Maryland Code, HOUSING AND COMMUNITY DEVELOPMENT 6-206
Terms Used In Maryland Code, HOUSING AND COMMUNITY DEVELOPMENT 6-206
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Legacy: A gift of property made by will.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) review each application and may request more information from the sponsor;
(2) accept public input on each application;
(3) submit each application to appropriate State units and appropriate members of the Smart Growth Subcabinet;
(4) consider any recommendation a State unit or member of the Smart Growth Subcabinet makes;
(5) consider geographic balance when reviewing applications; and
(6) give priority in awarding financial assistance to applicants that are likely to repay the financial assistance to a community development financial institution or to the Community Legacy Financial Assistance Fund.
(b) (1) The Department shall provide written notice to the political subdivision in which the proposed project is located.
(2) Except as provided in paragraph (5) of this subsection, the Department may not approve an application unless the political subdivision in which the proposed project is located approves the application by:
(i) resolution; or
(ii) letter, delivered to the Department by the political subdivision’s authorized designee, expressing support for the plan or project.
(3) If an application affects a sustainable community or an eligible opportunity zone entirely within a municipal corporation, the approval must come from the municipal corporation rather than the surrounding county.
(4) If an application affects a sustainable community or an eligible opportunity zone within more than one political subdivision, each political subdivision must approve it by:
(i) resolution; or
(ii) letter, delivered to the Department by the political subdivision’s authorized designee, expressing support for the plan or project.
(5) If the Department does not receive notice of approval or denial of an application from the affected jurisdictions within 45 days after notice of the proposed project is given in accordance with paragraph (1) of this subsection, the Department may approve the application.
(c) The Secretary shall award financial assistance to a sponsor or a sponsor’s designee:
(1) in the amount and of the type that the Secretary determines; and
(2) under the terms of a community legacy agreement.