Ch. 10                                      1996 LAWS OF MARYLAND

DRAFTER'S NOTE:

Error: Omitted word in Article 83A, § 5-202(c).

Occurred: Ch. 498, Acts of 1984.
5-704.

(a)     Any political subdivision of the State desiring to acquire land under this
section shall make application for each project to the Secretary. The application shall
describe the project in such manner and detail as the Secretary may, by regulation,
determine, and shall include, without limitation:

[(i)] (1) A full description of the land and its characteristics;

[(ii)] (2) A complete statement as to why the land is particularly suited to
industry, and what particular industry or industries it is best suited to;

[(iii)] (3) A statement of the likelihood of any particular industry or
industrial concern being interested in the land in the near future;

[(iv)] (4) A description of the zoning, sanitary and other appropriate laws
and regulations applicable to the land, and whether any changes therein are
contemplated by the applicant;

[(v)] (5) Whether the applicant has adopted or developed a general
industrial land acquisition plan, and, if so, a complete description of the plan and how the
project applied for relates to the plan;

[(vi)] (6) Appraisals by two qualified appraisers approved by the Secretary
of the current market value of the land;

[(vii)] (7) A description of employment and unemployment conditions in the
subdivision and in the particular area in which the land is located, including the rate of
unemployment, if available, and any anticipated developments which may affect the rate
of unemployment in the near future; and

[(viii)] (8) Whether there is a shortage of industrial land in the subdivision
and in the particular area in which the land is located.

(b)     The Secretary, upon receipt of an application and after such investigation as
he deems advisable, may approve a loan of up to 100% of the current market value of the
land as determined by him but not exceeding $1,250,000 for any one project. In judging
whether or not to approve a loan and the amount of a loan, the Secretary shall consider
and determine:

[(i)] (1) Whether the project may reasonably be expected to attract
industry and create new employment opportunities;

[(ii)] (2) The amount of benefit, in terms of economic development and
employment opportunities which the project may reasonably be expected to generate in
relation to such benefits which other projects applied for may reasonably be expected to
generate, and in relation to the total funds available for lending;

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