HARRY HUGHES, Governor                               2629

(1)  WHETHER THE PROJECT MAY REASONABLY BE
EXPECTED TO ATTRACT COMMERCIAL INDUSTRIAL BUSINESSES AND
CREATE NEW EMPLOYMENT OPPORTUNITIES IN THE ENTERPRISE ZONE;

(2)  THE AMOUNT OF BENEFIT, IN TERMS OF ECONOMIC
DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES WHICH THE PROJECT
MAY REASONABLY BE EXPECTED TO GENERATE IN THE ENTERPRISE
ZONE IN RELATION TO SUCH BENEFITS WHICH OTHER PROJECTS
SEEKING SUCH INSURANCE MAY REASONABLY BE EXPECTED TO
GENERATE, AND IN RELATION TO THE TOTAL FUNDS AVAILABLE FOR
INSURING;

(3)  WHETHER THE PROJECT, AS PROPOSED, WILL
COMPLY WITH APPLICABLE ZONING, HEALTH, AND OTHER LAWS OR
REGULATIONS APPLICABLE TO THE PROJECT; AND

(4)  SUCH OTHER FACTORS AS THE SECRETARY DEEMS
RELEVANT.

441D. LOANS TO PROJECTS IN ENTERPRISE ZONES.

NOTWITHSTANDING ANY OTHER PROVISION OF THIS SUBTITLE,
THE SECRETARY MAY APPROVE LOANS IN THE FOLLOWING AMOUNTS FOR
PROJECTS WITHIN AN ENTERPRISE ZONE DESIGNATED UNDER §
266KK-2 OF THIS ARTICLE:

(1)  FOR ANY LOAN TO ACQUIRE LAND UNDER § 440, UP
TO 100 PERCENT OF THE CURRENT MARKET VALUE OF THE LAND, AS
DETERMINED BY HIM, BUT NOT EXCEEDING $1,000,000 FOR ANY ONE
PROJECT;

(2)  FOR ANY LOAN TO FINANCE INDUSTRIAL PARK
PROJECT COSTS UNDER § 441, UP TO 50 PERCENT OF THE
ANTICIPATED PROJECT COST, AS DETERMINED BY THE SECRETARY,
BUT NOT EXCEEDING $2,000,000 FOR ANY ONE PROJECT;

(3)  FOR ANY LOAN TO FINANCE PROJECT COSTS OF A
SHELL BUILDING PROJECT UNDER § 441A, ALL OR ANY PART OF THE
PROJECT COSTS, NOT TO EXCEED $2,000,000;

(4)  FOR ANY LOAN FOR THE PURPOSE OF ACQUIRING
OPTIONS TO PURCHASE PROSPECTIVE INDUSTRIAL LAND SITES OR
INDUSTRIAL PARK SITES UNDER § 441B, A LOAN NOT EXCEEDING
$100,000 AND ON AN EQUAL MATCHING BASIS WITH FUNDS OF THE
BORROWING SUBDIVISION.

462.

(D) THE 40% LIMITATION CONTAINED IN § 462(C)(1) HEREOF
SHALL NOT APPLY TO ANY GRANT OR LOAN MADE TO ANY

(c) (1) A loan or grant may be for up to 90 percent of
the nonfederal and nonprivate portion of the eligible
project cost. However, a loan that, as to principal, is to
be repaid in full may not exceed $3,000,000. Any other loan