MARYLAND COMMUNITY INVESTMENT CORPORATION

c/o Division of Policy, Strategy, & Research
Department of Housing & Community Development
7800 Harkins Road, Lanham, MD 20706
(301) 429-7643
e-mail: haley.lemieux@maryland.gov

Department of Housing & Community Development, 7800 Harkins Road, Lanham, Maryland, March 2018. Photo courtesy of Department of Housing & Community Development.

Quarterly Report to Governor, General Assembly, & Joint Audit & Evaluation Committee (Chapter 123, Acts of 2024).

An instrumentality of the State, the Maryland Community Investment Corporation is a body politic and corporate.

The Corporation is required to do all things necessary to qualify as a qualified community development entity; apply to the U.S. Department of the Treasury to be designated as a qualified community development entity; and apply to the U.S. Department of the Treasury for an allocation of new markets tax credits. Moreover, the Corporation is to receive, make, and facilitate qualified equity investments and financial assistance available in Maryland's low–income communities; allocate any new markets tax credits received by the Corporation; and coordinate with other qualified community development entities in Maryland to help ensure that low–income communities are receiving the maximum benefit of qualified equity investments in the State. Further, the Corporation will make investments and financial assistance available to Maryland's low–income communities from the Corporation’s money or from any other source; build a long–term financial capacity and sustained investment in low–income communities in the State; coordinate and create pathways to follow–on financing in Maryland; and foster inclusive and diverse entrepreneurship and innovation throughout the State, which may include initiatives to raise awareness of programs to assist low–income communities (Code Economic Development Article, secs. 10-1101 through 10-1123).

An Advisory Committee and an Investment Committee will be formed by the Corporation (Code Economic Development Article, secs. 10-1108, 10-1109).

Governing the Corporation is the Board of Directors, which consists of seven members. Of these, two are appointed to four-year terms by the Governor with Senate advice and consent; and five serve ex officio. The Board chooses the Chair (Code Economic Development Article, sec. 10-1105).

Maryland Constitutional Offices & Agencies
Maryland Departments
Maryland Independent Agencies
Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards
Maryland Universities & Colleges
Maryland Counties
Maryland Municipalities
Maryland at a Glance

Maryland Manual On-Line

Search the Manual
e-mail: mdmanual@maryland.gov

This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user. Tell Us What You Think About the Maryland State Archives Website! [ Archives' Home Page  ||  Maryland Manual On-Line  ||  Reference & Research ||  Search the Archives   ||  Education & Outreach  ||  Archives of Maryland Online ] Governor     General Assembly    Judiciary     Maryland.Gov

© Copyright July 02, 2024 Maryland State Archives