Ch. 195

2004 LAWS OF MARYLAND

CHAPTER 195
(House Bill 663)

AN ACT concerning

Maryland Historical Trust - Historic Preservation Loan Fund - Refinancing

Properties

FOR the purpose of authorizing the Historic Preservation Loan Fund of the Maryland
Historical Trust to make loans to certain entities to refinance historic
properties; and generally relating to the Historic Preservation Loan Fund of the
Maryland Historical Trust.

BY repealing and reenacting, with amendments,

Article 83B - Department of Housing and Community Development
Section 5-612(d)
Annotated Code of Maryland
(2003 Replacement Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 83B - Department of Housing and Community Development

5-612.

(d) The MHT Loan Fund may be used for the following purposes:

(1)     To make loans to nonprofit organizations, local jurisdictions, business
entities, and individuals for the purpose of:

(i) Acquiring, rehabilitating, [or] restoring, OR REFINANCING
historic properties; or

(ii) Short-term financing for costs directly related to work required
or recommended by the Trust or the State Historic Preservation Officer to be
undertaken before proceeding with or continuing a construction project in the State
being funded with federal or State moneys, which may include the costs of studies,
surveys, plans and specifications, and architectural, engineering, or other special
services;

(2)     To cover administrative costs directly related to the MHT Loan
Program;

(3)     To fund the purchase or acquisition by the Trust of historic properties
or partial interests in historic properties for use in accordance with the Trust's
authorized purposes or for resale or lease subject to appropriate preservation
covenants; and

(4)     To fund the costs of restoration or rehabilitation of historic properties
owned by the Trust for use in accordance with the Trust's authorized purposes or for

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