Reference No. CB-101-2025    Draft No. 1
Type: Council Bill Status: Presentation and referral
Meeting Body County Council
Meeting Date 10/14/2025
Introduced Date Public Hearing Date
Effective date:    
Title: AN ACT CONCERNING HOMEOWNERSHIP EQUITY PROGRAM for the purpose of establishing the Homeownership Equity Program for County residents; providing for the purposes and uses of the Homeownership Equity Program within the Housing Investment Trust Fund; providing for the funding and administration of the Homeownership Equity Program; providing for eligibility, terms, funding, property requirements for buyers; providing for loans for persons in select groups; providing for application intake, underwriting, closing support, post-purchase follow-up and approval of administrative rules and program guidelines; and generally regarding the Homeownership Equity Program.
Proposers/Sponsors: Krystal Oriadha
Code sections: 10-295 -
Attachments: 1. B2025101, 2. CB-101-2025 Summary
Contact: Kathy Canning, Legislative Attorney

Title

AN ACT CONCERNING HOMEOWNERSHIP EQUITY PROGRAM for the purpose of establishing the Homeownership Equity Program for County residents; providing for the purposes and uses of the Homeownership Equity Program within the Housing Investment Trust Fund; providing for the funding and administration of the Homeownership Equity Program; providing for eligibility, terms, funding, property requirements for buyers; providing for loans for persons in select groups; providing for application intake, underwriting, closing support, post-purchase follow-up and approval of administrative rules and program guidelines; and generally regarding the Homeownership Equity Program.

 

 

Background

This bill establishes the Homeownership Equity Program for County residents. The bill provides for the purposes and uses of the Homeownership Equity Program within the Housing Investment Trust Fund as well as the funding and administration of the Homeownership Equity Program.  Program eligibility, terms, funding, property requirements for buyers and loans for persons in select groups are set forth in the bill. Application intake, underwriting, closing support, post-purchase follow-up and approval of administrative rules and program guidelines are also set forth in the bill.



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