WILLIAM DONALD SCHAEFER, Governor                   Ch. 390

(a)  Any political subdivision of the State may apply to the
Secretary for a loan to finance, with respect to an industrial
park project described in the application, any one or more of the
following industrial park project costs:

(1)  Planning and/or engineering study costs;

(2)  Land acquisition;

(3)  Water distribution, sewer collection and other
utility lines, unless and except to the extent that any such
costs are or will be borne by a public utility;

(4)  Access and internal roads;

(5)  Street lighting;

(6)  Installation of rail spurs, unless and except to
the extent that any such costs are or will be borne by a
railroad;

(7)  Costs unique to a specialized industrial park,
including, without limitation, items such as bulkheading, docks
and aircraft runways or aprons;

(8)  Site preparation, such as clearing and grading;

(9)  Rehabilitation of existing buildings to make them
suitable for manufacturing, assembly, fabricating, processing,
warehousing, research and development, or office use. Such
buildings may be intended for multitenant or single tenant
occupancy;

(10)  Demolition, provided that it is done in
conjunction with new construction financed under this [Act]
SUBTITLE; and

(11)  For a vertical industrial park, which is a
structure suited for multitenant, primarily industrial use, new
construction.

(b)  The application shall describe the project in such
manner and detail as the Secretary may, by regulation, determine
and shall include, without limitation, the data set forth in §
5-404(a) of this subtitle as the same related to the project as
well as a complete breakdown of the anticipated cost of the
project.

(c)  The Secretary, upon receipt of an application and after
such investigation as he deems advisable, may approve a loan of
up to fifty percent of the anticipated project cost, as
determined by the Secretary, but not exceeding $1,500,000 for any
one project. In judging whether or not to approve a loan and the

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