Maryland Statutes
Part IV - Financial Assistance From Fund
Section 5-320 - Eligibility of Applicants; Applications for Financial Assistance

(a)    To be eligible for financial assistance from the Fund, an applicant shall be:
        (1)    a local economic development fund that meets the criteria set forth in Part V of this subtitle; or
        (2)    an individual, private business, nonprofit entity, or local government, or the Corporation that intends to use the requested financial assistance for a project that:
            (i)    except as provided in subsection (b) of this section, is in an eligible industry sector under § 5–321 of this subtitle; and
            (ii)    has a strong potential for expanding or retaining employment opportunities in the State.
    (b)    A project need not be in an eligible industry sector if the applicant:
        (1)    is located in a Tier I county; or
        (2)    (i)    is a local government or the Corporation; and
            (ii)    does not intend to use the financial assistance to carry out a project that benefits a particular private sector entity.
    (c)    In form and content acceptable to the Department, an applicant for financial assistance from the Fund shall submit to the Department an application that contains:
        (1)    the information that the Department or Authority considers necessary to evaluate the request for financial assistance; and
        (2)    for a Tier I county project:
            (i)    a marketing plan designed to market the project to prospective businesses;
            (ii)    a statement of planned marketing expenditures as a percent of the total financial assistance amount requested; and
            (iii)    a plan for the project that is consistent with the county’s local strategic economic development plan as to the location and type of project.