§ 3-201. Definitions

MD House & Comm Dev Code § 3-201 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a)    In this subtitle the following words have the meanings indicated.

(b)    “Business project” has the meaning stated in § 4–201 of this article.

(c)    “Credit enhancement” means a guarantee, including a guarantee of an obligation backed by a pool of mortgages, or other assurance or security device issued to:

(1)    improve the credit of a qualified borrowing entity; or

(2)    upgrade the security or rating of a financial obligation, including:

(i)    a mortgage backed security;

(ii)    a certificate of participation; and

(iii)    a bond or note issued to finance a development activity described in this subtitle.

(d)    “Energy conservation project” has the meaning stated in § 4–201 of this article.

(e)    “Financing” includes acquisition financing, permanent financing, short–term bridge financing, construction financing, and refinancing of a loan or project authorized under this subtitle.

(f)    “Fund” means the Maryland Housing Fund.

(g)    “Housing” includes:

(1)    a single dwelling unit;

(2)    a multiple dwelling unit;

(3)    an accessory unit residential facility;

(4)    a shared–living unit facility, accommodating at least two individuals or families, in which some or all of the living, dining, kitchen, or sanitary facilities are shared; and

(5)    an ancillary commercial or other facility that is related to, incidental to, and supportive of the housing.

(h)    “Infrastructure project” has the meaning stated in § 4–201 of this article.

(i)    “Mortgage” includes:

(1)    a deed of trust, a security agreement, and a pledge; and

(2)    any other security arrangement securing a loan, including a mortgage, to finance:

(i)    the purchase of stock or membership in a cooperative ownership housing corporation; or

(ii)    the construction or rehabilitation of dwelling units in a cooperative ownership housing corporation.

(j)    “Public purpose project” has the meaning stated in § 4–201 of this article.

(k)    “Solar energy project” has the meaning stated in § 4–201 of this article.

No previous sections
Next Section
§ 3-202. Findings