reglab/statecodes huggingface dataset:
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
This chapter prescribes the policies, procedures, and authorizations for designating areas as food deserts and providing financial assistance to eligible small businesses and other food-related enterprises that provide fresh fruits, vegetables, and other healthy foods to residents in food deserts.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following words have the meanings indicated and as defined in the Act.
B. Terms Defined.
(1) "Advisory Committee" means the Interagency Food Desert Advisory Committee established under Housing and Community Development Article, §
										6-308.2, Annotated Code of Maryland.
(2) "Business" means a commercial or industrial enterprise.
(3) "Department" means the Department of Housing and Community Development, a principal department of the State.
(4) "Financial assistance" means any form of grant, loan, assurance, guarantee, or other credit enhancement, reduction in the principal obligation of or in the rate of interest payable on a loan or portion of a loan, and prepayment of interest on a subordinate or superior loan or portion of a loan.
(5) "Financial assistance documents" means those documents executed by an approved applicant and the Department which set forth the terms and conditions of financial assistance under the Program.
(6) "Food desert" means that part of priority funding area designated by the Secretary under Regulation .05 of this chapter.
(7) "Food desert project" or "project" means a project or activity which qualifies for financial assistance under the Program.
(8) "Local jurisdiction" means:
(a) A municipal corporation subject to the provisions of the State Constitution, Article XI-E; or
(b) Any of the 23 counties of the State and the Mayor and City Council of Baltimore.
(9) "Nonprofit organization" means a corporation, foundation, or other entity that specifies in its charter or bylaws that no part of the net earnings may inure to the benefit of any private shareholder or individual holding any interest in the entity.
(10) "Program" means the Business Development Program, also known as the Neighborhood Business Works Program.
(11) "Small business" means a business that employs a number of employees, or has annual gross receipts, no greater than the limits set forth by the U.S. Small Business Administration.
(12) "Secretary" means the Secretary of Housing and Community Development.
(13) "State" means the State of Maryland.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.03 - Food Desert Designation Application

Current through Register Vol. 51, No. 14, July 12, 2024
A. An application for a food desert designation shall be submitted by a local government or local governments.
B. An application for a food desert designation shall be submitted to the Department on forms prescribed by the Department and in accordance with the schedule that the Department establishes.
C. An application for a designation shall provide:
(1) A detailed map and description of the proposed food desert demonstrating the proposed areas within a priority funding area;
(2) Information and data on the:
(a) Availability of fresh fruit, vegetables, and other healthy foods in the area;
(b) Income levels of local residents; and
(c) Transportation needs of local residents and the availability of public transportation;
(3) Any comments the applicant has received from the local governments or community; and
(4) Any other information that the Department considers relevant.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.04 - Food Desert Designation Application Processing

Current through Register Vol. 51, No. 14, July 12, 2024
A. Application Evaluation.
(1) Each application shall be submitted to the Department to determine whether all of the information required under Regulation .03 of this chapter is contained in the application.
(2) Upon receipt of all required information, the Department shall:
(a) Convene the Advisory Committee to:
(i) Review applications;
(ii) Provide assistance and guidance to applicants; and
(iii)  Make recommendations to the Secretary;
(b) Refer the application to other State agencies for comment, as the Department considers appropriate;
(c) Consider any recommendation from a State unit; and
(d) Analyze each application to determine whether the proposed food desert merits designation.
(3) The Advisory Committee or the Department may request additional information from the applicant concerning an application, including oral presentations.
(4) Upon completion of the requirements in §A(1)-(3) of this regulation, the Advisory Committee shall make a recommendation on the application to the Secretary after considering the:
(a) Availability of fresh fruit, vegetables, and other healthy foods in the area;
(b) Income levels of local residents;
(c) Transportation needs of local residents and the availability of public transportation;
(d) Comments from local governments and other State agencies; and
(e) Any other factors that the Advisory Committee considers relevant.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.05 - Designation of a Food Desert

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Secretary, on the recommendation of the Advisory Committee, may designate an area as a food desert.
B. If the Secretary determines not to designate all or part of an area as a food desert, the Secretary shall issue a written notice of denial with an evaluation and explanation of the denial.
C. Reconsiderations.
(1) An applicant may request initial reconsideration of a denial by submitting a written request to the Secretary.
(2) The request for reconsideration must be received within 30 days following the date of the denial notice.
(3) The request for reconsideration shall address each reason for the denial and provide documentation supporting reasons for reconsideration of the application.
(4) The Secretary shall respond in writing to the applicant's request for reconsideration within 90 days of receipt of the request for reconsideration.
(5) An initial decision or reconsideration of a decision is not a contested case within the meaning of the Administrative Procedure Act or COMAR 05.01.01.02.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.06 - Modification of a Food Desert Designation

