PARRIS N. GLENDENING, Governor                                S.B. 338

(1) A VIBRANT BUSINESS SECTOR IN A NEIGHBORHOOD CAN BE A
STIMULUS TO NEIGHBORHOOD REVITALIZATION;

(2) THE EXISTENCE OF NEIGHBORHOODS WHICH SUFFER FROM SOCIAL
DISTRESS AND LACK OF BUSINESS INVESTMENT IN THE STATE IS A DETRIMENT TO
THE WELL BEING, HEALTH, AND SAFETY OF THE CITIZENS OF MARYLAND;

(3) THE SOCIAL AND ECONOMIC PROBLEMS IN THESE DISTRESSED
NEIGHBORHOODS CAN BE ALLEVIATED THROUGH FINANCIAL ASSISTANCE TO
SMALL BUSINESS DEVELOPMENT IN SUCH NEIGHBORHOODS;

(4) COOPERATION BETWEEN THE STATE, THE LOCAL GOVERNMENT,
AND PRIVATE ENTERPRISES CAN ENCOURAGE SMALL BUSINESS ESTABLISHMENT
AND EXPANSION IN DISTRESSED NEIGHBORHOODS; AND

(5) THERE IS A NEED FOR INCREASED JOB OPPORTUNITIES IN
DISTRESSED NEIGHBORHOODS.

(B) THE NEIGHBORHOOD BUSINESS DEVELOPMENT PROGRAM IS HEREBY
CREATED WITHIN THE DEPARTMENT, FOR THE FOLLOWING PURPOSES:

(1)      TO ASSIST IN THE DEVELOPMENT, REDEVELOPMENT, OR
EXPANSION OF SMALL BUSINESS ENTERPRISES IN DESIGNATED NEIGHBORHOODS;

(2)      TO STIMULATE INVESTMENT BY THE PRIVATE SECTOR IN
DESIGNATED NEIGHBORHOODS;

(3)      TO INVEST IN SMALL BUSINESS REVITALIZATION PROJECTS IN
DESIGNATED NEIGHBORHOODS; AND

(4)      TO STIMULATE THE PARTICIPATION OF LOCAL JURISDICTIONS IN
DEVELOPING AND EXPANDING SMALL BUSINESS ENTERPRISES IN DESIGNATED
NEIGHBORHOODS.

2-1302.

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

(B)     "DESIGNATED NEIGHBORHOOD" MEANS A GEOGRAPHICALLY DEFINED
AREA OF A LOCAL JURISDICTION WHICH IS DESIGNATED AS AN ELIGIBLE
NEIGHBORHOOD IN ACCORDANCE WITH § 2-1303(B) OF THIS SUBTITLE.

(C)     "DEVELOPMENT COSTS" MEANS THE COSTS INCURRED FOR THE
CONSTRUCTION OR REHABILITATION OF A NEIGHBORHOOD BUSINESS
DEVELOPMENT PROJECT, INCLUDING THE COSTS OF:

(1)      NECESSARY STUDIES, SURVEYS, PLANS, AND SPECIFICATIONS;

(2)      ARCHITECTURAL, ENGINEERING, OR OTHER SPECIAL SERVICES
RELATED TO CONSTRUCTION OR REHABILITATION, INCLUDING FLOOD PLAIN
STUDIES, ENVIRONMENTAL AUDITS, AND CRITICAL AREA OR WETLAND
ASSESSMENTS;

- 3731 -