Section 6-710 – National Capital Strategic Economic Development Fund
(a) In this section, “Fund” means the National Capital Strategic Economic Development Fund. (b) There is a National Capital Strategic Economic Development Fund. (c) The purpose of the Fund is to provide financial assistance under the Program. (d) The Department shall administer the Fund. (e) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of […]
Section 6-604 – Community Development Board
(a) There is a Community Development Board in the Program. (b) The Board consists of the following members: (1) the Secretary, or the Secretary’s designee; and (2) the following members, appointed by the Governor, in consultation with the President of the Senate and the Speaker of the House: (i) one representative of the Community Development Network of Maryland; (ii) one representative […]
Section 6-801 – Mobile Laundry for the Homeless Pilot Program — Purpose — Administered — Matching Grants — Eligibility — Outcome Measurement [Subtitle Subject to Abrogation]
// EFFECTIVE UNTIL SEPTEMBER 30, 2025 PER CHAPTER 255 OF 2021 // (a) (1) In this section the following words have the meanings indicated. (2) “Division” means the Division of Neighborhood Revitalization in the Department. (3) “Mobile laundry services” means the washing, drying, and folding of clothes performed from a vehicle equipped with washing and drying machines. (4) “Pilot Program” […]
Section 6-605 – Duties
The Board shall: (1) make recommendations on how the Fund is to be used; (2) provide a period of at least 30 days for public comment on the recommendations; and (3) report on or before December 31 each year on the activities of the Fund and make any recommendations regarding the Fund to the Governor and, in accordance […]
Section 6-901 – Catalytic Revitalization Project Defined
In this subtitle, “catalytic revitalization project” means the substantial rehabilitation of a property in the State: (1) that was formerly owned by the State or the federal government; (2) the rehabilitation of which will foster economic, housing, and community development within the community in which the property is located; and (3) that is out of service and was […]
Section 6-606 – Community Development Fund
(a) There is a Community Development Fund. (b) The purpose of the Fund is to provide financial assistance for community development projects and community development organizations around the State. (c) The Department shall administer the Fund with the assistance of the Board. (d) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the […]
Section 6-902 – Tax Credit for Catalytic Revitalization Project — When Recapture of Tax Credit Not Allowed
(a) An individual, a nonprofit organization, or a business entity may claim a tax credit in an amount equal to 20% of the amount stated in the final tax credit certificate issued by the Secretary under § 6–903 of this subtitle for 5 consecutive taxable years beginning with the taxable year in which the catalytic revitalization […]
Section 6-501 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Community development financial institution” has the meaning stated in 12 U.S.C. § 4702. (c) “Community development organization” means an entity that meets the requirements set forth under § 6–504(a) of this subtitle. (d) (1) “Financial assistance” means a grant, a loan, or an investment provided under this subtitle. […]
Section 6-502 – Program Established
(a) There is a Baltimore Regional Neighborhood Initiative Program. (b) The Department shall administer the Program. (c) The purpose of the Program is to: (1) provide strategic investment in local housing and businesses to encourage healthy, sustainable communities with a growing tax base and enhanced quality of life; and (2) focus on areas where modest investment and coordinated strategies will […]
Section 6-503 – Use of Program Funds
(a) The community enhancement projects eligible to receive Program funds include: (1) down payment assistance for homebuyers to purchase and rehabilitate homes; (2) programs to acquire or rehabilitate vacant or blighted properties; (3) programs to improve existing residential and business properties; (4) programs to achieve energy efficiency through weatherization and energy retrofits; (5) development of mixed–use projects that combine housing, retail, […]