ROBERT L. EHRLICH, JR., Governor                             Ch. 209

(2)     The financial assistance from the Neighborhood Business
Development Fund is the least amount necessary to make the project financially
feasible;

(3)     The project is ready to proceed upon funding of financial assistance
from the Business Development Program; and

(4)     The local jurisdiction adopted a local resolution, or its authorized
designee delivered a letter to the Business Development Program, expressing support
for the project.

4-205.

(A)     The Department shall:

(1)     Manage, supervise, and administer the Business Development
Program;

(2)     Adopt rules and regulations to carry out the Business Development
Program in conformance with statutory requirements; [and]

(3)     For each category of financing described under § 4-204(a) of this
subtitle, establish minimum percentages or amounts of private and non-state public
funding that the applicant is required to secure before the Department may
determine that the applicant is qualified for the Business Development Program; AND

(4)  HAVE THE AUTHORITY TO MAKE A REASONABLE, GOOD FAITH
EFFORT TO MAKE 25% OF THE BUSINESS DEVELOPMENT PROGRAM LOANS AND
GRANTS TO MICROENTERPRISES.

(B)  THE DEPARTMENT MAY:

(I) (1) SELL, ASSIGN, OR OTHERWISE DISPOSE OF ANY BUSINESS
DEVELOPMENT PROGRAM LOAN OR REVENUE FROM A LOAN ON TERMS AND
CONDITIONS ACCEPTABLE TO THE DEPARTMENT, INCLUDING SELLING LOANS AT A
DISCOUNT, PROVIDED HOWEVER, THAT THE MAXIMUM SALE PROCEEDS IN ANY
FISCAL YEAR DO NOT EXCEED $4,000,000; AND

(II) (2) APPLY THE PROCEEDS RECEIVED FROM ANY SUCH SALE
SALE, ASSIGNMENT, OR OTHER DISPOSITION UNDER ITEM (1) OF THIS SUBSECTION
TO THE NEIGHBORHOOD BUSINESS DEVELOPMENT FUND; AND

(5) TRY TO MAKE 25% OF ITS BUSINESS DEVELOPMENT PROGRAM LOANS
AND GRANTS TO MICROENTERPRISES.

4-208.

(a) The Neighborhood Business Development Program shall be operated with
MONEYS AVAILABLE TO THE PROGRAM INCLUDING moneys in the Neighborhood
Business Development Fund, which Fund shall be a continuing, nonlapsing special
fund consisting of:

(1) Moneys appropriated by the State for the Neighborhood Business
Development Program;

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