There is hereby established and created a program to be known as the "Historic Property Grant Program." It shall be operated in accordance with the provisions of this Subtitle.

Definitions in Subtitles 24 and 27 of the County Code shall apply to this Subtitle and shall be supplemented by the definitions in Subsection (b) of this Section. The following terms used in this Subtitle are defined as follows: Fund: The Prince George's County Historic Property Grant Fund. Historic Property: A district, site, building, structure or object significant in the history, upland, and underwater archaeology, architecture, engineering and culture in the county, including remains related to a district, site, building, structure, or object. Historic Properties shall be defined as those not yet listed in the Inventory of Historic Resources and those properties not yet determined eligible for listing in the Historic Sites and Districts Plan or those properties not listed in the National Register of Historic Places (NRHP), or determined eligible for listing in the NRHP. Preservation Easement: The term "preservation easement" shall be defined as a non-possessory interest encumbering a qualifying property, whether the easement is appurtenant or in gross, and conveyed by a landowner for the purpose of preserving the historic property and restricting the development potential on the property in perpetuity. Program: The Prince George's County Historic Property Grant Program.

The powers of the program are exercised by the Planning Board. The Planning Board shall adopt regulations to carry out the provisions of this program. The Planning Board shall expend the amounts in the fund in accordance with Sections 26-102 and 26-105 of the Land Use Article of the Maryland Annotated Code to provide grants to nonprofit organizations or foundations, political subdivisions, or individuals for the purpose of acquiring, preserving, restoring, or rehabilitating historic properties. The Historic Preservation Commission, upon the advice of its Grants Committee, will review all applications and make its recommendations to the Planning Board.

The Planning Board or its designee shall have the right, upon prior written notice to the parcel owner, to enter upon the parcel subject to a historic preservation grant, to inspect the work for compliance with the terms and conditions of the preservation easement.

Funds for the program shall be authorized annually in The Maryland-National Capital Park and Planning Commission Budget.