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§ 6-301. Definitions

West's Annotated Code of MarylandHousing and Community DevelopmentEffective: July 1, 2021

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 3. Neighborhood Business Development Program (Refs & Annos)
Effective: July 1, 2021
MD Code, Housing & Community Development, § 6-301
§ 6-301. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Development costs
(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.
Eligible opportunity zone
(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.
Food desert
(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.
Fund
(e) “Fund” means the Neighborhood Business Development Fund.
Microenterprise
(f) “Microenterprise” means a business that qualifies as a microenterprise under § 6-302 of this subtitle.
Priority funding area
(g) “Priority funding area” means an area designated as a priority funding area under § 5-7B-02 of the State Finance and Procurement Article.
Program
(h) “Program” means the Neighborhood Business Development Program.
Project
(i)(1) “Project” means a neighborhood business development project that receives financial assistance from the Fund.
(2) “Project” includes:
(i) a microenterprise project that receives financial assistance from the Fund; and
(ii) a food desert project that receives financial assistance from the Fund.
Small business
(j) “Small business” means a business that qualifies as a small business under § 6-302 of this subtitle.
Sustainable community
(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.

Credits

Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005. Amended by Acts 2008, c. 36, § 6, eff. April 8, 2008; Acts 2008, c. 338, § 1, eff. Oct. 1, 2008; Acts 2010, c. 118, § 1, eff. Oct. 1, 2010; Acts 2010, c. 487, § 1, eff. June 1, 2010; Acts 2014, c. 228, § 1, eff. Oct. 1, 2014; Acts 2016, c. 482, § 2, eff. July 1, 2016; Acts 2019, c. 211, § 3, eff. July 1, 2019; Acts 2021, c. 91, § 1, eff. July 1, 2021.
MD Code, Housing & Community Development, § 6-301, MD HOUS & CMTY DEV § 6-301
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.
End of Document