A. A recipient of financial assistance shall meet the following minimum requirements:
- (1) Be a CDO;
- (2) Not have defaulted on any prior financial assistance from the Department;
- (3) Not be currently barred or suspended from any of the Department's programs;
- (4) Have the legal capacity and all necessary legal authority to incur the obligations involved in the form of financial assistance provided under the Program; and
- (5) Be in good standing and qualified to do business in Maryland.
- B. Financial assistance may be used for any costs and expenses related to the development or implementation of a community enhancement project as approved by the Secretary.
- C. Total noncapital expenditures from the Fund to applicants may not exceed 40 percent of a Program agreement.
- D. A recipient of financial assistance may grant or lend all or a portion of the financial assistance it receives from the Program to a designated third party to carry out the project in accordance with the terms and conditions of an agreement with the Department.
Authority: Housing and Community Development Article, §§2-111, 5-508, and 6-505(b), Annotated Code of Maryland
Effective date: August 14, 2017 (44:16 Md. R. 808)