- (a) The moneys appropriated to the Fund may be used by the Authority for loans up to 25 percent of the total debt required, but not to exceed $100,000 for working capital and fixed asset purposes.
- (b) The moneys appropriated to the Fund may also be used to purchase credit enhancements on behalf of targeted businesses which shall support loans made by and/or through financial institutions to such targeted businesses. Credit enhancements purchased shall not exceed $100,000 and the credit enhancement amount purchased shall be determined by the Authority.
(c) The moneys appropriated to the Fund shall not be used for the following purposes:
- (1) Grants;
- (2) Restaurants and professional office buildings except in those targeted census tracts, defined in § 2020(1)d. of Title 30;
- (3) Projects which do not attract or retain employment opportunities;
- (4) Private, nonprofit activities; and
- (5) Private or public speculative real estate ventures.
67 Del. Laws, c. 46, § 26(a); 67 Del. Laws, c. 285, § 21(a); 69 Del. Laws, c. 77, § 25(b); 81 Del. Laws, c. 49, § 1