§ 6-301
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§6–301.
(a)In this subtitle the following words have the meanings indicated.
(1)“Development costs” means the costs incurred to develop, redevelop, or expand a neighborhood business development project.
(2)“Development costs” includes the costs of:
(i)necessary studies, surveys, plans, and specifications;
(ii)architectural, engineering, or other special services, including flood plain studies, environmental audits, and critical area or wetland assessments;
(iii)land and improvements;
(iv)site preparation;
(v)construction, reconstruction, and rehabilitation;
(vi)machinery, equipment, and furnishings;
(vii)essential operating costs, including working capital and occupancy expenses;
(viii)indemnity and surety bonds and premiums on insurance;
(ix)temporary relocation expenses; and
(x)other costs determined to be acceptable by the Department.
(c)“Eligible opportunity zone” means an area designated as a qualified opportunity zone under § 1400Z–1 of the Internal Revenue Code that is located in Allegany County, Garrett County, Somerset County, or Wicomico County.
(d)“Food desert” means the part of a priority funding area or an eligible opportunity zone designated by the Secretary under § 6–308(c) of this subtitle.
(e)“Fund” means the Neighborhood Business Development Fund.
(f)“Microenterprise” means a business that qualifies as a microenterprise under § 6–302 of this subtitle.
(g)“Priority funding area” means an area designated as a priority funding area under § 5–7B–02 of the State Finance and Procurement Article.
(h)“Program” means the Neighborhood Business Development Program.
(1)“Project” means a neighborhood business development project that receives financial assistance from the Fund.
(2)“Project” includes:
(i)a microenterprise project that receives financial assistance from the Fund; and
(ii)a food desert project that receives financial assistance from the Fund.
(j)“Small business” means a business that qualifies as a small business under § 6–302 of this subtitle.
(k)“Sustainable community” means the part of a priority funding area that:
(1)as determined by the Sustainable Growth Subcabinet, satisfies the requirements of § 6–205 of this title;
(2)has been designated as a BRAC Revitalization and Incentive Zone under Title 5, Subtitle 13 of the Economic Development Article; or
(3)has been designated a transit–oriented development under § 7–101 of the Transportation Article.