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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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HOUSING AND COMMUNITY DEVELOPMENT |
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DIVISION I. HOUSING AND COMMUNITY PROGRAMS. |
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TITLE 4. DIVISION OF DEVELOPMENT FINANCE |
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SUBTITLE 2. COMMUNITY DEVELOPMENT ADMINISTRATION |
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PART I. DEFINITIONS; GENERAL PROVISIONS |
§ 4-208. Housing Finance Review Committee
Latest version.
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(a) Established. -- There is a Housing Finance Review Committee.
(b) Composition. -- The Housing Finance Review Committee consists of seven members appointed by the Governor on recommendation of the Secretary as follows:
(1) three employees of the Department, one of whom may be the Secretary;
(2) one employee of the Executive Branch of State government who is not employed by the Department; and
(3) three members of the public.
(c) Term. --
(1) The term of a public member is 4 years and begins on July 1.
(2) At the end of a term, a public member continues to serve until a successor is appointed and qualifies.
(3) A public member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies.
(d) Duties. --
(1) The Housing Finance Review Committee shall review and make recommendations to the Secretary about:
(i) specific loan requests or categories of loan requests; and
(ii) the investment and project financing policies of the Administration.
(2) The Secretary may approve a specific loan request without a recommendation of the Housing Finance Review Committee if the request requires urgent action.