(a)Section 18–301 of this article applies to the use of federal or State financial assistance for commercial or industrial redevelopment projects.
(b)(1) In this subsection, “authority” means a commercial district management authority.
(2)A municipality may establish an authority for any commercial district in the municipality.
(3)For each authority established, a municipality shall:
(i)specify the membership, organization, jurisdiction, and geographical limits of the authority;
(ii)provide financing for the authority through fees that may be charged to, or taxes that may be imposed against, any business subject to the authority’s jurisdiction; and
(iii)specify the purposes of the authority, includ
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(a) Section 18–301 of this article applies to the use of federal or State financial assistance for commercial or industrial redevelopment projects.
(b) (1) In this subsection, “authority” means a commercial district management authority.
(2) A municipality may establish an authority for any commercial district in the municipality.
(3) For each authority established, a municipality shall:
(i) specify the membership, organization, jurisdiction, and geographical limits of the authority;
(ii) provide financing for the authority through fees that may be charged to, or taxes that may be imposed against, any business subject to the authority’s jurisdiction; and
(iii) specify the purposes of the authority, including:
1. promotion;
2. marketing; or
3. the provision of security, maintenance, or amenities in the district.
(4) An authority may not:
(i) exercise the power of eminent domain;
(ii) purchase, sell, construct, or lease, as lessor, office or retail space; or
(iii) except as otherwise authorized by law, engage in competition with the private sector.
(5) Any fee or tax imposed under this subsection shall be used only for the purposes stated in this subsection and may not revert to the general fund of the municipality.