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Statutes Text

Article - Housing and Community Development




§6–701.

    (a)    In this subtitle the following words have the meanings indicated.

    (b)    “Community development financial institution” has the meaning stated in 12 U.S.C. § 4702.

    (c)    “Community development organization” means an entity that meets the requirements under § 6–704 of this subtitle.

    (d)    (1)    “Financial assistance” means a grant, a loan, or an investment provided under this subtitle.

        (2)    “Financial assistance” includes:

            (i)    an assurance;

            (ii)    a guarantee;

            (iii)    a prepayment of interest on a subordinate or superior loan or portion of a loan;

            (iv)    a reduction in the principal obligation of or rate of interest payable on a loan or a portion of a loan; and

            (v)    any other form of credit enhancement.

    (e)    “National capital region” means the areas of the State located within a sustainable community in Montgomery County or Prince George’s County.

    (f)    “Program” means the National Capital Strategic Economic Development Program.

    (g)    “Sustainable community” means an area designated as a sustainable community under § 6–205 of this title.



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