Ch. 417                                          LAWS OF MARYLAND

(B) AN APPLICATION MUST BE SIGNED BY THE CHIEF ELECTED
OFFICER, OR IF NONE BY THE GOVERNING BODY OF THE COUNTY OR
MUNICIPALITY.

(C)  THE APPLICATION SHALL BE IN A FORM ACCEPTABLE TO THE
DEPARTMENT AND CONTAIN THE SUCH INFORMATION THAT AS THE
DEPARTMENT DETERMINES IS NECESSARY BY REGULATION, INCLUDING:

(1)  SUFFICIENT INFORMATION TO DETERMINE IF THE
PROJECT QUALIFIES UNDER SECTION 4-506 OF THIS SUBTITLE;

(2)  THE NUMBER AND TYPE OF RESIDENTIAL UNITS TO BE
CREATED OR RETAINED BY THE PROJECT;

(3)  THE PERCENTAGE OF RESIDENTIAL UNITS CREATED OR
RETAINED THAT WILL BE AVAILABLE TO FOR LOW AND MODERATE INCOME
PERSONS;

(4)  THE NUMBER AND TYPES OF JOBS TO BE CREATED OR
RETAINED BY THE PROJECT; AND

(5)  THE PERCENTAGE OF JOBS TO BE CREATED OR RETAINED
THAT WILL BE AVAILABLE TO FOR LOW AND MODERATE INCOME PERSONS;
AND.

(6) IN THE EVENT OF CATASTROPHIC LOSS, THE NATURE OF
THE CATASTROPHIC LOSS, THE PRECATASTROPHIC NUMBER OF RESIDENTIAL
UNITS AND JOBS, AND THE NUMBER AND TYPES OF RESIDENCES AND
BUSINESSES AFFECTED.

(D)  IN CONSULTATION WITH THE DEPARTMENT OF ECONOMIC AND
EMPLOYMENT DEVELOPMENT, THE DEPARTMENT SHALL REVIEW AND APPROVE
APPLICATIONS.

(E)  NO MORE THAN 40 PERCENT OF THE ANNUAL AMOUNT OF FUNDS
AVAILABLE FOR FINANCIAL ASSISTANCE UNDER THE PROGRAM SHALL BE
PROVIDED TO ANY 1 COUNTY OR MUNICIPALITY.

(F)  AS DETERMINED BY THE MOST RECENT CENSUS, NOT LESS THAN
20 PERCENT OF THE ANNUAL AMOUNT OF FUNDS AVAILABLE FOR FINANCIAL
ASSISTANCE UNDER THE PROGRAM SHALL BE MADE AVAILABLE IN
MUNICIPALITIES WITH POPULATIONS OF LESS THAN 10,000 PERSONS.

4-506.

(A) TO QUALIFY FOR FINANCIAL ASSISTANCE UNDER THE PROGRAM,
A PROJECT MUST BE LOCATED IN, OR BE IN REASONABLE PROXIMITY TO, A
TARGETED AREA. A TARGETED AREA MUST SATISFY AT LEAST 1 OF THE
FOLLOWING REQUIREMENTS:

(1) THE AVERAGE RATE OF UNEMPLOYMENT IN THE AREA IS
ABOVE THE AVERAGE RATE OF UNEMPLOYMENT IN EITHER THE STATE OR THE
UNITED STATES;

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