Current through Register Vol. 51, No. 14, July 12, 2024
A. An applicant may submit modifications to a food desert designation to the Department in accordance with the schedule that the Department establishes.
B. The Secretary, on the recommendation of the Advisory Committee, may approve modifications to a food desert designation.
C. Regulations .03-.05 of this chapter shall apply to the procedures and approval process for modifying a food desert designation.
D. The Department may establish an abbreviated application for modifying a food desert designation.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.07 - Eligible Projects

Current through Register Vol. 51, No. 14, July 12, 2024
In order to be eligible for financial assistance, a project shall satisfy the following requirements:
A. The project is in a food desert;
B. The project will provide fresh fruits, vegetables, and other healthy foods to residents in food deserts;
C. The project has a commitment of monies from private, local, or federal funds so that upon receipt of financial assistance under the Program there will be adequate funding to assure completion of the project;
D. As determined by the Department, the project is not feasible but for the financial assistance from the Program and the financial assistance requested is the least amount of money necessary to complete the project;
E. The financial assistance from all State government sources, including but not limited to the Program, may not exceed 50 percent of total project costs;
F. The project is ready to proceed upon receipt of financial assistance under the Program;
G. Each local jurisdiction in which the project is located has adopted a local resolution, or its authorized designee has delivered a letter to the Program, expressing support for the project;
H. The operating income and expenses projected for the project show income sufficient, in the sole discretion of the Department, to repay on schedule any loans authorized or guaranteed by the Program; and
I. Upon completion, the project will be in compliance with all applicable zoning requirements and standards as well as the applicable building code of the local jurisdiction in which the project is located.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.08 - Terms and Conditions of Financial Assistance

Current through Register Vol. 51, No. 14, July 12, 2024
A. The financial assistance from the Program shall be on such terms as the Department considers necessary to make the project financially feasible.
B. Financial assistance in the form of a loan from the Program may be secured, at the discretion of the Department, by a security instrument described in §C of this regulation, which may be subordinate to other security interests.
C. The security shall be acceptable to the Department and may be:
(1) A mortgage or deed of trust lien;
(2) A cash escrow;
(3) A letter of credit;
(4) A pledge of depository accounts;
(5) A pledge of accounts receivable;
(6) An assignment of income;
(7) A security interest in machinery and equipment; or
(8) Any other form of security or collateral acceptable to the Department.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.09 - Limitations on Financial Assistance

Current through Register Vol. 51, No. 14, July 12, 2024
A. Minimum Amount of Financial Assistance.
(1) The minimum amount of financial assistance from the Program to a project is $1,000.
(2) The maximum amount of financial assistance from the Program to a project may not exceed 50 percent of total project costs.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.10 - Food Desert Project Applications and Processing

Current through Register Vol. 51, No. 14, July 12, 2024
A. An application for financial assistance shall be submitted to the Department and shall be made upon standard forms prescribed by the Department.
B. Each application shall:
(1) Contain the applicant's organizational documents, including as applicable its articles of incorporation and bylaws, its articles of organization and operating agreement, its certificate of limited partnership and limited partnership agreement, or its partnership or joint venture agreement;
(2) Contain a description of the project;
(3) Contain proof of the dollar amount committed to the project from private and non-State public resources, and proof of any applications submitted to private and non-State public sources of financing for the project except that if the applicant is not applying to any private or non-State public resources, the Program may request additional information which would have been contained in those applications;
(4) Contain sufficient information to determine that the:
(a) Project is located in a food desert;
(b) Project is eligible in accordance with Regulation .07 of this chapter; and
(c) Terms and requirements of financial assistance as set forth in Regulation .08 of this chapter can be met; and
(5) Contain the following additional information:
(a) The number and types of jobs to be created or retained by the project;
(b) The amount, size, and types of commercial or industrial space to be created or retained;
(c) The cost of the project;
(d) A project budget identifying all sources and uses of project development funds;
(e) Except for projects seeking financial assistance for minor rehabilitation, a pro forma showing anticipated project revenue, expenses, and debt service and other indebtedness of the project;
(f) Identification of the revenues which can be used to repay the financial assistance provided by the Program; and
(g) Other and further information as the Program may request.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.11 - Books and Accounts

