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3179
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MARVIN MANDEL, Governor
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construction of jetties and breakwaters in cooperation
with and as an extension of operations of the United
States Army Corps of Engineers; and
(4) Constructing marine facilities
beneficial to the boating public; and
(5) Improvement, reconstruction, or removal
of bridges, drawbridges, or similar structures over or
across waters, if those structures delay, impede, or
obstruct the boating public. With the approval of the
board of public works, funds from another public or any
private source may be received and used to supplement and
increase the funds in the waterways improvement fund for
the purpose of this subsection. Also, the board of
public works may enter into an agreement with a private
company or person which owns such a structure, for the
improvement, reconstruction, or removal of the structure,
in order to provide a sharing of the cost of the
improvement, reconstruction, or removal.
(6) Evaluation of water—oriented recreation
needs and recreational capacities of Maryland waterways,
and development of comprehensive plans for waterways
improvements.
8-1005.
(a) [The] THERE IS A "Shore Erosion Control
Construction Loan Fund" [is created and continued]. The
Department shall administer the Fund solely to provide
interest—free loans to persons, municipalities, or
counties for construction of shore erosion structures.
The Fund shall be maintained by:
(1) Repayments of principal on loans made
from the Fund, with the repayments made through a special
real estate tax the State levies on privately owned
property benefited by shore erosion control projects.
The tax shall compensate the State for net project
construction cost. The tax may be levied at a uniform
rate over a period not exceeding 25 years, as the State
and the property owner agree; and
(2) Annual appropriation of general funds to
restore the Fund to a level sufficient to carry out an
effective shore erosion control construction loan program
during the succeeding year.
A property owner whose project is approved is
eligible to receive an interest-free loan covering 100
percent of the first $40,000 of project construction
cost, 50 percent of the next $20,000 of project
construction cost, 25 percent of the next $20,000 of
project construction cost, and 10 percent of the part of
construction cost exceeding $80,000. However, where two
or more property owners are included within a shore
erosion control project, and project construction costs
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