Md. Code, Housing and Community Development § 4-607
This is the official text of Md. Code, Housing and Community Development § 4-607, part of Maryland’s Code, Housing and Community Development — governs housing programs and community development.
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§4–607.
Official statutory text
To qualify for a Program loan, a group home sponsor shall own and operate a group home and be:
(1) a nonprofit organization;
(2) an individual; or
(3) a limited partnership if:
(i) 1. each general partner qualifies as a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and
(iii) a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.
(1) a nonprofit organization;
(2) an individual; or
(3) a limited partnership if:
(i) 1. each general partner qualifies as a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and
(iii) a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.
Status: in_force · Read it on the official government site
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