§ 6-704

Maryland § 6-704

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

Text

(a) (1) A government agency, including a housing authority, with jurisdiction in the national capital region, an entity controlled directly or indirectly by a housing authority that operates in the national capital region, and, subject to paragraph (2) of this subsection, a community development organization are eligible to apply for program funds.

(2) A corporation, a foundation, or any other legal entity is a community development organization eligible to apply for Program funds if:

(i) the purpose of the organization is to implement a clear revitalization strategy in a neighborhood or set of neighborhoods within the national capital region; and

(ii) no part of the organization’s net earnings inures to the benefit of a private shareholder or an individual holding an interest in the entity.

(b) The eligible institution’s application must contain a neighborhood revitalization plan that includes community enhancement projects located within a sustainable community.

(c) An eligible institution may apply with another eligible institution or with a community development financial institution that has the capacity and experience to assist in the financing of real estate projects within the community.

(d) The community enhancement projects for which an eligible institution applies for Program funds may be located in more than one political subdivision.