1116                               Laws of Maryland                         Ch. 502

266-O

As used in this subtitle the following words and terms have the
following meanings and unless the context indicates another or dif-
ferent meaning or intent:

(1)    "Cost of project" means the aggregate costs incurred after
the approval of a loan determined by the Authority to be reasonably
necessary to the construction, acquisition, rehabilitation, or im-
provement of a project, including, without intending thereby to
limit the generality of such costs: the cost of acquiring real property
therefor; the cost of constructing or reconstructing buildings and
improvements thereon, including, to the extent such costs are not
borne by the municipality, county, or other taxing district within
which the project is located, the cost of constructing means of ac-
cess to and from such project; the cost of constructing extensions to
the project site of existing utility systems if such costs are cus-
tomarily borne by the consumer; insurance premiums, financing
charges, interest costs, commitment fees, and other similar charges
and fees incurred prior to or during the period of construction, re-
habilitation, or improvement; any fees or charges imposed by the
Authority in respect to an application for a mortgage loan; the cost
of preparing project specifications, surveys, estimates, applica-
tions, and other documents; and all such other costs, charges, fees,
and expenses, including labor costs, overhead costs, the costs of
materials and supplies, and engineering and legal expenses, as may
be reasonably incident to the construction, acquisition, rehabilita-
tion, or improvement of the project; furthermore, the term "cost
of project" includes the cost of any machinery or equipment to be
used by the project occupant in its industrial or manufacturing
operations or any expenses related to the installations, replace-
ment, or rehabilitation thereof.

(2)    "Federal agency" means the United States of America, the
President of the United States of America, and any department of,
or corporation, agency or instrumentality heretofore or hereafter
created, designated or established by, the United States of America.

(3)    "Industrial project" means (i) a new industrial or manu-
facturing plant for the construction of which a mortgage loan
guarantee is sought from the Authority; or (ii) a former indus-
trial or manufacturing plant for the acquisition, rehabilitation, or
improvement of which a mortgage loan is sought from the Au-
thority; or (iii) buildings used primarily for storage or transship-
ment of manufactured goods; or (iv) buildings to be used for re-
search and development for the discovery, perfection, and/or
evaluation of new processes and/or products; or (v) the construc-
tion, acquisition, rehabilitation, or improvement of tourist industry
facilities including hotels, inns, lodges, resort complexes, restau-
rants, marinas, campgrounds, travel-trailer parks, and other facili-
ties used by tourists which such facilities fill an established need in
the overall development or expansion of a municipality's, county's,
or region's tourist industry and/or convention business. However,
"industrial project" shall not be deemed to include a mercantile or
nontourist industry service establishment. The financing, construc-
tion, operation, and administration of an industrial project under
this subtitle shall be subject to the provisions concerning discrimi-
nation and unlawful practices in Article 49B of this Code, title
"Human Relations Commission."