To qualify as an eligible recipient of financial assistance, an applicant shall:
- A. If a nonprofit organization, corporation, or partnership, be in good standing and qualified to do business in Maryland;
- B. Have the legal capacity and all necessary authorization to incur the obligations of the financial assistance;
- C. Own the project or have a valid contract to purchase or lease the project;
- D. Demonstrate credit worthiness and repayment ability acceptable to the Department; and
- E. Demonstrate the ability to complete and operate the project.
Authority: Housing and Community Development Article, §§2-111 and 3-206 and Title 4, Subtitle 2, Annotated Code of Maryland
Effective date: July 16, 2020 (47:14 Md. R. 674)