Code of Maryland Regulations › Title 14 - INDEPENDENT AGENCIES › Subtitle 29 - MARYLAND HERITAGE AREAS AUTHORITY › Chapter 14.29.04 - Maryland Heritage Areas Loan Program › Section 14.29.04.02 - 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 Financial Institutions
				Article, §§13-1101-13 -1124, Annotated Code of Maryland.
(2) "Authority" means the Maryland Heritage
				Areas Authority established by the Act.
(3) "Borrower" means the recipient of a
				loan.
(4) "Business entity" means a
				corporation, limited liability company, association, partnership, joint
				venture, or other legally organized entity.
(5) "Capital project" means a project to
				acquire, develop, preserve, rehabilitate, or restore either real property or
				tangible personal property that has a useful life of at least 15
				years.
(6) "Certified heritage
				area" means a recognized heritage area that has been designated a certified
				heritage area in accordance with the Act and COMAR 14.29.02.
(7) "Fund" means the Maryland Heritage Areas
				Authority Financing Fund established by the Act.
(8) "Heritage area" means a contiguous or
				noncontiguous developed geographic area of public and private uses that:
(a) Can range in size from as small as a
				portion of a county or municipal corporation to as large as a regional
				area;
(b) Has a coherent and
				cohesive special character;
(c) Is
				distinguished by a concentration of natural, recreational, cultural, and
				historic resources of Statewide significance that have played a vital role in
				the historic life and development of the area and contribute to the public
				through interpretive, educational, and recreational uses; and
(d) May include traditional parks and
				historic places or property.
(9) "Heritage area management entity" means a
				nonprofit organization or agency of either State or local government that is or
				will be responsible for coordinating development of a management plan for a
				recognized heritage area or is responsible for implementing the management plan
				for a certified heritage area.
(10)
				"Local jurisdiction" means any of the 23 counties of the State, the City of
				Baltimore, any municipal corporation in the State that is subject to the
				provisions of Article XI-E of the Maryland Constitution, or any of their duly
				authorized agencies or instrumentalities.
(11) "Loan " means a loan made from the
				Fund.
(12) "Loan documents" means
				the promissory note, loan agreement, security instruments and other documents
				between a borrower and the Authority which evidence the terms and conditions of
				a loan.
(13) "Loan Program" means
				the Maryland Heritage Areas Loan Program of the Authority established by this
				chapter as authorized under the Act.
(14) "Management plan" means a document
				prepared and approved in accordance with the Act and COMAR 14.29.02, that
				includes a comprehensive strategy expressed in words, maps, illustrations, or
				other media for planning, implementing, and achieving the goals and objectives
				for the heritage area.
(15)
				"Nonprofit organization" means a corporation, foundation, governmental entity,
				or other legal entity, no part of the net earnings of which inure to the
				benefit of a private shareholder or individual holding an interest in the
				entity.
(16) "Trust" means the
				Maryland Historical Trust established under State Finance and Procurement
				Article, §
										5A-310,
				Annotated Code of Maryland.