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Commissioners authorize transfer of county housing bond allocation to state on-behalf-of program
Summary
The Board authorized the president to sign a letter transferring Calvert County's housing bond allocation to Maryland's on-behalf-of (OBO) program, which staff said expands mortgage and housing loan opportunities for income-eligible residents; staff reported 42 loans and more than $14.7 million in mortgage volume to date this fiscal year.
Calvert County commissioners authorized the board president to sign a letter and attachment transferring the county's housing bond allocation to the Maryland Department of Housing and Community Development's on-behalf-of (OBO) program, a step staff said will help support mortgage and housing assistance for income-eligible residents.
Jennifer Moreland, director of Community Resources, explained statutory timing and usage: the county must transfer its allocation in writing on or before June 15, 2025, to participate. She said the county's participation funnels local allocations into the Maryland mortgage program and that, "if you're asked how Calvert County supports affordable housing, this is one way," describing the OBO program as a mechanism to increase loan capacity for eligible buyers. Moreland told the board the memo showed 42 loans and $14,753,229 in mortgage value to date in FY25 under the Maryland mortgage program.
Commissioners asked about average loan sizes and eligibility; staff said loans generally serve working-class households and reported an average loan in the neighborhood of $350,000 in the local sample, while confirming programs like "House Keys for Employees" also use matching funds from DHCD. A motion authorizing the board president to sign the transfer letter passed by voice vote.
