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Commissioners transfer 2015 bond allocation to state, back Housing Authority grant application
Summary
Board approved transferring the county2015 state ceiling (volume cap) of $3,867,957 to the Maryland Department of Housing and Community Development for state mortgage programs and signed a resolution supporting the Housing Authority's $129,232 Community Legacy grant application to renovate 10 townhomes in Lexington Park.
St. Mary's County commissioners on Sept. 1 voted to transfer the county's 2015 state bond allocation (volume cap) of $3,867,957 to the Maryland Department of Housing and Community Development (DHCD) and to sign a resolution supporting a Community Legacy grant application by the Housing Authority of St. Mary's County.
Department of Economic Development director Chris Casalemas explained the annual option: local jurisdictions may keep their allocation to issue tax-exempt mortgage bonds locally or transfer the…
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