Current through Register Vol. 51, No. 14, July 12, 2024
Applicants, contractors, and subcontractors shall maintain such books, accounts, and records and shall file with the Department such financial and other reports as the Department may from time to time require. All of these books, accounts, and records shall be open to the inspection of representatives of the Department or other agencies of the State during reasonable working hours. Books, accounts, and records of contractors and subcontractors shall be maintained and made available for inspection for 3 years past the date of termination of the contractual relationship between the contractor and the applicant.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.12 - Fees and Charges

Current through Register Vol. 51, No. 14, July 12, 2024
The Department may charge fees related to the processing of an application for financial assistance and servicing of financial assistance.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.13 - Loan Administration by Approved Entities

Current through Register Vol. 51, No. 14, July 12, 2024
A. General. The Department may approve non-profit and for-profit entities to originate and administer loans to food desert projects in accordance with this chapter.
B. To be eligible to administer a loan program, the entity must submit an application to the Department and meet the following minimum criteria to the satisfaction of the Department:
(1) Provide evidence satisfactory to the Department supporting the entity's demonstrated ability to:
(a) Manage a performing portfolio of business loans for a minimum period of 5 years;
(b) Evaluate loan applications, underwrite loans, and administer a loan program;
(c) Leverage Program proceeds with other private or public sources of funding;
(d) Comply with Program statutes, regulations, guidelines, and policies;
(e) Provide adequate resources and staff to implement the Program, including staff trained to efficiently:
(i) Process loan applications, draw schedules, and other loan documentation;
(ii) Evaluate loan portfolio performance; and
(iii) Monitor the work performed with the loan proceeds;
(f) Provide substantive technical assistance to borrowers;
(g) Obtain coverage by a fidelity bond or employee dishonesty liability insurance in an amount to be determined by the Department; and
(h) Be duly organized and in good standing in the State of Maryland; and
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.14 - Program Administration

Current through Register Vol. 51, No. 14, July 12, 2024
The Program may establish, from time to time, detailed Program guidelines containing underwriting standards, processing requirements, and other requirements or matters relating to providing financial assistance.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.15 - Nondiscrimination

Current through Register Vol. 51, No. 14, July 12, 2024
A. An applicant may not discriminate against a person on the basis of race, color, religion, national origin, sex, sexual orientation, marital status, physical or mental disability, or age, except with regard to age as permitted under the federal Housing for Older Persons Act, as amended from time to time, in any aspect of the Program.
B. An applicant shall comply with all applicable federal, State, and local laws and Department policies and programs regarding discrimination and equal opportunity in employment, housing, credit practices, and drug and alcohol free workplaces, including:
(1) Titles VI and VII of the Civil Rights Act of 1964, as amended;
(2) Title VIII of the Civil Rights Acts of 1968, as amended;
(3) The Fair Housing Amendments Act of 1988, as amended;
(4) The Department's Minority Business Enterprise Program, as amended;
(5) The Governor's Executive Order 01.01.1989.18 on Drug and Alcohol Free Workplaces, and any Department or State regulations adopted or to be adopted to carry out the requirements of that Order;
(6) State Government Article, Title 20, Annotated Code of Maryland, as amended; and
(7) The Americans with Disabilities Act of 1990, as amended.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.16 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary provisions of these regulations to the extent that the waiver or variance is consistent with the Act and if, in the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.06 - Food Desert Designation and Financing › Section 05.13.06.17 - False Statements

Current through Register Vol. 51, No. 14, July 12, 2024
A. A person may not knowingly make or cause to be made a false statement or report in any document required to be furnished to the Department by an agreement relating to financial assistance.
B. A person applying for or benefiting from financial assistance under the Program may not knowingly make or cause to be made a false statement or report for the purpose of influencing the action of the Department on an application or for the purpose of influencing the action of the Department affecting financial assistance already provided.
C. A person who violates §A or B of this regulation is:
(1) Subject to immediate cancellation or acceleration of the form of financial assistance provided by the Program; and
(2) Guilty of a misdemeanor and upon conviction is subject to a fine not exceeding $50,000, imprisonment not exceeding 5 years, or both.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
This chapter prescribes the policies, procedures, and authorizations for providing financial assistance to eligible business projects from the Community Development Administration, an agency in the Division of Development Finance of the Department of Housing and Community Development.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.03 - Eligible Applicants

