A. A recipient of financial assistance shall meet the following minimum requirements:
- (1) Be an anchor institution;
- (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 community development projects in sustainable communities or in blighted areas of the State.
- C. 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, §4-509, Annotated Code of Maryland
Effective date: August 14, 2017 (44:16 Md. R. 808)
Regulation .02B amended effective January 5, 2026 (52:26 Md. R. 1309)
Regulation .03B amended effective January 5, 2026 (52:26 Md. R. 1309)
Regulation .04B amended effective January 5, 2026 (52:26 Md. R. 1309)