(a) In this subtitle the following words have the meanings indicated. (b) (1) "Development costs" means the costs incurred to develop, redevelop, or expand 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 operating costs, including working capital and occupancy expenses; (viii) indemnity and surety bonds and premiums on insurance; (ix) temporary relocation expenses; and (x) other costs determined to be acceptable by the Department. (c) "Eligible opportunity zone" means an area designated as a qualified opportunity zone under § 1400Z-1 of the Internal Revenue Code that is located in Allegany County, Garrett County, Somerset County, or Wicomico County. (d) "Food desert" means the part of a priority funding area or an eligible opportunity zone designated by the Secretary under § 6-308(c) of this subtitle. (e) "Fund" means the Neighborhood Business Development Fund. (f) "Microenterprise" means a business that qualifies as a microenterprise under § 6-302 of this subtitle. (g) "Priority funding area" means an area designated as a priority funding area under § 5-7B-02 of the State Finance and Procurement Article. (h) "Program" means the Neighborhood Business Development Program. (i) (1) "Project" means a neighborhood business development project that receives financial assistance from the Fund. (2) "Project" includes: (i) a microenterprise project that receives financial assistance from the Fund; and (ii) a food desert project that receives financial assistance from the Fund. (j) "Small business" means a business that qualifies as a small business under § 6-302 of this subtitle. (k) "Sustainable community" means the part of a priority funding area that: (1) as determined by the Sustainable 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.
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