Bond Issue - Affordable Housing Loan - $14,000,000
For the purpose of authorizing the Mayor and City Council of Baltimore
(pursuant to General Assembly House Resolution I and Senate Resolution I
of 2022 approved by the members of the Maryland General Assembly
representing Baltimore City) to create a debt, and to issue and sell, at any
time or from time to time and in one or more series its certificates of
indebtedness as evidence thereof, and proceeds not exceeding
FOURTEEN Million ($14,000,000.00) from the sale of such certificates of
indebtedness to be used for the cost of issuance, including the expense of
engraving, printing, advertising, attorneys’ fees, and all other incidental
expenses connected therewith (which may include the proportion of the
compensation of employees and general administrative expenses of the
Department of Finance reasonably allocated to the issuance of the bonds);
and the remainder of such proceeds shall be used for or in connection with
planning, developing, executing, and making operative the Affordable
Housing program of the Mayor and City Council of Baltimore, including, but
not limited to, the acquisition, by purchase, lease, condemnation or any
other legal means, of land or property, or any right, interest, franchise,
easement or privilege therein, in the City of Baltimore; the payment of any
and all costs and expenses incurred in connection with or incidental to the
acquisition and management of said land or property, including any and all
rights of interest therein hereinbefore mentioned; the payment of any and
all costs and expenses incurred for or in connection with relocating and
moving persons or other legal entities displaced by the acquisition of said
land or property, or any of the rights or interest therein hereinbefore
mentioned, in the City of Baltimore; the development or redevelopment,
including, but not limited to, the comprehensive renovation or rehabilitation
of, any land or property, or any rights or interests therein hereinbefore
mentioned, in the City of Baltimore, and the disposition of land and
property for such purposes; costs related to the rehabilitation and new
construction of and operation of rental and homeownership developments,
such costs to include but not be limited to relocation assistance, rental
payment and home purchase assistance, housing counseling and project
financing comprised of loans(including forgivable or fully amoritizing) or
grants or other related activities and buyer education assistance, and
activities to support the orderly and sustainable planning, preservation,
rehabilitation, and development of economically diverse housing in City
neighborhoods; support for the Affordable Housing Trust Fund; the
elimination of unhealthful, unsanitary or unsafe conditions, lessening
density, eliminating obsolete or other uses detrimental to the public welfare
or otherwise removing or preventing the spread of blight or deterioration in
the City of Baltimore; the demolition, removal, relocation, renovation or
alteration of land, buildings, streets, highways, alleys, utilities or services,
and other structures or improvements, and for the construction,
reconstruction, installation, relocation or repair of buildings, streets,
highways, alleys, utilities or services, and other structures or improvements;
the payment of any and all costs and expenses incurred for, or in
connection with, doing any or all of the things herein mentioned, including,
