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Commissioners authorize participation in Maryland Mortgage Program; presenter cites program eligibility and loan history
Summary
The board approved sending a letter to participate in the Maryland Mortgage Program and to issue housing bonds on behalf of the county; the presenter cited generous income limits and a $665,173 maximum acquisition cost but a transcript error makes the requested transfer amount unclear.
The Allegany County commissioners approved a resolution to participate in the Maryland Mortgage Program (MMP) and to authorize the president to sign a transfer letter that would allow issuance of tax-exempt housing bonds in support of below-rate mortgages.
David Nedved presented the program and highlighted eligibility details: current…
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