Current through Register Vol. 51, No. 14, July 12, 2024
To qualify as an eligible recipient of financial assistance, an applicant shall:
A. If a nonprofit organization, corporation, or partnership, be in good standing and qualified to do business in Maryland;
B. Have the legal capacity and all necessary authorization to incur the obligations of the financial assistance;
C. Own the project or have a valid contract to purchase or lease the project;
D. Demonstrate credit worthiness and repayment ability acceptable to the Department; and
E. Demonstrate the ability to complete and operate the project.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.04 - Eligible Projects

Current through Register Vol. 51, No. 14, July 12, 2024
To be eligible for financial assistance, business projects shall be:
A. Properly zoned for the proposed use;
B. If involving construction or renovation, rehabilitated, constructed, and operated in accordance with the applicable federal, State, and local building, zoning, environmental, health, and safety standards; and
C. Licensed and registered as applicable.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.05 - General Requirements

Current through Register Vol. 51, No. 14, July 12, 2024
A. Financial assistance may be used for the development costs of a business project.
B. The Administration shall establish interest rates and fees for the financial assistance based on the underwriting of each project.
C. Terms for repayment of principal and interest shall be established based on the underwriting for each project.
D. A loan shall be evidenced by a promissory note and secured by deed of trust or other security agreement in the form acceptable to the Administration.
E. Financial assistance shall be disbursed in accordance with a draw schedule approved by the Administration, which may include releasing funds upon successful inspections.
F. Borrowers shall pay any servicing fees, loan insurance premiums, bond insurance premiums, late charges, or other fees that the Administration or the loan insurer may require and that are permitted by State law.
G. Escrow Accounts. The Administration may require the borrower to make monthly deposits with the Administration for real estate taxes, insurance, mortgage insurance premiums, a reserve for replacements, and other expenses of the project.
H. Appraisal. Borrowers may be required to provide or pay for an appraisal performed by an appraiser acceptable to the Administration which shows the current value of the property and the expected value of the property after completion of the improvements.
I. The Administration may require certified financial statements for all partners, corporate borrowers, or any other individuals or entities having an interest in the project, in a form acceptable to the Administration.
J. The recipient of financial assistance shall agree not to sell, cease to own, assign, transfer, or dispose of all or any part of the business project or their interest in it, without the prior written consent of the Administration.
K. Taxes and assessments against the property which are due and payable shall be paid at or before closing.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.06 - Liability and Other Insurance

Current through Register Vol. 51, No. 14, July 12, 2024
A. The borrower shall maintain property, fire, and extended coverage insurance on the real and personal property comprising a project both during and after construction.
B. If the project is located on real property in the 100-year flood plain, as designated by the United States Administration of Housing and Urban Development, the project shall be covered by a flood plain insurance policy.
C. For all secured loans, the borrower shall provide a standard American Land Title Association (ALTA) Loan policy or other form of title policy approved by the Administration.
D. The Administration may require the borrower to obtain any of the following types of insurance, depending on the size of the project and risks to the Administration:
(1) Owner's liability;
(2) Owner's property or hazard or contractor's builder's risk;
(3) Contractor's liability;
(4) Architect's errors and omissions; and
(5) Engineer's errors and omissions.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.07 - Additional Requirements

Current through Register Vol. 51, No. 14, July 12, 2024
A. In addition to a promissory note and security agreement, the Administration may require the borrower to execute or provide additional loan documents, which may include any of the following:
(1) A loan agreement;
(2) An agreement and declaration of covenants and restrictions;
(3) A disbursement agreement;
(4) A guaranty of completion or loan payments;
(5) A completion assurance agreement;
(6) An assignment of the construction contract;
(7) An opinion of borrower's counsel;
(8) An opinion of contractor's counsel;
(9) A contractor's letter and certification;
(10) An assurance of compliance with civil rights requirements;
(11) A fair practices certification; and
(12) Such other documents as the Administration may find it desirable or necessary to require.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.08 - Applications and Processing

