§ 4-1001

Maryland § 4-1001

• Jurisdiction: Maryland
• Article ghs: Housing and Community Development
• Title: 4

Text

(a) In this subtitle the following words have the meanings indicated.

(b) “Fund” means the Neighborhood Housing Services Fund.

(c) “Neighborhood corporation” means a neighborhood housing services corporation established in connection with the Neighborhood Reinvestment Corporation.

(d) (1) “Operating budget” means the money necessary to operate a neighborhood corporation, including money to pay:

(i) administrative, technical, legal, or other expenses; and

(ii) expenses incurred by an umbrella corporation in operating programs.

(2) “Operating budget” does not include money allocated to revolving or other loan funds.

(e) “Program” means a program that a neighborhood corporation establishes and supervises to achieve its goals and to provide services within a specific neighborhood.

(f) “Umbrella corporation” means a neighborhood corporation that establishes and supervises at least two programs.