DIVISION OF HOUSING FINANCE

The Division of Housing Finance was estab-
lished in 1987 (Chapter 311, Acts of 1987). The
Division consists of the Community Development
Administration. The Division also is served by the
Housing Finance Review Committee.

COMMUNITY DEVELOPMENT
ADMINISTRATION
Trudy P. McFall, Director
Nancy S. Rase, Deputy Director

100 Community Place
Crownsville, MD 21032 514-7500

The Community Development Administration
(CDA) was formed in 1970 within the Department
of Economic and Community Development (Chapter
527, Acts of 1970). The Administration joined the
Department of Housing and Community Develop-
ment in 1987 (Chapter 311, Acts of 1987).
The Administration works to increase the supply
of housing for families of limited income, the elderly
and the handicapped; foster sound community
development; and stimulate the construction in-
dustry statewide. The Administration is responsible
for Rental Housing Programs, Home Ownership
Programs, Special Loan Programs, Housing Sub-
sidy Programs, and the Housing Management
Credit Program. Programs are funded by the sale of
tax-exempt revenue bonds; construction loan
notes; taxable bonds; State general obligation
bonds; general funds; special funds generated
through loan repayments, fees, and charges; and
federal housing subsidies. The Administration also
issues essential function bonds for the Local
Government Infrastructure Financing Program ad-
ministered by the. Division of Community Assis-
tance.
Projects proposed for financial assistance must
be consistent with local priorities and complement
and supplement local community development
programs and initiatives. Projects also must meet
eligibility criteria and financing requirements (Code
1957, Art. 83B, sees. 2-203 through 2-208).

HOUSING FINANCE REVIEW COMMITTEE
Chairperson: Ardath M. Cade, Deputy Secretary
of Housing & Community Development

Public members appointed by Governor: Kathleen A.
Boland, 1991; Peyton Herbert, 1991.

State government members appointed by Governor upon
recommendation of Secretary of Housing &
Community Development: Jacqueline H. Rogers and
Patricia J. Payne, Dept. of Housing & Community
Development; vacancy, Dept. of Budget & Fiscal
Planning.

Ex officio: Thomas R. Hobbs, Chairperson,
Maryland Housing Policy Commission.

514-7005

The Housing Finance Review Committee was
created in 1983 (Chapter 668, Acts of 1983). The
Committee reviews specific loan requests or
categories of loan requests, and the investment and
project financing policies of the Division of Housing
Finance. After review, the Committee makes recom-
mendations to the Secretary of Housing and Com-
munity Development.
Appointed by the Governor, the Committee is
composed of seven members. Three are Depart-
ment employees; two are public members who
serve four-year terms; one is a public member who
is the chairperson of the Maryland Housing Policy
Commission; and one is an employee of the execu-
tive branch of State government who is not
employed by the Department (Code 1957, Art.
83B, sec. 2-202).

RENTAL HOUSING PROGRAMS
Nancy S. Rase, Director
514-7446

The RentalHousingProduction Program (RHPP)
was established by the legislature in 1986 to stimu-
late production of rental housing for lower-income
households. Funds can be used for capital assistance
to cover costs of construction, rehabilitation, or
acquisition of rental housing, or for mortgage assis-
tance to reduce the operating costs of rental hous-
ing. Local governments must make a contribution
to reduce costs or otherwise support developments
financed through the Program. Priority is given to
developments that serve households at 30 percent
or less of area median income. The Program is
funded with general funds and repayments of prin-
cipal and interest on outstanding loans.
The Multi-Family BondProgram provides below-
market-rate construction and permanent financing
using taxable and tax-exempt bonds and notes. To
be eligible, developments must set aside a portion
of the units for limited-income households.
The Maryland Housing Rehabilitation Program—
Multi-Family (MHRP—MF) is designed to preserve
the State's stock of existing housing by making
direct, low-interest loans available to the owners of
apartment buildings of five or more units and com-
mercial properties for repair and renovation. Under
the requirements of the Program, recipients of loans
for the renovation of rental properties must make
units available to low-income tenants in the same
proportion as MHRP financing to total project
costs. Authorized by the General Assembly in
1975, MHRP—MF is funded by State general
obligation bonds, general funds, and by repayments
of principal and interest on outstanding loans.