Current through Register Vol. 51, No. 14, July 12, 2024
A. An application for financial assistance shall be submitted to the Department and shall be made upon standard forms prescribed by the Department.
B. Each application shall:
(1) Be submitted by an eligible applicant as described in Regulation .03 of this chapter;
(2) Contain the applicant's organizational documents, including, as applicable, its articles of incorporation, bylaws, articles of organization, operating agreement, certificate of partnership, partnership agreement, or joint venture agreement;
(3) Contain a description of the project;
(4) Contain a description of all sources of funding the applicant has obtained for the project;
(5) Contain sufficient information to determine that the:
(a) Project is located in a priority funding area;
(b) Project is eligible in accordance with Regulation .04 of this chapter; and
(c) Terms and requirements of financial assistance as set forth in Regulation .05 of this chapter can be met; and
(6) Contain the following additional information:
(a) The estimated number and types of jobs to be created or retained by the project;
(b) The amount, size, and types of space to be created or retained;
(c) The cost of the project;
(d) A project budget identifying all sources and uses of funds;
(e) A pro forma showing anticipated project revenue, expenses, and debt service and other indebtedness of the project;
(f) Identification of the revenues which can be used to repay the financial assistance provided by the Administration; and
(g) Other information as the Administration may request.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.09 - Books and Accounts

Current through Register Vol. 51, No. 14, July 12, 2024
A. Applicants, contractors, and subcontractors shall maintain such books, accounts, and records and shall file with the Department such financial and other reports as the Department may from time to time require.
B. All of the books, accounts, and records under §A of this regulation shall be open to the inspection of representatives of the Department or other agencies of the State during reasonable working hours.
C. Books, accounts, and records of contractors and subcontractors shall be maintained and made available for inspection for 3 years past the date of termination of the contractual relationship between the contractor and the applicant.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.10 - Program Administration

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Administration may establish from time to time detailed Program guidelines containing underwriting standards, processing requirements, and other requirements or matters relating to providing financial assistance.
B. The Department may charge and collect from an applicant or recipient of financial assistance under this title:
(1) Origination, application, and processing fees; and
(2) Any other charges, fees, or reimbursements incidental to a project application or providing financial assistance.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.11 - Nondiscrimination and Drug-Free and Alcohol-Free Workplace

Current through Register Vol. 51, No. 14, July 12, 2024
A. An applicant or contractor may not discriminate on the basis of race, color, religion, national origin, sex, marital status, physical or mental disability, sexual orientation, or age, except with regard to age as permitted under the federal Housing for Older Persons Act, as amended from time to time, or other similar federal laws, in leasing or otherwise providing dwelling accommodations or in any other aspect of the development, administration, or operation of any project or undertaking financed or assisted under the Program, or in any aspect of employment by any sponsor, developer, or contractor in the construction, repair, or maintenance of any property financed or assisted under the Program.
B. An applicant or contractor shall comply with all applicable federal, State, and local laws and Department policies and programs regarding discrimination, equal opportunity in employment, housing, and credit practices, and drug-free and alcohol-free workplaces, including:
(1) Title VI and VII of the Civil Rights Act of 1964, as amended;
(2) Title VIII of the Civil Rights Act of 1968, as amended;
(3) The Fair Housing Amendments Act of 1988, as amended;
(4) The Department's Minority Business Enterprise Program, as amended;
(5) Executive Order 01.01.1989.18, Drug and Alcohol Free Workplace, and any Department or State regulations adopted or to be adopted to carry out the requirements of that Order;
(6) State Government Article, Title 20, Annotated Code of Maryland, as amended; and
(7) The Americans with Disabilities Act of 1990, as amended.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.12 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary provisions of these regulations to the extent that the waiver or variance is consistent with the Act and if, in the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 13 - NEIGHBORHOOD BUSINESS DEVELOPMENT › Chapter 05.13.07 - Business Lending Program › Section 05.13.07.13 - False Statements

Current through Register Vol. 51, No. 14, July 12, 2024
An applicant or recipient of financial assistance who knowingly makes or causes to be made a false statement or report, whether in the nature of an understatement or overstatement of financial condition or any other fact material to the Department's action, shall be subject to immediate acceleration of the loan, in addition to the criminal penalties authorized by the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
This chapter prescribes the policies, procedures, and authorizations for allocating tax credits to business entities and individuals that contribute to approved projects of nonprofit organizations that provide services to priority funding areas.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.02 - Purpose and Objectives

Current through Register Vol. 51, No. 14, July 12, 2024
A. The purpose of the Program is to improve the well-being of people and the health of communities in priority funding areas by strengthening the ability of nonprofit organizations serving those areas to build partnerships with private sector businesses.
B. The objectives of the Program are to:
(1) Assist nonprofit organizations in carrying out approved projects to improve the welfare, health, and economic conditions in priority funding areas;
(2) Encourage businesses and individuals to invest in priority funding areas; and
(3) Strengthen public/private partnerships.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.03 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In General.
(1) In this chapter, the following terms have the meanings indicated and as defined in the Act.
(2) Any terms also appearing in the Internal Revenue Code have the meanings defined there as well.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.04 - Eligibility Standards for Approved Projects

