Md. Code Regs. 05.05.01.09 - Sponsor's Equity Contribution
A. For income-restricted projects, the Department may establish requirements for the amount of equity a sponsor must contribute to a project which may vary for different types of sponsors, including nonprofit sponsors.
B. Sponsors of office and other commercial space conversion projects shall make an equity contribution of at least 10 percent of the residential development costs of the project.
Notes
Regulation .09E amended effective January 2, 1994 (20:25 Md. R. 1942)
Regulations .09 Rental Multifamily Rental Financing Program adopted effective March 13, 2006 (33:5 Md. R. 518)
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