PARRIS N. GLENDENING, Governor                             Ch. 654

[4-303.] 2-1303.

(a)     (1) The Department shall make grants to eligible neighborhood housing
services corporations pursuant to the terms of subsections (b) and (c) of this section.

(2) An umbrella corporation shall also be eligible for a grant for each
neighborhood housing services program under its supervision.

(b)     (1) Each eligible neighborhood housing services corporation may apply for a
grant in an amount not to exceed one-third of its annual operating budget or $50,000,
whichever is less.

(2) Each umbrella corporation may apply for a grant for each of its
neighborhood housing services programs in an amount not to exceed one-third of the
neighborhood housing services program's annual operating budget or $50,000, whichever
is less.

(c)     If in any fiscal year the total amount of grant applications received by the
Department exceeds the total amount of the Fund, the Secretary shall reduce each
eligible applicant's grant on a pro rata basis in order not to exceed the total dollar amount
of the Fund appropriated for that fiscal year.

[4-304.] 2-1304.

A neighborhood housing services corporation or umbrella corporation shall be
eligible for a grant upon meeting all of the following requirements:

(1)     Timely submission of an application in the form prescribed by the
Secretary, which application shall include:

(i) A description of the geographic boundaries served by the
Neighborhood Housing Services Corporation or Neighborhood Housing Services
Program;

(ii) Certification that the applicant is currently registered with the
Neighborhood Reinvestment Corporation;

(iii) Certification of incorporation under the laws of the State;

(iv) Certification of receipt of a current ruling from the Internal
Revenue Service of the United States Department of the Treasury that the applicant is an
organization which is exempt from federal income taxation;

(v) Certification that the remaining two-thirds portion of the
applicant's annual operating budget has been provided exclusively from political
subdivisions or private sources; and

(vi) Other requirements as may be required by the Secretary;

(2)     Creation of a Board of Directors composed of a member of the General
Assembly, neighborhood residents, representatives of local financial institutions and
where not inconsistent with local law, representatives of local political subdivisions;

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