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§ 6-704. Government agencies or community development organizations eligible to apply for progr...

West's Annotated Code of MarylandHousing and Community DevelopmentEffective: October 1, 2019

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 7. National Capital Strategic Economic Development Program (Refs & Annos)
Effective: October 1, 2019
MD Code, Housing & Community Development, § 6-704
§ 6-704. Government agencies or community development organizations eligible to apply for program funds
Currentness
Criteria for eligibility for Program funds
(a)(1) A government agency, including a housing authority, with jurisdiction in the national capital region, an entity controlled directly or indirectly by a housing authority that operates in the national capital region, and, subject to paragraph (2) of this subsection, a community development organization are eligible to apply for program funds.
(2) A corporation, a foundation, or any other legal entity is a community development organization eligible to apply for Program funds if:
(i) the purpose of the organization is to implement a clear revitalization strategy in a neighborhood or set of neighborhoods within the national capital region; and
(ii) 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 eligible institution's application must contain a neighborhood revitalization plan that includes community enhancement projects located within a sustainable community.
Joint application
(c) An eligible institution may apply with another eligible institution 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 an eligible institution applies for Program funds may be located in more than one political subdivision.

Credits

Added by Acts 2019, c. 732, § 2, eff. Oct. 1, 2019.
MD Code, Housing & Community Development, § 6-704, MD HOUS & CMTY DEV § 6-704
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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