2013 Maryland Code
HOUSING AND COMMUNITY DEVELOPMENT
§ 6-301 - Definitions

§6-301.

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

(b) (1) “Development costs” means the costs incurred to construct or rehabilitate a neighborhood business development project.

(2) “Development costs” includes the costs of:

(i) necessary studies, surveys, plans, and specifications;

(ii) architectural, engineering, or other special services, including flood plain studies, environmental audits, and critical area or wetland assessments;

(iii) land and improvements;

(iv) site preparation;

(v) construction, reconstruction, and rehabilitation;

(vi) machinery, equipment, and furnishings;

(vii) essential start-up operating costs, including working capital and initial occupancy expenses;

(viii) indemnity and surety bonds and premiums on insurance;

(ix) temporary relocation expenses; and

(x) other necessary fees.

(c) “Fund” means the Neighborhood Business Development Fund.

(d) “Microenterprise” means a business with not more than five employees that:

(1) requires not more than $35,000 in total start-up capital or financial assistance; and

(2) does not have access to the traditional commercial banking sector.

(e) “Program” means the Neighborhood Business Development Program.

(f) (1) “Project” means a neighborhood business development project that receives financial assistance from the Fund.

(2) “Project” includes a microenterprise project that receives financial assistance from the Fund.

(g) “Small business” means a business that qualifies as a small business under § 6-302 of this subtitle.

(h) “Sustainable community” means the part of a priority funding area that:

(1) as determined by the Smart Growth Subcabinet, satisfies the requirements of § 6-205 of this title;

(2) has been designated as a BRAC Revitalization and Incentive Zone under Title 5, Subtitle 13 of the Economic Development Article; or

(3) has been designated a transit-oriented development under § 7-101 of the Transportation Article.