{"data":{"id":"us-md/md.-code-housing-and-community-development-4-2801","jurisdiction":"us-md","citation":"Md. Code, Housing and Community Development § 4–2801","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) “Affordable” means that monthly housing costs are affordable to a family of limited income as determined under § 4–212 of this title.\n(c) “Appraisal gap” means the amount by which the total cost of eligible construction expenses exceeds the contract sales price of a qualified property when it is initially sold to an owner–occupant.\n(d) (1) “Eligible construction expenses” means any amount that is expended on the construction or substantial rehabilitation of a qualified property.\n(2) “Eligible construction expenses” includes any amount expended on:\n(i) acquisition costs;\n(ii) roof repair and replacement;\n(iii) chimney repair and lining;\n(iv) internal and external doors;\n(v) windows;\n(vi) masonry;\n(vii) floor joists;\n(viii) finished flooring;\n(ix) framing;\n(x) structural repairs;\n(xi) foundation repairs;\n(xii) plumbing, electrical, and mechanical systems;\n(xiii) architectural and engineering consulting fees;\n(xiv) tools and equipment rental;\n(xv) new construction;\n(xvi) infrastructure; and\n(xvii) other expenses as determined by the Secretary.\n(e) “Financial assistance” includes:\n(1) a grant;\n(2) a loan;\n(3) a reduction in the principal obligation of or rate of interest payable on a loan or portion of a loan;\n(4) a prepayment of interest on a subordinate or superior loan or portion of a loan;\n(5) an assurance;\n(6) a guarantee; and\n(7) any other form of credit enhancement.\n(f) “Fund” means the Appraisal Gap From Historic Redlining Financial Assistance Fund established under this subtitle.\n(g) “Qualified project” means the construction or substantial rehabilitation of a qualified property if the eligible construction expenses do not exceed $500,000.\n(h) “Qualified property” means residential real property that is:\n(1) newly constructed or a formerly vacant structure that has been substantially rehabilitated;\n(2) located in:\n(i) a low–income census tract as defined by the U.S. Department of Housing and Urban Development; and\n(ii) an area designated as a sustainable community; and\n(3) constructed or rehabilitated with the purpose of being sold to an owner–occupant at an affordable sales price.\n(i) “Sustainable community” means an area designated as a sustainable community under § 6–205 of this article.","path":["Article - Housing and Community Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=ghs\u0026section=4-2801","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:07Z","sha256":"6682b0c3c8baf222cae253a0eaab4883871a81722b789a4fbda3f92b72fd4afd","source_id":"us-md","stale":false,"prev":"us-md/md.-code-housing-and-community-development-4-2708","next":"us-md/md.-code-housing-and-community-development-4-2802"},"notice":"GroundRules: Original legal text. Not legal advice."}