1376

LAWS OF MARYLAND

Ch. 494

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 41 — Governor — Executive and Administrative

Departments

46
INDUSTRIAL AND COMMERCIAL REDEVELOPMENT

460.

(A)   IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(B)   "DEPARTMENT" MEANS THE DEPARTMENT OF ECONOMIC AND
COMMUNITY DEVELOPMENT.

(C)  (1) "ELIGIBLE PROJECT COST" MEANS THE COST OF
PLANNING, DEVELOPING, EXECUTING, AND MAKING OPERATIVE AN
INDUSTRIAL OR COMMERCIAL REDEVELOPMENT PROJECT.

(2)"ELIGIBLE PROJECT COST" INCLUDES:

(I)   THE COST OF PURCHASING, LEASING,
CONDEMNING, OR OTHERWISE ACQUIRING LAND OR OTHER PROPERTY,
OR AN INTEREST IN THEM, IN THE DESIGNATED PROJECT AREA OR AS
NECESSARY FOR A RIGHT-OF-WAY OR OTHER EASEMENT TO OR FROM
THE PROJECT AREA;

(II)   THE COST INCURRED IN CONNECTION WITH
OR INCIDENTAL TO ACQUISITION AND MANAGEMENT OF THE LAND,
PROPERTY, OR INTEREST;

(III)   THE COST INCURRED FOR OR IN
CONNECTION WITH THE RELOCATION AND MOVING OF PERSONS OR
OTHER LEGAL ENTITIES DISPLACED BY THE ACQUISITION;

(IV)   THE COST OF DEVELOPMENT OR
REDEVELOPMENT, INCLUDING:

1.   THE COMPREHENSIVE RENOVATION OR
REHABILITATION OF THE LAND, PROPERTY, OR INTEREST IN THEM;
AND

2.   THE DISPOSITION OF LAND OR OTHER
PROPERTY FOR THESE PURPOSES;

(V)   THE COST OF DEMOLISHING, REMOVING,
RELOCATING, RENOVATING, ALTERING, CONSTRUCTING,
RECONSTRUCTING, INSTALLING, OR REPAIRING ANY LAND OR ANY
BUILDING, STREET, HIGHWAY, ALLEY, UTILITY, SERVICE, OR OTHER
STRUCTURE OR IMPROVEMENT;