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Maryland Code, Housing and Community Development § 6-308.3

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) If the Department determines that an entity is capable of administering a food desert project, the entity may originate and administer financial assistance to a food desert project in accordance with standards the Department adopts by regulation.

(b) The Department may:

(1) pay an approved entity a reasonable origination, application, and processing fee for each food desert project that is originated by the approved entity;

(2) directly fund the financial assistance for a food desert project that is originated by an approved entity;

(3) provide financial assistance to an approved entity for the purpose of the approved entity providing financial assistance for a food desert project in accordance with this subtitle; and

(4)(i) provide small loans in amounts that are not more than $100,000 per loan to an approved entity for assistance in providing or maintaining access to healthy food in urban or rural food deserts, including by providing loans for:

1. refrigerators, freezers, and other equipment; and

2. subject to subsection (c) of this section, operating costs incurred in providing access to healthy food in urban or rural food deserts; and

(ii) work with intermediaries to administer the small loans authorized under item (i) of this paragraph.

(c) The Department shall forgive a loan for operating costs made under subsection (b)(4)(i)2 of this section after 5 years, if the loan recipient maintains continuous operations at the same location during that time.

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Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 6-308.3 - last updated January 01, 2025 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-6-308-3/

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