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Statutes Text

Article - Housing and Community Development


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

    (b)    “Community development financial institution” has the meaning stated in 12 U.S.C. § 4702.

    (c)    “Community development organization” means an entity that meets the requirements under § 6–704 of this subtitle.

    (d)    (1)    “Financial assistance” means a grant, a loan, or an investment provided under this subtitle.

        (2)    “Financial assistance” includes:

            (i)    an assurance;

            (ii)    a guarantee;

            (iii)    a prepayment of interest on a subordinate or superior loan or portion of a loan;

            (iv)    a reduction in the principal obligation of or rate of interest payable on a loan or a portion of a loan; and

            (v)    any other form of credit enhancement.

    (e)    “National capital region” means the areas of the State located within:

        (1)    the boundary created by Interstate 495 in the State and the District of Columbia; and

        (2)    (i)    any qualified opportunity zone designated under § 1400Z–1 of the Internal Revenue Code in Montgomery County or Prince George’s County; or

            (ii)    an enterprise zone, as defined in § 5–701 of the Economic Development Article, in Montgomery County or Prince George’s County.

    (f)    “Program” means the National Capital Strategic Economic Development Program.

    (g)    “Sustainable community” means an area designated as a sustainable community under § 6–205 of this title.

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