Md. Code, Local Government § 21–407

(a) In this part the following words have the meanings indicated.

(b) “Bond” means a revenue bond, note, or other similar instrument issued

by a municipality in accordance with this part.

(c) “Cost” includes the cost of:

(1) construction, reconstruction, and renovation;

(2) acquisition of structures, real or personal property, rights, rights–

of–way, franchises, easements, and interests acquired or to be acquired by the

Maryland Economic Development Corporation, the State, a unit or political

subdivision of the State, or another governmental unit having jurisdiction over the

infrastructure improvement;

(3) machinery and equipment, including machinery and equipment

needed to expand or enhance municipal services to a special taxing district;

(4) financing charges and interest before and during construction

and, if the municipality considers it advisable, for a limited period after completion

of the construction;

(5) interest and reserves for principal and interest, including the cost

of municipal bond insurance and any other type of financial guaranty and costs of

issuance;

(6) extensions, enlargements, additions, and improvements;

(7) architectural, engineering, financial, and legal services;

(8) plans, specifications, studies, surveys, and estimates of costs and

revenues;

(9) administrative expenses necessary or incident in determining to

proceed with infrastructure improvements; and

(10) other expenses necessary or incident to acquiring, constructing,

and financing infrastructure improvements.

(d) “MEDCO obligation” means any debt instrument that the Maryland

Economic Development Corporation issues for the purposes stated in § 21–410(a)(2)

of this subtitle.

(e) “State hospital redevelopment” means any combination of private or

public commercial, residential, or recreational uses, improvements, and facilities

that:

(1) is part of a comprehensive coordinated development plan or

strategy involving property that:

(i) was occupied formerly by a State facility, as defined in §

10–101 of the Health – General Article, or a State residential center, as defined in §

7–101 of the Health – General Article; or

(ii) is adjacent or reasonably proximate to property that was

occupied formerly by a State facility, as defined in § 10–101 of the Health – General

Article, or a State residential center, as defined in § 7–101 of the Health – General

Article;

(2) in accordance with design development principles, maximizes use

of the property by those constituencies it is intended to serve; and

(3) is designated as a State hospital redevelopment by:

(i) the Sustainable Growth Subcabinet established under § 9–

1406 of the State Government Article; and

(ii) the local government or multicounty agency with land use

and planning responsibility for the relevant area.

(f) “Transit–oriented development” has the meaning stated in § 7–101 of

the Transportation Article.