§ 6-504
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/md/housing-and-community-development/6-504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§6–504.
(a)A corporation, a foundation, or any other legal entity is a community development organization eligible to apply for Program funds if:
(1)the purpose of the organization is to implement a clear revitalization strategy in a neighborhood or set of neighborhoods within Baltimore City or the inner–beltway communities of Baltimore County or Anne Arundel County; and
(2)no part of the organization’s net earnings inures to the benefit of a private shareholder or an individual holding an interest in the entity.
(b)The community development organization’s application must contain a neighborhood revitalization plan that includes community enhancement projects located within a sustainable community.
(c)A community development organization may apply with another community development organization or with a community development financial institution that has the capacity and experience to assist in the financing of real estate projects within the community.
(d)The community enhancement projects for which a community development organization applies for Program funds may be located in more than one political subdivision.