(a) In this subtitle the following words have the meanings indicated. (b) “Application” means an application to the Secretary that includes a request to: (1) designate an area as a sustainable community; (2) approve a sustainable community plan; or (3) approve a community legacy project. (c) “Community development financial institution” has the meaning stated in 12 U.S.C. § 4702. (d) “Community development […]
(a) There is a Community Legacy Program. (b) The Department shall administer the Program. (c) The purposes of the Program are to: (1) preserve existing communities as desirable places to live and conduct business to reduce outward pressure for sprawl development; and (2) provide financial assistance to sponsors or their designees to develop sustainable community plans or community legacy projects. […]
A corporation, foundation, or other legal entity qualifies as a community development organization if: (1) its purpose is to improve the physical, economic, or social environment of the area where it operates; and (2) no part of its net earnings inures to the benefit of a private shareholder or individual holding an interest in that entity.
(a) A sponsor may file one or more applications in accordance with the schedules that the Department establishes. (b) An application shall set forth: (1) a description of one or more sustainable communities where the sponsor proposes to develop a sustainable community plan or to carry out a community legacy project using the standards listed in § 6–205 […]
(a) The Smart Growth Subcabinet, on the recommendation of the Secretary, may designate an area as a sustainable community if the sponsor demonstrates that past and current trends in homeownership, property values, commercial and residential vacancy, and business or housing investment show a need for reinvestment in the area and if: (1) entities in the community, such […]
(a) The Department shall: (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; […]
(a) The Department and the sponsor shall execute a community legacy agreement. (b) The sponsor shall comply with the terms of the community legacy agreement and any regulations the Department adopts to carry out this subtitle. (c) Not more than 15% of the total financial assistance that the Program provides may be used for noncapital expenditures. (d) The Department […]
(a) Subject to this section, the Department has the powers necessary or desirable to implement the Program. (b) (1) The Department may determine the terms and conditions for financial assistance awarded under § 6–206(c) of this subtitle. (2) Financial assistance may be secured by a mortgage, lien, or security interest that is superior to or subordinate to other mortgages, […]
(a) The purposes of a neighborhood intervention project are to provide financial assistance for: (1) buying properties that need rehabilitation and redeveloping the properties through rehabilitation, demolition, reconstruction, or re–use; or (2) demolishing property improvements and preparing property for revitalization, redevelopment, or re–use. (b) To be eligible for financial assistance for a neighborhood intervention project, an applicant shall be: […]
(a) The sponsor shall submit to the Department quarterly progress reports on the development of a sustainable community plan or the implementation of a community legacy project. (b) (1) The Department shall submit an annual report to the Governor and, subject to § 2–1257 of the State Government Article, to the General Assembly on or before each October […]
(a) In this section, “Fund” means the Community Legacy Financial Assistance Fund. (b) There is a Community Legacy Financial Assistance Fund. (c) The Fund shall be used to carry out this subtitle. (d) (1) The Secretary shall administer the Fund in accordance with this subtitle. (2) The State Treasurer shall hold and the Comptroller shall account for the Fund. (e) The Fund […]
(a) Subject to subsection (b) of this section, a sustainable community shall receive priority for State funding under the: (1) Community Legacy Program under this subtitle; (2) Sustainable Communities Tax Credit Program for commercial properties under Title 5A, Subtitle 3 of the State Finance and Procurement Article; (3) Neighborhood Business Development Program under Subtitle 3 of this title; (4) Maryland […]
