§ 4-2802

(a) There is an Appraisal Gap From Historic Redlining Financial Assistance Program in the Department.

(b) The purpose of the Program is to help close appraisal gaps that occur in historically redlined neighborhoods by making financial assistance available to:

(1) affordable housing developers working in low–income census tracts and sustainable communities; and

(2) individuals who purchase a qualified property:

(i) after a qualified project is completed;

(ii) at an affordable sales price as determined by regulations adopted by the Department; and

(iii) as an owner–occupant.