§ 6-701

Maryland § 6-701

• Jurisdiction: Maryland
• Article ghs: Housing and Community Development
• Title: 6

Text

(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 under § 6–704 of this subtitle.

(d) (1) “Financial assistance” means a grant, a loan, or an investment provided under this subtitle.

(2) “Financial assistance” includes:

(i) an assurance;

(ii) a guarantee;

(iii) a prepayment of interest on a subordinate or superior loan or portion of a loan;

(iv) a reduction in the principal obligation of or rate of interest payable on a loan or a portion of a loan; and

(v) any other form of credit enhancement.

(e) “National capital region” means the areas of the State located within a sustainable community in Montgomery County or Prince George’s County.

(f) “Program” means the National Capital Strategic Economic Development Program.

(g) “Sustainable community” means an area designated as a sustainable community under § 6–205 of this title.