Md. Code, Housing and Community Development § 6-501
This is the official text of Md. Code, Housing and Community Development § 6-501, part of Maryland’s Code, Housing and Community Development — governs housing programs and community development.
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§6–501.
Official statutory text
(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.
(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.
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