§ 5-1603

Maryland § 5-1603

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 5

Text

(a) In order to qualify for participation in the Program, a new business must meet the criteria in this section.

(b) The business must:

(1) be located in a county that has a comparable support program to reduce office space vacancies in the county;

(2) be:

(i) a home–based start–up enterprise occupying its first commercial space in the county;

(ii) a business relocating from outside the State; or

(iii) a business significantly expanding its operations in the county;

(3) (i) execute a direct lease with the landlord for at least 3 years of not more than 10,000 square feet; or

(ii) obtain an occupancy permit, if sharing office space with another business; and

(4) apply for support from the Program within 90 days after signing the lease or obtaining the occupancy permit.

(c) The Program may exclude from support a business that is relocating from one county to another county within the State.

(d) A grant recipient that fails to fulfill the eligibility and maintenance requirements of the Program or of the county comparable program that supports the recipient may be required to return all or part of the grant to the Program.