§ 4-403

The purposes of the Program are to:

(1) stimulate the production and preservation of rental housing;

(2) increase and improve the supply of decent, safe, and sanitary rental housing at costs that are affordable to households of limited income;

(3) use available resources efficiently to serve the households that are in need of quality affordable housing opportunities, including families, the elderly, and persons with disabilities or special needs;

(4) support economic growth and activity by financing, in whole or in part, the construction or substantial rehabilitation of rental housing projects; and

(5) revitalize sustainable communities, as defined in § 6–301 of this article, through office or other commercial space conversion.