Md. Code Ann., Hous. & Cmty. Dev. § 6-308.3
Redline — January 1, 2020 → current.View current text →
Current — January 1, 2022
As of January 1, 2020
(a) If the Department determines that an entity is capable of administering a food desert project, the entity may originate and administer financial assistance to a food desert project in accordance with standards the Department adopts by regulation.
(a) If the Department determines that an entity is capable of administering a food desert project, the entity may originate and administer financial assistance to a food desert project in accordance with standards the Department adopts by regulation.
(b) The Department may: (1) pay an approved entity a reasonable origination, application, and processing fee for each food desert project that is originated by the approved entity; (2) directly fund the financial assistance for a food desert project that is originated by an approved entity; (3) provide financial assistance to an approved entity for the purpose of the approved entity providing financial assistance for a food desert project in accordance with this subtitle; and (4) (i) provide small loans in amounts that are not more than $50,000 per loan to an approved entity for assistance in providing better access to healthy food in food deserts, including by providing loans for refrigerators, freezers, and other equipment; and (ii) work with intermediaries to administer the small loans authorized under item (i) of this paragraph.
(b) The Department may: (1) pay an approved entity a reasonable origination, application, and processing fee for each food desert project that is originated by the approved entity; (2) directly fund the financial assistance for a food desert project that is originated by an approved entity; (3) provide financial assistance to an approved entity for the purpose of the approved entity providing financial assistance for a food desert project in accordance with this subtitle; and (4) (i) provide small loans in amounts that are not more than $100,000 per loan to an approved entity for assistance in providing or maintaining access to healthy food in urban or rural food deserts, including by providing loans for: 1. refrigerators, freezers, and other equipment; and 2. subject to subsection (c) of this section, operating costs incurred in providing access to healthy food in urban or rural food deserts; and (ii) work with intermediaries to administer the small loans authorized under item (i) of this paragraph.
(c) The Department shall forgive a loan for operating costs made under subsection (b)(4)(i)2 of this section after 5 years, if the loan recipient maintains continuous operations at the same location during that time.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.