{"data":{"id":"us-md/md.-code-local-government-21-407","jurisdiction":"us-md","citation":"Md. Code, Local Government § 21–407","heading":"","body":"(a) In this part the following words have the meanings indicated.\n(b) “Bond” means a revenue bond, note, or other similar instrument issued\nby a municipality in accordance with this part.\n(c) “Cost” includes the cost of:\n(1) construction, reconstruction, and renovation;\n(2) acquisition of structures, real or personal property, rights, rights–\nof–way, franchises, easements, and interests acquired or to be acquired by the\nMaryland Economic Development Corporation, the State, a unit or political\nsubdivision of the State, or another governmental unit having jurisdiction over the\ninfrastructure improvement;\n(3) machinery and equipment, including machinery and equipment\nneeded to expand or enhance municipal services to a special taxing district;\n(4) financing charges and interest before and during construction\nand, if the municipality considers it advisable, for a limited period after completion\nof the construction;\n(5) interest and reserves for principal and interest, including the cost\nof municipal bond insurance and any other type of financial guaranty and costs of\nissuance;\n(6) extensions, enlargements, additions, and improvements;\n(7) architectural, engineering, financial, and legal services;\n(8) plans, specifications, studies, surveys, and estimates of costs and\nrevenues;\n(9) administrative expenses necessary or incident in determining to\nproceed with infrastructure improvements; and\n(10) other expenses necessary or incident to acquiring, constructing,\nand financing infrastructure improvements.\n(d) “MEDCO obligation” means any debt instrument that the Maryland\nEconomic Development Corporation issues for the purposes stated in § 21–410(a)(2)\nof this subtitle.\n(e) “State hospital redevelopment” means any combination of private or\npublic commercial, residential, or recreational uses, improvements, and facilities\nthat:\n(1) is part of a comprehensive coordinated development plan or\nstrategy involving property that:\n(i) was occupied formerly by a State facility, as defined in §\n10–101 of the Health – General Article, or a State residential center, as defined in §\n7–101 of the Health – General Article; or\n(ii) is adjacent or reasonably proximate to property that was\noccupied formerly by a State facility, as defined in § 10–101 of the Health – General\nArticle, or a State residential center, as defined in § 7–101 of the Health – General\nArticle;\n(2) in accordance with design development principles, maximizes use\nof the property by those constituencies it is intended to serve; and\n(3) is designated as a State hospital redevelopment by:\n(i) the Sustainable Growth Subcabinet established under § 9–\n1406 of the State Government Article; and\n(ii) the local government or multicounty agency with land use\nand planning responsibility for the relevant area.\n(f) “Transit–oriented development” has the meaning stated in § 7–101 of\nthe Transportation Article.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=21-407","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"5aa7003c1c5e9c7cf6c9c7566507fe5f05434cab4596987ea3438b0ad5d640c7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-21-404","next":"us-md/md.-code-local-government-21-408"},"notice":"GroundRules: Original legal text. Not legal advice."}