(5) (4) (I) EACH LOAN AGREEMENT UNDER THIS SECTION SHALL
INCLUDE A PROVISION FOR REPAYMENT OF PRINCIPAL TO BEGIN ONLY AFTER THE
PROJECT IS INITIALLY OCCUPIED.

(II) THE SECRETARY MAY INCLUDE IN A LOAN AGREEMENT UNDER
THIS SECTION A PROVISION FOR PAYMENT OF INTEREST TO BEGIN ONLY AFTER THE
PROJECT IS INITIALLY OCCUPIED.

(6) (5) (I) TO BE ELIGIBLE FOR FINANCIAL ASSISTANCE UNDER THIS
SECTION, THE MARYLAND ECONOMIC DEVELOPMENT CORPORATION SHALL ENLIST
AS A CO-APPLICANT FOR THE FINANCIAL ASSISTANCE THE QUALIFYING QUALIFIED
DISTRESSED COUNTY OR MUNICIPAL CORPORATION APPLYING UNDER SUBSECTION
(E) OF THIS SECTION IN WHICH THE PROJECT TO BE FUNDED UNDER THIS SECTION
IS LOCATED.

(II) AS THE CO-APPLICANT, THE QUALIFYING QUALIFIED
DISTRESSED COUNTY OR MUNICIPAL CORPORATION APPLYING SHALL:

1. CERTIFY THAT IT SUPPORTS THE PROJECT AND THAT THE
PROPOSED FINANCIAL ASSISTANCE IS CONSISTENT WITH THE QUALIFYING
QUALIFIED DISTRESSED COUNTY'S PLAN FOR ECONOMIC DEVELOPMENT; AND

2. PROVIDE TO THE DEPARTMENT DETAILS OF THE
QUALIFYING QUALIFIED DISTRESSED COUNTY'S SUPPORT FOR AND PARTICIPATION
IN THE PROJECT.

(7) (6) IN APPROVING FINANCIAL ASSISTANCE, THE SECRETARY
SHALL CONSIDER THE AGGREGATE AMOUNT OF FINANCIAL ASSISTANCE THAT MAY
ALREADY HAVE BEEN PROVIDED FOR A PARTICULAR QUALIFYING QUALIFIED
DISTRESSED COUNTY UNDER THIS SECTION AND UNDER ANY OTHER STATE
ECONOMIC DEVELOPMENT PROGRAM TO ENSURE THAT NO PARTICULAR
QUALIFYING QUALIFIED DISTRESSED COUNTY BENEFITS DISPROPORTIONATELY
FROM FINANCIAL ASSISTANCE UNDER THIS SECTION.

(D) THE DEPARTMENT MAY DEVELOP A LOCAL STRATEGIC PLAN FOR
ECONOMIC DEVELOPMENT IN A QUALIFYING QUALIFIED DISTRESSED COUNTY IN
CONSULTATION WITH A MUNICIPAL CORPORATION IN THAT COUNTY IF:

(1) THE QUALIFYING QUALIFIED DISTRESSED COUNTY HAS NOT
DEVELOPED A LOCAL STRATEGIC PLAN FOR ECONOMIC DEVELOPMENT; OR

(2) THE QUALIFYING QUALIFIED DISTRESSED COUNTY HAS DEVELOPED
A LOCAL STRATEGIC PLAN FOR ECONOMIC DEVELOPMENT BUT IS NOT ACTIVELY
PURSUING FINANCIAL ASSISTANCE FROM THE FUND.

(E) IF A QUALIFIED DISTRESSED COUNTY HAS DEVELOPED A LOCAL
STRATEGIC PLAN FOR ECONOMIC DEVELOPMENT BUT IS NOT ACTIVELY PURSUING
FINANCIAL ASSISTANCE FROM THE FUND, A MUNICIPAL CORPORATION MAY APPLY
FOR FINANCIAL ASSISTANCE FROM THE FUND IN A MANNER CONSISTENT WITH THE
PLAN DEVELOPED BY THE QUALIFIED DISTRESSED COUNTY.