(a) Proceeds of a Program loan shall be used only for:
(1) property acquisition and development costs for the construction of a net-zero home or low-energy home; and
(2) settlement and closing costs.
(b) A Program loan shall be secured by a mortgage lien that:
(1) may be subordinate to other mortgage liens; and
(2) may include terms, including deferred payment of principal and interest, that the Department considers necessary to make the project viable.
(c) To apply for a loan under this subtitle, an applicant shall submit:
(1) a completed application in a form that the Department requires;
(2) information on projected energy usage, project design, and marketing data; and
(3) any other information or documentation that the Department considers necessary to make a determination on the loan.
(d) (1) The Department may give a preference to an application for:
(i) a net-zero home; or
(ii) a project that includes financing from other sources in addition to the Program loan.
(2) In providing assistance under the Program for a net-zero home, the Department shall give preference to applications that will use the services of small, minority, women-owned, and veteran-owned businesses in the State in the clean energy industry, particularly businesses that provide employment for individuals trained through workforce development programs supported by the Strategic Energy Investment Fund under § 5-1501 of the Economic Development Article and through the Clean Energy Workforce Account under § 11-708.1 of the Labor and Employment Article.