§ 4-607
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/md/housing-and-community-development/4-607A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–607.
To qualify for a Program loan, a group home sponsor shall own and operate a group home and be:
(1)a nonprofit organization;
(2)an individual; or
(3)a limited partnership if:
(i)1. each general partner qualifies as a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii)the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and
(iii)a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.