Section 15-102 – Legislative Findings; Purpose
(a) The General Assembly finds that: (1) while State and privately funded transit–oriented development is paramount and necessary for the orderly economic development of the State, such development should be pursued in a manner that extends benefits to and minimizes negative impacts on the communities in and adjacent to the development; (2) in order to preserve and enhance […]
Section 15-103 – Applicability of Title
This title applies only in Baltimore City.
Section 15-104 – Fund Established; Nature
(a) There is a Baltimore City Community Enhancement Transit–Oriented Development Fund. (b) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
Section 15-105 – Purpose; Accounting; Composition
(a) The purpose of the Fund is to promote and assist community–based initiatives in qualified project areas consistent with the purpose of this title. (b) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund. (c) (1) The Fund consists of: (i) money appropriated in the State budget to the Fund; (ii) proceeds of bonds […]
Section 15-106 – Use
The Fund may be used by the Mayor and City Council of Baltimore City or awarded to a qualified recipient by the Mayor and City Council only for: (1) operating support for or building the capacity of qualified recipients; (2) economic and physical improvements to the community through projects that reinvest in and revitalize the community; (3) the […]
Section 15-107 – Investments
(a) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested. (b) Any investment earnings of the Fund shall be paid into the Fund.