Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 17 - COMMUNITY LEGACY › Chapter 05.17.01 - Community Legacy Program › Section 05.17.01.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Act" means Housing and Community Development Article, Title 6, Subtitle 2, Annotated Code of Maryland.
(2) "Application" means an application to the Department as described in Regulation .05 of this chapter.
(3) "Community development financial institution (CDFI)" means a certified community development financial institution as defined under 12 U.S.C. §
											4702, as amended.
(4) "Community development organization (CDO)" means a nonprofit organization that operates for the purpose of improving the physical, economic, or social environment of its geographic areas of operation.
(5) "Community legacy agreement" means an agreement between the Department and a Sponsor to implement one or more community legacy projects in a designated Sustainable Community.
(6) "Community legacy project" or "project" means a project submitted by a Sponsor to the Secretary for approval in accordance with the Act and this chapter for one or more of the following purposes:
(a) Create, improve, or preserve housing opportunities, including the acquisition, construction, rehabilitation, or improvement of new or existing homeownership or rental properties;
(b) Strategically demolish buildings or improvements that are dangerous for use or occupancy, or so deteriorated that rehabilitation is not feasible, to prepare the property for redevelopment or sale;
(c) Create, improve, or preserve mixed use or commercial development, including any appropriate combination of properties related to business, housing, open space, and institutional uses;
(d) Develop public infrastructure supporting the implementation of other revitalized projects, such as streets, parking, public utilities, landscaping, lighting, and improvements to pedestrian and bicycle circulation;
(e) Encourage and develop cooperative ownership and control of open space;
(f) Develop or create strategies targeted at increasing investment in existing communities, including outreach activities designed to attract business, capital, residents, and visitors, and the development and maintenance of resources directly related to the implementation of a community legacy project;
(g) Acquire or improve vacant buildings or unimproved land, including the practice of land banking;
(h) Provide financial assistance for a neighborhood intervention project; or
(i) Develop or implement any other community legacy project that the Department considers necessary to further the purposes of the Act.
(7) "Department" means the Department of Housing and Community Development, a principal department of the State.
(8) "Financial assistance" means a grant, loan, assurance, guarantee, other credit enhancement, reduction in the principal obligation of or in the rate of interest payable on a loan or portion of a loan, or prepayment of interest on a subordinate or superior loan or portion of a loan.
(9) "Fund" means the Community Legacy Financial Assistance Fund established under Housing and Community Development Article, §
										6-213, Annotated Code of Maryland.
(10) "Land banking" means the acquisition and holding of improved or unimproved property in anticipation of future development of the property, or to ensure that the future use of the property and improvements remains affordable.
(11) "Local government" means any of the 23 counties of the State, the City of Baltimore, a municipal corporation of the State subject to the provisions of the State Constitution, Article XI-E, or any of their duly authorized agencies or instrumentalities.
(12) "Mixed use" means a use that combines commercial, business, institutional, open space, and residential uses, or some combination of those uses, in the same building or on the same site.
(13) "Neighborhood intervention project" means a project sponsored by a local government or a CDFI that is for the purpose of:
(a) Buying properties that need rehabilitation and redeveloping the properties through rehabilitation, demolition, reconstruction, or reuse; or
(b) Demolishing property improvements and preparing properties for revitalization, redevelopment, or reuse.
(14) "Nonprofit organization" means a corporation, foundation, or other legal entity that specifies in its charter or bylaws that no part of the net earnings may inure to the benefit of a private shareholder or individual holding any interest in the entity.
(15) "Priority funding area" means an area designated as a priority funding area under State Finance and Procurement Article, § 5-7 B-02, Annotated Code of Maryland.
(16) "Program" means the Community Legacy Program established under the provisions of the Act.
(17) "Secretary" means the Secretary of Housing and Community Development.
(18) "Sponsor" means a local government, a group of local governments, a CDO, or a CDFI.
(19) "Subcabinet" means the smart growth subcabinet established under Chapter .02 of the Act.
(20) "Sustainable community" means the part of a priority funding area that has been designated a sustainable community in accordance with Chapter .02 of the Act.
(21) "Sustainable community plan" means a plan consisting of one or more community legacy projects or other revitalization projects that are located in a sustainable community.