Section 6-311 – False Statements or Reports
(a) (1) A person may not knowingly make or cause to be made a false statement or report in a document required to be submitted to the Department by an agreement relating to financial assistance under the Program. (2) An applicant for financial assistance under the Program may not knowingly make or cause to be made any false […]
Section 6-301 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) (1) “Development costs” means the costs incurred to develop, redevelop, or expand a neighborhood business development project. (2) “Development costs” includes the costs of: (i) necessary studies, surveys, plans, and specifications; (ii) architectural, engineering, or other special services, including flood plain studies, environmental audits, and critical area or wetland […]
Section 6-302 – Qualifying as a Small Business or Microenterprise
A business qualifies as a small business or a microenterprise if the number of its employees and the amount of its annual receipts do not exceed limits that the Department sets by regulation for a small business or a microenterprise.
Section 6-303 – Neighborhood Business Development Program
(a) There is a Neighborhood Business Development Program. (b) The purposes of the Program are: (1) in priority funding areas or eligible opportunity zones, to: (i) help develop, redevelop, or expand small businesses and microenterprises; (ii) stimulate investment by the private sector; (iii) invest in revitalization projects for small businesses and microenterprises; and (iv) stimulate political subdivisions to participate in developing and […]
Section 6-304 – Business Development Program — Established; Purpose
(a) There is a Business Development Program in the Neighborhood Business Development Program. (b) The Business Development Program shall provide financial assistance to projects in priority funding areas or eligible opportunity zones.
Section 6-305 – Business Development Program — Financial Assistance for Small Businesses
(a) (1) A small business, nonprofit organization, or microenterprise may apply for financial assistance under the Business Development Program. (2) The Department shall review each application. (b) An applicant may qualify for financial assistance for a project in a priority funding area or an eligible opportunity zone if the application demonstrates that: (1) the financial assistance from the Fund is […]
Section 6-307 – Business Development Program — Financial Assistance for Project Development Costs
(a) Financial assistance under the Business Development Program shall be on the terms that the Department considers necessary to make the project financially feasible. (b) Financial assistance under the Business Development Program may be used for: (1) a part of the development costs of a project; (2) the development costs, working capital, or business expenses of a microenterprise project; […]
Section 6-308 – Business Development Program — Administration
(a) The Department shall: (1) administer the Business Development Program; (2) adopt regulations to carry out the Business Development Program, including a process to designate an area as a food desert under subsection (c) of this section; and (3) make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises. (b) The […]
Section 6-308.1 – Administration of Financial Assistance
(a) If the Department determines that an entity is capable of administering financial assistance under the Program, the entity may originate and administer financial assistance in accordance with standards the Department adopts by regulation. (b) (1) The Department shall adopt regulations to establish standards for determining the eligibility of an entity to administer financial assistance under the Program. […]
Section 6-308.2 – Interagency Food Desert Advisory Committee
(a) There is an Interagency Food Desert Advisory Committee. (b) The Committee consists of the following seven members: (1) the Secretary, or the Secretary’s designee; (2) the Secretary of Agriculture, or the Secretary’s designee; (3) the Secretary of Planning, or the Secretary’s designee; (4) the Secretary of Health, or the Secretary’s designee; (5) the Secretary of Human Services, or the Secretary’s designee; […]