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§ 6-501. Definitions

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, § 6-501
§ 6-501. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Community development financial institution
(b) “Community development financial institution” has the meaning stated in 12 U.S.C. § 4702.
Community development organization
(c) “Community development organization” means an entity that meets the requirements set forth under § 6-504(a) of this subtitle.
Financial assistance
(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.
Program
(e) “Program” means the Baltimore Regional Neighborhood Initiative Program.
Sustainable community
(f) “Sustainable community” means an area designated as a sustainable community under § 6-205 of this title.

Credits

Added by Acts 2016, c. 29, § 1, eff. July 1, 2016.
MD Code, Housing & Community Development, § 6-501, MD HOUS & CMTY DEV § 6-501
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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