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Delaware Code Title 29. State Government § 8748A. Fund purposes

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) The moneys appropriated to the Fund may be used by the Authority for loans up to 25 percent of the total debt required, but not to exceed $100,000 for working capital and fixed asset purposes.

(b) The moneys appropriated to the Fund may also be used to purchase credit enhancements on behalf of targeted businesses which shall support loans made by and/or through financial institutions to such targeted businesses.  Credit enhancements purchased shall not exceed $100,000 and the credit enhancement amount purchased shall be determined by the Authority.

(c) The moneys appropriated to the Fund shall not be used for the following purposes:

(1) Grants;

(2) Restaurants and professional office buildings except in those targeted census tracts, defined in § 2020(1)d. of Title 30;

(3) Projects which do not attract or retain employment opportunities;

(4) Private, nonprofit activities;  and

(5) Private or public speculative real estate ventures.

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Cite this article: FindLaw.com - Delaware Code Title 29. State Government § 8748A. Fund purposes - last updated January 01, 2026 | https://codes.findlaw.com/de/title-29-state-government/de-code-sect-29-8748a/

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