Bill number does not exist. Enter a vaild keyword.
Facebook Twitter Youtube Channels MY MGA

Statutes Text

Article - Housing and Community Development




§6–301.

    (a)    In this subtitle the following words have the meanings indicated.

    (b)    (1)    “Development costs” means the costs incurred to develop, redevelop, or expand a neighborhood business development project.

        (2)    “Development costs” includes the costs of:

            (i)    necessary studies, surveys, plans, and specifications;

            (ii)    architectural, engineering, or other special services, including flood plain studies, environmental audits, and critical area or wetland assessments;

            (iii)    land and improvements;

            (iv)    site preparation;

            (v)    construction, reconstruction, and rehabilitation;

            (vi)    machinery, equipment, and furnishings;

            (vii)    essential operating costs, including working capital and occupancy expenses;

            (viii)    indemnity and surety bonds and premiums on insurance;

            (ix)    temporary relocation expenses; and

            (x)    other costs determined to be acceptable by the Department.

    (c)    “Eligible opportunity zone” means an area designated as a qualified opportunity zone under § 1400Z–1 of the Internal Revenue Code that is located in Allegany County, Garrett County, Somerset County, or Wicomico County.

    (d)    “Food desert” means the part of a priority funding area or an eligible opportunity zone designated by the Secretary under § 6–308(c) of this subtitle.

    (e)    “Fund” means the Neighborhood Business Development Fund.

    (f)    “Microenterprise” means a business that qualifies as a microenterprise under § 6–302 of this subtitle.

    (g)    “Priority funding area” means an area designated as a priority funding area under § 5–7B–02 of the State Finance and Procurement Article.

    (h)    “Program” means the Neighborhood Business Development Program.

    (i)    (1)    “Project” means a neighborhood business development project that receives financial assistance from the Fund.

        (2)    “Project” includes a microenterprise project that receives financial assistance from the Fund.

    (j)    “Small business” means a business that qualifies as a small business under § 6–302 of this subtitle.

    (k)    “Sustainable community” means the part of a priority funding area that:

        (1)    as determined by the Smart Growth Subcabinet, satisfies the requirements of § 6–205 of this title;

        (2)    has been designated as a BRAC Revitalization and Incentive Zone under Title 5, Subtitle 13 of the Economic Development Article; or

        (3)    has been designated a transit–oriented development under § 7–101 of the Transportation Article.



Click to return on the top page