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Ch. 115 1995 LAWS OF MARYLAND
(F) "NONPROFIT ORGANIZATION" MEANS A CORPORATION, FOUNDATION,
OR OTHER LEGAL ENTITY, THAT SPECIFIES IN ITS CHARTER OR BYLAWS THAT NO
PART OF THE NET EARNINGS OF WHICH INURES MAY INURE TO THE BENEFIT OF
ANY PRIVATE SHAREHOLDER OR INDIVIDUAL HOLDING ANY INTEREST IN SUCH
ENTITY.
(G) "PROGRAM" MEANS THE NEIGHBORHOOD BUSINESS DEVELOPMENT
PROGRAM.
(H) "PROJECT" MEANS A NEIGHBORHOOD BUSINESS DEVELOPMENT PROJECT
WHICH RECEIVES FINANCIAL ASSISTANCE FROM THE NEIGHBORHOOD, BUSINESS
DEVELOPMENT FUND.
(I) "SMALL BUSINESS" MEANS A BUSINESS THAT EMPLOYS A NUMBER OF
EMPLOYEES NO GREATER THAN A LIMIT SET FORTH IN REGULATIONS BY THE.
DEPARTMENT WHICH SHALL NOT EXCEED THE STANDARDS SET BY THE FEDERAL
SMALL BUSINESS ADMINISTRATION.
(J) "SPONSOR" MEANS A SMALL BUSINESS ELIGIBLE TO RECEIVE FINANCIAL
ASSISTANCE UNDER THE PROGRAM, INCLUDING ANY PERSON, PARTNERSHIP, JOINT
VENTURE, CORPORATION, COOPERATIVE, LIMITED LIABILITY COMPANY,
NONPROFIT ORGANIZATION, SERVICE ORGANIZATION, OR OTHER LEGAL ENTITY.
2-1303.
(A) TO QUALIFY FOR FINANCIAL ASSISTANCE UNDER THE PROGRAM, A
NEIGHBORHOOD BUSINESS DEVELOPMENT PROJECT MUST BE LOCATED IN A
DESIGNATED NEIGHBORHOOD.
(B) LOCAL JURISDICTIONS MAY DESIGNATE ONE OR MORE ELIGIBLE
NEIGHBORHOODS SHALL BE DESIGNATED BY THE LOCAL JURISDICTION, WITH THE
CONCURRENCE OF THE SECRETARY OF THE DEPARTMENT, TAKING INTO
CONSIDERATION THE FOLLOWING FACTORS:
(1) THE AVAILABILITY, COST, AND CONDITION OF BUSINESS FACILITIES;
(2) THE AGE AND NUMBER OF ABANDONED AND SUBSTANDARD
STRUCTURES;
(3) THE AGE AND NUMBER OF SUBSTANDARD STRUCTURES;
(3) (4) THE INCOME OF RESIDENTS RELATIVE TO STATE OR
REGIONAL MEDIAN INCOMES, INCLUDING THE NUMBER OF PERSONS WHO ARE
WELFARE RECIPIENTS OR UNEMPLOYED;
(4) (5) THE EXTENT OF UNEMPLOYMENT AND THE AVAILABILITY IN
THE AREA OF JOBS FOR RESIDENTS OF THE DESIGNATED NEIGHBORHOOD;
(5) (6) THE NEED FOR FINANCING FOR SMALL BUSINESSES IN ORDER
TO UPGRADE THE SOCIAL AND ECONOMIC CONDITIONS OF THE DESIGNATED
NEIGHBORHOOD;
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