(a) The Department shall: (1) administer the Business Development Program; (2) adopt regulations to carry out the Business Development Program, including a process to designate an area as a food desert under subsection (c) of this section; and (3) make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises. (b) The Department may: (1) sell, assign, or otherwise dispose of a Program loan or revenue from a loan on terms and conditions acceptable to the Department, including selling loans at a discount, if the maximum sale proceeds in any fiscal year do not exceed limits that the Department sets by regulation; (2) apply the proceeds received from a sale, assignment, or other disposition under item (1) of this subsection to the Fund; (3) pledge a Program loan as security for any: (i) business project loan, bond, or security that is issued, made, or purchased by the Community Development Administration under Title 4 of this article; or (ii) insurance, guaranty, or credit enhancement on a Program loan or business project under § 4-223 of this article; and (4) without approval or execution by the Board of Public Works, sell or assign any equity interest acquired under § 6-305(d) of this subtitle. (c) The Secretary, on the recommendation of the Interagency Food Desert Advisory Committee established under § 6-308.2 of this subtitle, may designate an area as a food desert after considering the following factors: (1) availability of fresh fruit, vegetables, and other healthy foods in the area; (2) income levels of local residents; (3) transportation needs of local residents and the availability of public transportation; (4) comments from local governments; and (5) any other factors that the Department considers relevant.
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