(5) THE FUND IS A CONTINUING, NONLAPSING FUND WHICH IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(C) (1) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, THE
SECRETARY MAY APPROVE LOANS FINANCIAL ASSISTANCE FROM THE FUND TO
QUALIFYING A QUALIFIED DISTRESSED COUNTIES COUNTY FOR THE PURPOSES OF
FINANCING THE COSTS OF ACQUISITION, IMPROVEMENTS, AND REHABILITATION OF
LAND FOR INDUSTRIAL SITES AND PARKS, DEVELOPMENT OF WATER AND SEWER
LINES, SHELL BUILDINGS, INFRASTRUCTURE SERVING EXISTING RETAIL AND
OFFICE ORIENTED CENTERS OCCUPYING AT LEAST 400,000 SQUARE FEET ON A
LIMITED BASIS OF NO MORE THAN ONE PER JURISDICTION, AND OTHER NEEDED
INFRASTRUCTURE PROJECTS, AS SET FORTH IN §§ 5-704 THROUGH 5-709 OF THIS
SUBTITLE.

(2) (1) A LOAN FINANCIAL ASSISTANCE UNDER THIS SECTION MAY BE
MADE ONLY FOR A PROJECT THAT IS LOCATED WITHIN A PRIORITY FUNDING AREA
UNDER TITLE 5, SUBTITLE 7B OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(II) THE EXCEPTIONS UNDER §§ 5-7B-05 AND 5-7B-06 OF THE STATE
FINANCE AND PROCUREMENT ARTICLE ALLOWING FUNDING OUTSIDE OF PRIORITY
FUNDING AREAS UNDER CERTAIN' CIRCUMSTANCES DO NOT APPLY TO LOANS
FINANCIAL ASSISTANCE UNDER THIS SECTION.

(3) (2) EXCEPT AS OTHERWISE PROVIDED IN THIS SUBSECTION, A
LOAN FINANCIAL ASSISTANCE UNDER THIS SECTION:

(I) IS SUBJECT TO THE APPLICABLE REQUIREMENTS, TERMS, AND
CONDITIONS OF LOANS FINANCIAL ASSISTANCE LOANS UNDER §§ 5-704 THROUGH
5-709 OF THIS SUBTITLE; AND

(II) MAY BE IN THE FORM OF A LOAN, AN INVESTMENT, OR A LOAN
CONVERTIBLE IN WHOLE OR IN PART TO A GRANT UPON THE SATISFACTION OF
SPECIFIED CONDITIONS. ALL UPON TERMS SPECIFIED BY THE DEPARTMENT.

(4) (3) (I) IN ADDITION TO ANY OTHER REQUIREMENTS FOR AN
APPLICATION FOR A LOAN FINANCIAL ASSISTANCE UNDER THIS SUBTITLE, AN
APPLICATION FOR A LOAN FINANCIAL ASSISTANCE UNDER THIS SECTION SHALL
INCLUDE, FOR EACH PROJECT:

1. A MARKETING PLAN DESIGNED TO MARKET THE PROJECT
TO PROSPECTIVE BUSINESSES AND A STATEMENT OF PLANNED MARKETING
EXPENDITURES AS A PERCENT OF THE TOTAL LOAN FINANCIAL ASSISTANCE
AMOUNT REQUESTED; AND

2. A SITE PLAN FOR THE PROJECT THAT IS CONSISTENT
WITH THE COUNTYS LOCAL STRATEGIC ECONOMIC DEVELOPMENT PLAN AS TO THE
LOCATION AND TYPE OF PROJECT.

(II) THE SECRETARY MAY NOT APPROVE A LOAN FINANCIAL
ASSISTANCE FOR A PROJECT UNDER THIS SECTION UNLESS THE SECRETARY
APPROVES THE MARKETING PLAN AND SITE PLAN FOR THE PROJECT SUBMITTED
WITH THE APPLICATION.