Md. Code Regs. 05.20.03.02

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

Section 05.20.03.02 - Definitions

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "Act" means Housing and Community Development Article, § 4-509, Annotated Code of Maryland.

(2) "Anchor institution" means:

(a) An institution of higher education in the State; or

(b) A hospital in the State that:

(i) Has a group of at least five physicians who are organized as a medical staff for the institution;

(ii) Maintains facilities to provide, under the supervision of the medical staff, diagnostic and treatment services for two or more unrelated individuals; and

(iii) Admits or retains the individuals for overnight care.

(3) "Application" means an application to the Department as described in Regulation .05 of this chapter.

(4) "Blighted area" means an area in which a majority of buildings have declined in productivity by reason of obsolescence, depreciation, or other causes to an extent that they no longer justify fundamental repairs and adequate maintenance.

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

(6) "Financial assistance " means a grant or a loan.

(7) "Fund" means the Seed Community Development Anchor Institution Fund established under Housing and Community Development Article, § 4-509, Annotated Code of Maryland.

(8) "Matching funds" means funds from a private source that are contributed to the project in an amount that equals the amount of financial assistance received from the Fund.

(9) "Program" means the Seed Community Development Anchor Institution Program established under the provisions of the Act.

(10) "Project" means a project submitted by an anchor institution to the Secretary for approval in accordance with the Act and this chapter.

(11) "Recipient of financial assistance" means an anchor institution approved by the Department to receive financial assistance under the Program.

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

Md. Code Regs. 05.20.03.02

Regulation .02 adopted effective 44:16 Md. R. 808, eff. 8/14/2017