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§ 6-504. Community development organizations

West's Annotated Code of MarylandHousing and Community DevelopmentEffective: July 1, 2016

West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division I. Housing and Community Programs [Titles 1-11] (Refs & Annos)
Title 6. Division of Neighborhood Revitalization (Refs & Annos)
Subtitle 5. Baltimore Regional Neighborhood Initiative Program (Refs & Annos)
Effective: July 1, 2016
MD Code, Housing & Community Development, § 6-504
§ 6-504. Community development organizations
Currentness
Criteria for eligibility for Program funds
(a) A corporation, a foundation, or any other legal entity is a community development organization eligible to apply for Program funds if:
(1) the purpose of the organization is to implement a clear revitalization strategy in a neighborhood or set of neighborhoods within Baltimore City or the inner-beltway communities of Baltimore County or Anne Arundel County; and
(2) no part of the organization's net earnings inures to the benefit of a private shareholder or an individual holding an interest in the entity.
Neighborhood revitalization plan
(b) The community development organization's application must contain a neighborhood revitalization plan that includes community enhancement projects located within a sustainable community.
Joint application
(c) A community development organization may apply with another community development organization or with a community development financial institution that has the capacity and experience to assist in the financing of real estate projects within the community.
Location of community enhancement project
(d) The community enhancement projects for which a community development organization applies for Program funds may be located in more than one political subdivision.

Credits

Added by Acts 2016, c. 29, § 1, eff. July 1, 2016.
MD Code, Housing & Community Development, § 6-504, MD HOUS & CMTY DEV § 6-504
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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