(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.)