Current through Register Vol. 51, No. 14, July 12, 2024
A. A project shall be submitted for approval by a nonprofit organization.
B. In order to be eligible for approval under the Program, the project shall satisfy the following requirements:
(1) The project shall provide services to a priority funding area;
(2) The project shall provide services including:
(a) Community services, such as child care, recreational services, and economic development services,
(b) Redevelopment assistance,
(c) Job training for individuals of limited income and related job placement services,
(d) Education,
(e) Crime prevention, or
(f) Other services approved by the Program; and
(3) The project shall have the written approval of the governing body of each:
(a) County in which the priority funding area benefited by the project is located, and
(b) Municipal corporation in which the priority funding area benefited by the project is located.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.05 - Project Proposals and Processing

Current through Register Vol. 51, No. 14, July 12, 2024
A. Number of Proposals. A nonprofit organization may submit only one project proposal in any State fiscal year.
B. Forms and Documentation. A project proposal shall be made on standard forms provided by the Program and shall include:
(1) The name and a description of the project to be conducted, and the amount of the tax credit allocation requested;
(2) A description of the problem to be addressed by the project and who will benefit from the project;
(3) A description of the project goals and the measurable objectives;
(4) The priority funding area benefited by the project, together with a statement whether the priority funding area includes, in whole or in part, a sustainable community or a designated neighborhood conservation area;
(5) A description of the experience and capabilities of the nonprofit organization and its key staff members:
(a) In carrying out similar projects, and
(b) In general;
(6) The proposed budget for the project;
(7) A description of the plans for implementing the project;
(8) A copy of the following organizational documentation for the nonprofit organization:
(a) The letter from the Internal Revenue Service granting tax-exempt status under §501(c)(3) of the Internal Revenue Code,
(b) Articles of incorporation,
(c) Bylaws, and
(d) A corporate resolution authorizing submission of the application and designating the person or persons authorized to sign documents in connection with the approval of the project, allocation of tax credits, and certification for contributions;
(9) As required by the Program, financial statements, annual operating budget, list of major contributors, and current and anticipated funding sources;
(10) Written approval for the project of the governing body of each:
(a) County in which the priority funding area benefited by the project is located; and
(b) Municipal corporation in which the priority funding area benefited by the project is located; and
(11) Any other information considered necessary by the Program.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.06 - Project Review and Selection Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. Threshold Requirements. Each project shall meet the following threshold requirements:
(1) The application shall be complete, providing all of the items and information required in Regulations .04 and .05 of this chapter;
(2) The service or services proposed shall be consistent with the Program purpose and eligible under this chapter and any guidelines issued by the Program;
(3) The application shall identify the priority funding area in which the project will operate; and
(4) If the applicant was awarded an allocation of tax credits for a project during a previous State fiscal year, the applicant shall, in the discretion of the Program, have made substantial progress toward utilizing its previous award of tax credits and satisfying all other Program requirements for the previous project.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.07 - Procedures for Claiming and Using Tax Credits

Current through Register Vol. 51, No. 14, July 12, 2024
A. Certification of Contribution.
(1) In order to claim a tax credit for a contribution under the Act, the business entity or individual shall submit a request for certification through the nonprofit organization on forms provided by the Program, together with any documentation of the contribution as required by the Program.
(2) Each request for certification of a contribution shall contain:
(a) The name of the approved project for which the contribution was made, the project identification number, and the name of the nonprofit organization to which the contribution was made;
(b) A receipt from the nonprofit organization for the contribution; and
(c) In the case of a:
(i) Cash contribution, proof of the amount of the contribution;
(ii) Contribution of new goods, an invoice or receipt provided by the business entity or individual as certification of the contribution's net cost, consistent with Internal Revenue Service Publication 561;
(iii) Nonmonetary contribution not described in §A(2)(c)(ii) of this regulation, a certification by an independent and unrelated third party as to the value of the contribution consistent with Internal Revenue Service Publication 561; or
(iv) Contribution of real property, a properly executed and recorded deed, evidence that the property was conveyed free and clear of all liens and encumbrances, a recent property appraisal, and evidence that the contributed property will be used for the approved use described in the application; and
(d) Any other information considered necessary by the Program.
(3) Notice of certification may be made by the Assistant Secretary for Neighborhood Revitalization.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.08 - Taxes Against Which Tax Credits May Be Applied

