) Developer means a person or other legal entity that seeks to develop a productivity housing project.
(g) Director means the Director of the Department or the Director's designee.
(h) Dwelling unit means a building or part of a building that provides complete living facilities for one family, including at a minimum facilities for cooking, sanitation and sleeping.
(i) Housing Initiative Fund means the fund established under section 25B-9.
(j) Productivity housing or productivity housing project means a project to build dwelling units for sale or rent at one location where at least 35 percent of the dwelling units are sold or rented to households with incomes below the area-wide median income.
(k) Productivity housing unit means a dwelling unit in a productivity housing project that is subject to rent limits or sales controls under this Article.
(l) Program means the productivity housing program. (1996 L.M.C., ch. 25, § 1; 2018 L.M.C., ch. 3, §1.)
(a) Establishment. The Department must establish a productivity housing program.
(b) Purpose. The purpose of the program is to promote the construction of housing affordable to households with incomes at and below the area-wide median income level. The construction of that housing is intended to:
(1) allow households with incomes at and below the area-wide median income level to have greater housing choices in the County;
(2) increase the availability of housing for those workers whose income cannot support the high cost of housing that is located close to the workplace and as a result, are increasingly priced out of housing opportunities;
(3) assist County employers in reducing critical labor shortages of skilled and semi- skilled workers by providing housing that will be accessible to the workplace; and
(4) reduce traffic congestion by shortening commute distances for employees who work in the County but who otherwise must live outside the County.
(c) Relationship to other affordable housing programs. The program is intended to complement the moderately priced housing program under Chapter 25A and other County programs designed to promote affordable housing.
(d) Regulations. The County Executive must adopt regulations under method (1) to administer this Article. These regulations may include setting maximum sale prices and annual rent limits after adjustments for inflation, establishment of sale price and rent ranges, the range of income-eligible households that will be served, foreclosures, waivers, income eligibility standards, notice to the Department of sales and rentals, and other relevant matters. The regulations must set a range of sale prices for productivity housing units which do not exceed 175 percent of the sale prices set for comparable moderately priced dwelling units under Chapter 25A. (1996 L.M.C., ch. 25, § 1.)
Loading...