Acquisition of Substandard Dwelling

(a)The Authority is authorized to acquire the real property upon which a substandard dwelling is constructed when such substandard dwelling is occupied by a family who were if not for ownership of such real property, would otherwise be eligible for a preference classification under § 5304 of this Article.

(b)The acquisition of such real property shall be in accordance with such terms and conditions as the Board shall prescribe by uniform regulation.