Maryland Administrative Code

.27 Fund Administration. A. The Program shall be operated with moneys in the Neighborhood Business Development Fund, which is a continuing, nonlapsing special fund consisting of those items as provided for in Housing and Community Development Article, Title 6, Subtitle 3, Annotat…

.28 Waiver. The Secretary may waive or vary provisions of this chapter: A. To the extent that the waiver or variance is consistent with Housing and Community Development Article, Title 6, Subtitle 3, Annotated Code of Maryland; and B. If, in the written determination of the Secre…

.29 False Statements. A. A person may not knowingly make or cause to be made a false statement or report in any document required to be furnished to the Department in connection with a loan under the Program. B. A person applying for or benefiting from a loan under the Program ma…

.01 Purpose. This chapter provides policies and procedures for the Department to certify and enroll loans from financial institutions to eligible minority business enterprises and small businesses under the Linked Deposit Program, established pursuant to the State Finance and Pro…

.02 Definitions. A. In this chapter, the following words have the meanings indicated. B. Terms Defined. (1) “Certified minority business enterprise” means a minority business enterprise certified under State Finance and Procurement Article, Title 14, Subtitle 3, Annotated Code of…

.03 Eligible Loans. A. A loan is eligible under the Program if the loan: (1) Is made by a financial institution that is eligible to participate in the Program under Regulation .04B of this chapter; (2) Meets the financial institution's lending criteria; (3) Has a term not exceedi…

.04 Program Eligibility. A. To be eligible to receive a Program loan, an applicant shall be a certified minority business enterprise or a small business. B. To be eligible to make Program loans, a financial institution shall be designated by the Treasurer's office as a depository…

.05 Initial Loan Application. A. An applicant may choose to submit an application directly to: (1) One or more participating financial institutions; or (2) The Department, to be forwarded to all participating financial institutions. B. For an application submitted directly to a f…

.06 Financial Institution Application. A. If a financial institution decides to offer the applicant a loan, it shall: (1) Provide the applicant and the Department with a commitment letter describing the terms and conditions of the loan, including the interest rate and fees charge…

.07 Closing and Enrollment Procedures. A. Notification. Within 3 business days of receiving a Program loan, the borrower shall notify the Department that the loan has closed. B. Forms. Applications for enrollment of a loan under the Program by the financial institutions shall be …

.08 Maintaining Certified Minority Business or Small Business Status. A. A borrower that receives a Program loan shall maintain its status as a certified minority business enterprise or a small business for the term of the Program loan. B. The Department shall notify the Treasure…

.09 Other Laws. The requirements of this chapter are in addition to any other State, federal, and local laws or regulations that are applicable to the financial institution, and do not preempt or supersede any of those requirements.

.10 Program Administration. A. The Secretary may waive or vary provisions of this chapter: (1) To the extent that the waiver or variance is consistent with State Finance and Procurement Article, §6-211, Annotated Code of Maryland; and (2) If, in the written determination of the S…

.01 General. This chapter prescribes the policies, procedures, and authorizations for designating areas as food deserts and providing financial assistance to eligible small businesses and other food-related enterprises that provide fresh fruits, vegetables, and other healthy food…

.02 Definitions. A. In this chapter, the following words have the meanings indicated and as defined in the Act. B. Terms Defined. (1) “Advisory Committee” means the Interagency Food Desert Advisory Committee established under Housing and Community Development Article, §6-308.2, A…

.03 Food Desert Designation Application. A. An application for a food desert designation shall be submitted by a local government or local governments. B. An application for a food desert designation shall be submitted to the Department on forms prescribed by the Department and i…

.04 Food Desert Designation Application Processing. A. Application Evaluation. (1) Each application shall be submitted to the Department to determine whether all of the information required under Regulation .03 of this chapter is contained in the application. (2) Upon receipt of …

.05 Designation of a Food Desert. A. The Secretary, on the recommendation of the Advisory Committee, may designate an area as a food desert. B. If the Secretary determines not to designate all or part of an area as a food desert, the Secretary shall issue a written notice of deni…

.06 Modification of a Food Desert Designation. A. An applicant may submit modifications to a food desert designation to the Department in accordance with the schedule that the Department establishes. B. The Secretary, on the recommendation of the Advisory Committee, may approve m…

.07 Eligible Projects. In order to be eligible for financial assistance, a project shall satisfy the following requirements: A. The project is in a food desert; B. The project will provide fresh fruits, vegetables, and other healthy foods to residents in food deserts; C. The proj…

.08 Terms and Conditions of Financial Assistance. A. The financial assistance from the Program shall be on such terms as the Department considers necessary to make the project financially feasible. B. Financial assistance in the form of a loan from the Program may be secured, at …

.09 Limitations on Financial Assistance. A. Minimum Amount of Financial Assistance. (1) The minimum amount of financial assistance from the Program to a project is $1,000. (2) The maximum amount of financial assistance from the Program to a project may not exceed 50 percent of to…

.10 Food Desert Project Applications and Processing. A. An application for financial assistance shall be submitted to the Department and shall be made upon standard forms prescribed by the Department. B. Each application shall: (1) Contain the applicant’s organizational documents…

.11 Books and Accounts. Applicants, contractors, and subcontractors shall maintain such books, accounts, and records and shall file with the Department such financial and other reports as the Department may from time to time require. All of these books, accounts, and records shal…

.12 Fees and Charges. The Department may charge fees related to the processing of an application for financial assistance and servicing of financial assistance.

