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, but not limited to, the costs and
expenses of securing administrative, appraisal, economic analysis, engineering,
planning, designing, architectural, surveying, and other professional services; and for
doing any and all things necessary, proper or expedient in connection with or
pertaining to any or all of the matters or things hereinbefore mentioned; authorizing the
submission of this Ordinance to the legal voters of the City of Baltimore, for their
approval or disapproval, at the General Election to be held in Baltimore City, on
Tuesday, the 8th day of November, 2022; and providing generally for the issuance
and sale of such certificates of indebtedness in accordance with the provisions of the
Charter of the Mayor and City Council of Baltimore, and by the municipal agency
