For the purpose of effectuating and carrying out the provisions of this article, the county, is hereby powered, and the county executive is hereby authorized on the county's behalf, to:
(a) Public funds. Expend public funds for any of the purposes set forth in this article.
(b) Opportunity housing projects. Institute opportunity housing projects by preparing, carrying out, acquiring and operating opportunity housing projects; to provide for the construction, reconstruction, improvement, alteration or repair of any opportunity housing project, or any part thereof.
(c) Acquisition of land and property. Acquire, within the boundary lines of the county, by purchase, gift, option, condemnation or any other legal means, real and personal property of every kind, and any right, title, interest, franchise, easement or privilege therein, for use in opportunity housing projects, all in conformity with section 20-37.
(d) Sale, lease, etc. Grant, sell, lease, convey, transfer or otherwise dispose of or return any of the aforesaid real property, regardless of whether or not it has been developed, redeveloped, altered or unimproved, and irrespective of the manner in, or means by, which it may have been acquired, to any sponsors of opportunity dwellings or housing or to any other private or public or quasi-public corporation, partnership, association, person, developer or other legal entity, upon such terms and conditions as may be determined by the county to make economically feasible the development of opportunity housing without the necessity of public bidding or public sale, expressly for the purpose of constructing opportunity housing for persons of eligible income; provided, that such disposition, grant or lease of any such property shall first have been advertised once a week for three (3) successive weeks in one (1) or more newspapers of general circulation published in the county, stating the terms and the compensation to be received therefor, and giving time for filing of objections thereto; and in the event such conveyance takes place the purchaser or lessee thereof shall, prior to entering into any contract or agreement to resell, encumber or in any way lease or otherwise retransfer the property, first obtain written consent of the county executive.
(e) Provide services. Arrange or contract for the furnishing by any person or agency, public or private, of services, privileges, works or facilities for, or in connection with, an opportunity housing project or the occupants thereof.
(f) Borrow money or issue bonds. Issue bonds or borrow money under other obligations from time to time at the county's discretion, in order to carry out the purposes stated in this article.
(g) Insurance. Provide for the securing of insurance against any risks or hazards to any real or personal property or operations of the county in the performance of its duties and the carrying out of its authority as set out in this article; and to procure insurance or guarantees from the federal government or the state for the payment of any debts or encumbrances, or parts thereof, under any federal or state programs for which the county would be eligible in carrying out the purposes of this article.
(h) Eligibility standards. Adopt and revise standards, by executive regulations adopted by the county executive under method (2) of section 2A-15 of this Code, for eligibility for renting or purchasing opportunity housing, and establish and revise the rents, sales prices or charges therefor; such rents, sales prices or charges to be based upon a net of maximum income or other financial limits to be established and revised by the county executive for eligibility and admission to such opportunity housing. In establishing and revising such income limits, the county executive shall consider all available statistical data indicating the minimum rentals and sales prices of dwelling units or housing available or being produced in the private market, including sales price data from the county's department of finance; the vacancy ratio in rental units; the currently prevailing prices at which private enterprise can and will produce sales and rental units; and any other statistical data which at the discretion of the county executive is deemed appropriate and relevant to the general market and economic conditions that currently exist.
(i) Investigate and plan. Investigate into living and dwelling conditions and into possible means and methods of improving such conditions; to determine where slum areas exist or where there is a shortage of decent, safe and sanitary dwelling or housing accommodations; to make or have made all studies, surveys and plans necessary to carry out the purposes of this article, and to adopt or approve, modify and amend such plans; and to cooperate with the federal government and the state, or any political subdivision thereof, in planning actions to be taken to remedy problems of housing in connection with the purposes of this article.
(j) Repurchase option. As consideration for the assistance provided the purchaser of an opportunity housing unit by the county pursuant to this article, the county executive, his or her designee or any agency or corporation empowered to carry out the powers granted by this article, may require the purchaser, prior to the sale of such housing unit, to grant by written agreement to the county or said agency or corporation an irrevocable option to repurchase said housing unit for a period of up to five (5) years if the purchaser desires to sell said unit for any reason. The price to which the purchaser shall be entitled under this agreement is the price that was paid by the purchaser plus that percentage of the unit's appreciation in value attributable to the increase in the cost-of-living for the period between purchase and sale, as determined by 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, plus the value of improvements beyond normal maintenance. If more than one consumer price index is published by the federal government, then the county executive, his or her designee, or any agency or corporation empowered to carry out the powers of this article, shall determine which index is to be applied.
(k) Loans, subsidies, mortgages. Make mortgage loans and rent subsidy payments to persons of eligible income; make construction loans and long-term mortgage loans to any person, firm, partnership, association, joint venture or corporation, public or private, to produce housing for persons of eligible income; purchase mortgages secured by housing for persons of eligible income.
(l) Exercise of powers. Exercise all, or any portion or combination of, the powers and authorizations herein granted. (1974 L.M.C., ch. 41, § 1; 1979 L.M.C., ch. 54, § 1; 1984 L.M.C., ch. 24, § 54; 1984 L.M.C., ch. 27, § 37; 2018 L.M.C., ch. 3, §1.)