Md. Code Regs. 05.20.02.03 - Eligible Applicants and Uses
A. A recipient of financial assistance shall
meet the following minimum requirements:
(1)
Be a CDO;
(2) Not have defaulted on
any prior financial assistance from the Department;
(3) Not be currently barred or suspended from
any of the Department 's programs;
(4) Have the legal capacity and all necessary
legal authority to incur the obligations involved in the form of financial
assistance provided under the Program; and
(5) Be in good standing and qualified to do
business in Maryland.
B.
Financial assistance may be used for any costs and expenses related to the
development or implementation of a community enhancement project as approved by
the Secretary.
C. Total noncapital
expenditures from the Fund to applicants may not exceed 40 percent of a Program
agreement.
D. A recipient of
financial assistance may grant or lend all or a portion of the financial
assistance it receives from the Program to a designated third party to carry
out the project in accordance with the terms and conditions of an agreement
with the Department.
Notes
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