Four Rivers Community Loan Fund, Inc.

  
Four Rivers is a wholly owned not-for-profit corporation established by the Housing Authority of St. Mary’s County, Maryland (HASMC).   The legal formation of Four Rivers via Articles of Incorporation and acceptance by the Maryland Department of Assessments and Taxation occurred on December 16, 2005.

Four Rivers represents an affiliate entity formed by this Authority under State Law.  Moreover, HASMC participates in Four Rivers’ governance.
  

Purpose.  The purposes of the Corporation are as follows:

(a)        Under the authority of Section 1-301(11) of Article 44A of the Annotated Code of Maryland, to own, operate and take any and all steps necessary or convenient to develop or otherwise undertake housing projects within the area of operation of the Housing Authority of St. Mary’s County, Maryland, a public body corporate and politic (the “Authority”) in furtherance of the purposes of the Authority to exercise public and essential governmental functions to carry out the provisions and purposes of the Authority pursuant to Article 44A of the Annotated Code of Maryland, including to acquire, own, operate, construct, develop, lease, manage and otherwise deal with real and personal property of all kinds and types; to borrow money and incur obligations; to guarantee debt and other obligations of the Authority; and to grant mortgages, deeds of trust, security interests and other liens and encumbrances to secure any obligation of the Corporation or the Authority;

(b)        To provide affordable financing and housing for low to moderate income families, including the provision of new housing opportunities, managing such housing and services supporting affordable housing, preservation and rehabilitation opportunities for existing housing, and homeownership opportunities;

(c)        To provide homebuyer education programs;

(d)        To provide community facilities for child care, education and training programs and other programs for the betterment of the community;

(e)        To provide economic opportunity including individual development accounts, business, education and training programs for persons to improve their economic well-being; and

(f)         To provide other programs that are deemed appropriate to help revitalize homes and neighborhoods and to promote community development and decent, safe and affordable housing for low to moderate income families.