The Department annually shall allocate available funds as described below:
- A. Up to 10 percent of the funds shall be placed in a reserve fund for emergency projects and for grant amendments and loan or loan guarantee increases necessitated by change orders and cost overruns;
- B. Not more than 25 percent of the funds not reserved under §A, of this regulation, shall be set aside for grants; and
- C. Funds remaining after the reserve fund and grant fund are established shall be used for loans and loan guarantees.
Authority: Chapter 306, Acts of 1982, Laws of Maryland
Effective date: August 12, 1985 (12:16 Md. R. 1606)
Chapter recodified from COMAR 10.17.14 to CIMAR 26.03.10