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PARRIS N. GLENDENING, Governor
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Ch. 98
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(b) "Designated neighborhood" means a geographically defined area of a local
jurisdiction which is designated as an eligible neighborhood in accordance with §
4-203(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;
(3) Acquisition of land and improvements;
(4) Site preparation;
(5) Construction, reconstruction, and rehabilitation;
(6) Acquisition of machinery, equipment, and furnishings;
(7) Essential start-up operating costs, including working capital and
initial occupancy expenses;
(8) Indemnity and surety bonds and premiums on insurance; and
(9) Other necessary fees and temporary relocation expenses.
(d) "Fund" means the Neighborhood Business Development Fund.
(e) "Local jurisdiction" means a municipal corporation or county.
(f) "Nonprofit organization" means a corporation, foundation, or other legal
entity that specifies in its charter or bylaws that no part of the net earnings may
inure to the benefit of any private shareholder or individual holding any interest in
such entity.
(g) ["Program" means the Neighborhood Business Development Program.
(h) ] "Project" means a neighborhood business development project which
receives financial assistance from the Neighborhood Business Development Fund.
[(i)] (H) "Small business" means a business that employs a number of
employees or has annual receipts no greater than limits set forth in regulations by the
Department which shall not exceed the standards set by the federal Small Business
Administration.
4-203.
(a) THERE IS A BUSINESS DEVELOPMENT PROGRAM WITHIN THE
NEIGHBORHOOD BUSINESS DEVELOPMENT PROGRAM.
(B) To qualify for financial assistance under the BUSINESS DEVELOPMENT
Program, a neighborhood business development project must be located in a
designated neighborhood.
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- 701 -
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