Md. Code Regs. 05.20.02.04

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

Section 05.20.02.04 - Applications

A. Applications for financial assistance shall be accepted in one or more competitive rounds to be announced by the Department annually.

B. An application submitted to the Department shall:

(1) Be on standard forms prescribed by the Department;

(2) Be submitted by a CDO;

(3) Be for a project that:

(a) Is located within Baltimore City or the inner-beltway communities of Baltimore County or Anne Arundel County; and

(b) Is part of and serves to implement a community enhancement project;

(4) State the amount and type of financial assistance requested;

(5) Provide a comprehensive description of the applicant and project including:

(a) The neighborhood revitalization plan that includes community enhancement projects located in sustainable communities;

(b) A description of the community conditions and how the project or applicant will address those conditions;

(c) The ability of the project to address identified challenges within the community;

(d) A projected timeline for implementation of the project;

(e) The ability of the applicant to carry out the proposed project in accordance with the projected timeline;

(f) Other public and private resources available for implementing the project; and

(g) The social and economic opportunities created by the project;

(6) Provide a budget, in a form acceptable to the Department, that at a minimum shows anticipated project costs and expenses, anticipated sources of project revenue, and identification of the revenues that can be used to repay the financial assistance provided by the Program if provided as a loan;

(7) Propose benchmarks for evaluating whether the proposed project results in a desired outcome such as community stabilization or reversing the social, economic, and physical decline of the sustainable community in which the project is located;

(8) Describe any public input the applicant has received on the proposed project, including the nature and extent of the public support for or in opposition to the proposed project;

(9) If the project involves the applicant undertaking demolition, development, or rehabilitation, demonstrate:

(a) That, upon completion, the project will be in compliance with all applicable zoning requirements and standards as well as the applicable building code of the local jurisdiction in which the project is located; and

(b) The ability to gain site control of the project through ownership, leasehold interest, contract, option, or other written agreement satisfactory to the Department;

(10) Demonstrate that the project can be completed within the time period of the Program agreement, as determined by the Department;

(11) Contain the organizational documents of the applicant;

(12) Describe whether historic properties or districts will be impacted and how the applicant will comply with the requirements of State Finance and Procurement Article, §§ 5A -325-5A-326, Annotated Code of Maryland, and Financial Institutions Article, § 13-1112(b), Annotated Code of Maryland;

(13) Contain written approval for the proposed project in the form of a local government resolution or letter of support; and

(14) Include other information or documentation the Department may require.

C. An application for financial assistance may be submitted to fund one or more projects.

D. A CDO may submit an application with another CDO or with a community development financial institution that has the capacity and experience to assist in the financing of real estate projects within the community.

E. A recipient of financial assistance may file one or more applications in accordance with schedules established by the Department.

Md. Code Regs. 05.20.02.04

Regulation .04 adopted effective 44:16 Md. R. 808, eff. 8/14/2017