(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.
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