.13 Loan Administration by Approved Entities. A. General. The Department may approve non-profit and for-profit entities to originate and administer loans to food desert projects in accordance with this chapter. B. To be eligible to administer a loan program, the entity must submi…

.14 Program Administration. The Program may establish, from time to time, detailed Program guidelines containing underwriting standards, processing requirements, and other requirements or matters relating to providing financial assistance.

.15 Nondiscrimination. A. An applicant may not discriminate against a person on the basis of race, color, religion, national origin, sex, sexual orientation, marital status, physical or mental disability, or age, except with regard to age as permitted under the federal Housing fo…

.16 Waiver. The Secretary may waive or vary provisions of these regulations to the extent that the waiver or variance is consistent with the Act and if, in the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation …

.17 False Statements. A. A person may not knowingly make or cause to be made a false statement or report in any document required to be furnished to the Department by an agreement relating to financial assistance. B. A person applying for or benefiting from financial assistance u…

.01 General. This chapter prescribes the policies, procedures, and authorizations for providing financial assistance to eligible business projects from the Community Development Administration, an agency in the Division of Development Finance of the Department of Housing and Comm…

.02 Definitions. A. In this chapter, the following terms have the meanings indicated and as defined in the Act. B. Terms Defined. (1) “Act” means Housing and Community Development Article, Title 4, Subtitle 2, Annotated Code of Maryland. (2) “Administration” means the Community D…

.03 Eligible Applicants. To qualify as an eligible recipient of financial assistance, an applicant shall: A. If a nonprofit organization, corporation, or partnership, be in good standing and qualified to do business in Maryland; B. Have the legal capacity and all necessary author…

.04 Eligible Projects. To be eligible for financial assistance, business projects shall be: A. Properly zoned for the proposed use; B. If involving construction or renovation, rehabilitated, constructed, and operated in accordance with the applicable federal, State, and local bui…

.05 General Requirements. A. Financial assistance may be used for the development costs of a business project. B. The Administration shall establish interest rates and fees for the financial assistance based on the underwriting of each project. C. Terms for repayment of principal…

.06 Liability and Other Insurance. A. The borrower shall maintain property, fire, and extended coverage insurance on the real and personal property comprising a project both during and after construction. B. If the project is located on real property in the 100-year flood plain, …

.07 Additional Requirements. A. In addition to a promissory note and security agreement, the Administration may require the borrower to execute or provide additional loan documents, which may include any of the following: (1) A loan agreement; (2) An agreement and declaration of …

.08 Applications and Processing. A. An application for financial assistance shall be submitted to the Department and shall be made upon standard forms prescribed by the Department. B. Each application shall: (1) Be submitted by an eligible applicant as described in Regulation .03…

.09 Books and Accounts. A. Applicants, contractors, and subcontractors shall maintain such books, accounts, and records and shall file with the Department such financial and other reports as the Department may from time to time require. B. All of the books, accounts, and records …

.10 Program Administration. A. The Administration may establish from time to time detailed Program guidelines containing underwriting standards, processing requirements, and other requirements or matters relating to providing financial assistance. B. The Department may charge and…

.11 Nondiscrimination and Drug-Free and Alcohol-Free Workplace. A. An applicant or contractor may not discriminate on the basis of race, color, religion, national origin, sex, marital status, physical or mental disability, sexual orientation, or age, except with regard to age as …

.12 Waiver. The Secretary may waive or vary provisions of these regulations to the extent that the waiver or variance is consistent with the Act and if, in the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation …

.13 False Statements. An applicant or recipient of financial assistance who knowingly makes or causes to be made a false statement or report, whether in the nature of an understatement or overstatement of financial condition or any other fact material to the Department's action, …

.01 General. This chapter prescribes the policies, procedures, and authorizations for allocating tax credits to business entities and individuals that contribute to approved projects of nonprofit organizations that provide services to priority funding areas.

.02 Purpose and Objectives. A. The purpose of the Program is to improve the well-being of people and the health of communities in priority funding areas by strengthening the ability of nonprofit organizations serving those areas to build partnerships with private sector businesse…

.03 Definitions. A. In General. (1) In this chapter, the following terms have the meanings indicated and as defined in the Act. (2) Any terms also appearing in the Internal Revenue Code have the meanings defined there as well. B. Terms Defined. (1) “Act” means the Neighborhood an…

.04 Eligibility Standards for Approved Projects. A. A project shall be submitted for approval by a nonprofit organization. B. In order to be eligible for approval under the Program, the project shall satisfy the following requirements: (1) The project shall provide services to a …