§ 6-501. Definitions.

MD House & Comm Dev Code § 6-501 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(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 set forth under § 6–504(a) 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)    “Program” means the Baltimore Regional Neighborhood Initiative Program.

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