Section 4-3003 - Guidelines(a) A project qualifies as a housing innovation project ifit provides new housing in which: (1) at least 20% of the units are set aside for households with a gross annual income of not more than 50% of the area median income for a household of like size; or(2) at least 40% of the units are set aside for households with a gross annual income of not more than 60% of the area median income for a household of like size.(b) The Department shall prioritize funding for projects that best meet the following guidelines: (1) the project does not use low-income housing tax credit equity or tax-exempt volume cap;(2) the affordable set-asides required under subsection (a) of this section remain restricted at elected levels for at least 99 years;(3) the project remains in public ownership; and(4) the project includes a commitment to prevailing wage requirements.Added by 2024 Md. Laws, Ch. 212,Sec. 1, eff. 7/1/2024.