Current through Register Vol. 51, No. 14, July 12, 2024
A. General Description. The Program tax credits described in the Act authorizing the Program are credits against taxes:
(1) For certain insurance companies, under Article 48A, § 634, Annotated Code of Maryland, or Insurance Article, §
										6-105, (effective October 1, 1997) Annotated Code of Maryland;
(2) For certain financial institutions against the financial institution franchise tax, under Tax-General Article, §8-214, Annotated Code of Maryland;
(3) For certain public service companies against the public service franchise tax, under Tax-General Article, §8-411, Annotated Code of Maryland;
(4) For certain corporations against income tax under Tax-General Article, §10-704.4, Annotated Code of Maryland; and
(5) For individuals against income tax under Tax-General Article, §10-704.6, Annotated Code of Maryland.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.09 - Program Administration

Current through Register Vol. 51, No. 14, July 12, 2024
A. Handbooks and Manuals. The Program may adopt a handbook containing internal guidelines related to the administration of the Program or establishing other requirements relating to the Program. The handbook shall be available for public examination at the Department's principal office. The Department, upon request, shall make copies available to the public.
B. Delegation of Authority. An action or decision required to be taken or permitted to be made by the Department under the Act, or by the Secretary or the Department under these regulations, may be delegated by the Secretary.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.10 - Record Keeping and Record Retention; Semiannual Reports

Current through Register Vol. 51, No. 14, July 12, 2024
A. Record Keeping. Nonprofit organizations receiving an allocation of tax credits for an approved project shall keep the following records:
(1) Financial records in connection with the approved project;
(2) Records in connection with contributions from business entities or individuals that claim or expect to claim tax credits; and
(3) Semiannual reports described in §C of this regulation.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.11 - Nondiscrimination; Drug and Alcohol Free Workplace

Current through Register Vol. 51, No. 14, July 12, 2024
In order to participate in the Program, the nonprofit organization shall comply with the following requirements:
A. A nonprofit organization may not discriminate on the basis of race, color, religion, national origin, sex, marital status, physical or mental disability, sexual orientation, or age, except with regard to age as permitted under the federal Housing for Older Persons Act, as amended from time to time, or other similar federal laws, in any aspect of the Program, or in any aspect of employment by any nonprofit organization in connection with any project financed or assisted under the Program;
B. A nonprofit organization shall comply with all applicable federal, State, and local laws, and Department policies and programs regarding discrimination and equal opportunity in employment, housing, credit practices, and drug and alcohol free workplaces, including:
(1) Titles VI and VII of the Civil Rights Act of 1968, as amended;
(2) Title VIII of the Civil Rights Act of 1968, as amended;
(3) State Government Article, Title 20, Annotated Code of Maryland, as amended;
(4) The Department's Minority Business Enterprise Program, as amended;
(5) The Governor's Executive Order 01.01.1989.18, Drug and Alcohol Free Workplace, and any Department or State regulations adopted or to be adopted to carry out the requirements of that Order;
(6) The Fair Housing Amendments Act of 1988, as amended; and
(7) The Americans with Disabilities Act of 1990, as amended.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.12 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary provisions of this chapter to the extent that the waiver or variance is consistent with the Act and if, in the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.01 - Community Investment Tax Credit Program › Section 05.14.01.13 - False Statements

Current through Register Vol. 51, No. 14, July 12, 2024
A. A person may not knowingly make or cause to be made a false statement or report in any document required to be furnished to the Department or in any agreement relating to the Program.
B. A nonprofit organization, a business entity, or an individual that knowingly makes or causes to be made a false statement or report is subject to cancellation and withdrawal of an allocation of credits, or cancellation and withdrawal of a certification of a contribution, in addition to any other penalties authorized by law.
Code of Maryland Regulations › Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT › Subtitle 14 - NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM › Chapter 05.14.02 - Endow Maryland › Section 05.14.02.01 - General

Current through Register Vol. 51, No. 14, July 12, 2024
This chapter prescribes the policies, procedures, and authorizations for allocating tax credits to taxpayers that donate to qualified permanent endowment funds of eligible community foundations for the benefit of charitable causes in the State of Maryland.