Md. Code Regs. 11.03.08.02 - Eligibility Requirements - General
A. The Administration may provide grants and
loans for the acquisition of land and the improvement or rehabilitation of
airport facilities at those privately owned airports open to the general
public, provided the:
(1) Governing body of
the county in which the airport is located has granted exemption to the airport
owner from county property taxes as authorized by the Tax-Property Article,
ยง8-302, Annotated Code of Maryland; and
(2) Airport has been found to be essential in
meeting the needs of the public and is included in the Maryland Aviation System
Plan developed by the Maryland Department of Transportation.
B. Project grants and loans shall
be made as reimbursement for a fixed percentage of eligible project costs, not
in excess of that stated in Regulation .03.
C. The award of project grants and loans
shall be made subject to the following conditions:
(1) Availability of State funds;
(2) A written determination by the
Administration that the proposed project is prudent, cost effective, timely,
and in conformance with acceptable airport design standards;
(3) Assurances are obtained from the airport
owner and any successive owner or owners that the airport will remain available
to serve the public for a period of time commensurate with the useful life of
the improvements obtained with the funds;
(4) If the airport closes for public use, the
airport owner shall be required to reimburse the Administration for the
unamortized portion of the funds, as determined by the
Administration;
(5) The unamortized
remaining balance of grants and loans may be secured by the use of recorded
liens or bonds and shall be paid to the Administration if the airport closes
for public use;
(6) A determination
by the Administration that the airport owner has sufficient funds to finance,
on a timely basis, that portion of the project costs not provided by the
State.
Notes
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