Section 6-301 - Definitions.
§ 6-301. Definitions.
(a) In general.- In this subtitle the following words have the meanings indicated.
Revisor's Note.
This subsection formerly was Art. 83B, § 4-202(a).
No changes are made.
(b) Development costs.-
(1) "Development costs" means the costs incurred to construct or rehabilitate 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 start-up operating costs, including working capital and initial occupancy expenses;
(viii) indemnity and surety bonds and premiums on insurance;
(ix) temporary relocation expenses; and
(x) other necessary fees.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 83B, § 4-202(c).
In paragraph (2)(ii) of this subsection, the former phrase "related to construction or rehabilitation" is deleted as surplusage.
(c) Fund.- "Fund" means the Neighborhood Business Development Fund.
Revisor's Note.
This subsection formerly was Art. 83B, § 4-202(d).
No changes are made.
(d) Microenterprise.- "Microenterprise" means a business with not more than five employees that:
(1) requires not more than $35,000 in total start-up capital or financial assistance; and
(2) does not have access to the traditional commercial banking sector.
Revisor's Note.
This subsection formerly was Art. 83B, § 4-202(f).
The only changes are in style.
(e) Program.- "Program" means the Neighborhood Business Development Program.
Revisor's Note.
This subsection is new language added to avoid repetition of the full name of the Neighborhood Business Development Program.
(f) Project.-
(1) "Project" means a neighborhood business development project that receives financial assistance from the Fund.
(2) "Project" includes a microenterprise project that receives financial assistance from the Fund.
Revisor's Note.
This subsection formerly was Art. 83B, § 4-202(h).
The only changes are in style.
Defined Terms.
"Fund" § 6-301
(g) Small business.- "Small business" means a business that qualifies as a small business under § 6-302 of this subtitle.
Revisor's Note.
This subsection is new language added to provide a convenient reference to "small business".
For the balance of former Art. 83B, § 4-202(i), see § 6-302 of this subtitle.
(h) Sustainable community.- "Sustainable community" means the part of a priority funding area that:
(1) as determined by the Smart 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.
[An. Code 1957, art. 83B, § 4-202(a)-(d), (f), (h); 2005, ch. 26, § 2; 2008, ch. 36, § 5; ch. 338, § 1; 2010, chs 118, 487.]