Md. Code Regs. 05.13.06.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.13.06.02 - Definitions

A. In this chapter, the following words have the meanings indicated and as defined in the Act.

B. Terms Defined.

(1) "Advisory Committee" means the Interagency Food Desert Advisory Committee established under Housing and Community Development Article, § 6-308.2, Annotated Code of Maryland.

(2) "Business" means a commercial or industrial enterprise.

(3) "Department" means the Department of Housing and Community Development, a principal department of the State.

(4) "Financial assistance" means any form of grant, loan, assurance, guarantee, or other credit enhancement, reduction in the principal obligation of or in the rate of interest payable on a loan or portion of a loan, and prepayment of interest on a subordinate or superior loan or portion of a loan.

(5) "Financial assistance documents" means those documents executed by an approved applicant and the Department which set forth the terms and conditions of financial assistance under the Program.

(6) "Food desert" means that part of priority funding area designated by the Secretary under Regulation .05 of this chapter.

(7) "Food desert project" or "project" means a project or activity which qualifies for financial assistance under the Program.

(8) "Local jurisdiction" means:

(a) A municipal corporation subject to the provisions of the State Constitution, Article XI-E; or

(b) Any of the 23 counties of the State and the Mayor and City Council of Baltimore.

(9) "Nonprofit organization" means a corporation, foundation, or other entity that specifies in its charter or bylaws that no part of the net earnings may inure to the benefit of any private shareholder or individual holding any interest in the entity.

(10) "Program" means the Business Development Program, also known as the Neighborhood Business Works Program.

(11) "Small business" means a business that employs a number of employees, or has annual gross receipts, no greater than the limits set forth by the U.S. Small Business Administration.

(12) "Secretary" means the Secretary of Housing and Community Development.

(13) "State" means the State of Maryland.

Md. Code Regs. 05.13.06.02

Regulation .02 adopted effective 42:9 Md. R. 646, eff.5/11/2015