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<section article="gec" article_name="Economic Development" number="12-608" title_number="12" title_name="Local Development Authorities and Resources" subtitle_number="6" subtitle_name="Montgomery County -- Business Improvement Districts">
  <level label="a">
    <text>The owners of nonexempt property who seek to establish a district corporation shall submit appropriate documentation as described in subsection (b) of this section to:</text>
    <level label="1">
      <text>the governing body of the county; and</text>
    </level>
    <level label="2">
      <text>if the proposed district is located within a municipal corporation in the county, the governing body of the municipal corporation.</text>
    </level>
  </level>
  <level label="b">
    <text>The appropriate documentation required under subsection (a) of this section shall contain:</text>
    <level label="1">
      <text>a statement setting forth:</text>
      <level label="i">
        <text>the proposed name and address of the district corporation; and</text>
      </level>
      <level label="ii">
        <text>the street address of each owner of nonexempt property and to the extent reasonably ascertainable, each commercial tenant within the proposed district;</text>
      </level>
    </level>
    <level label="2">
      <text>a statement expressing the intent to establish a district corporation that is signed by:</text>
      <level label="i">
        <text>owners of at least 51% interest in the assessed value of the nonexempt property and, subject to subsection (c) of this section, a designated board member of a condominium or cooperative housing corporation within the proposed district; and</text>
      </level>
      <level label="ii">
        <text>owners of at least 51% of the total number of parcels of nonexempt property and, subject to subsection (c) of this section, a designated board member of a condominium or cooperative housing corporation within the proposed district;</text>
      </level>
    </level>
    <level label="3">
      <text>a proposed 3–year business plan that contains:</text>
      <level label="i">
        <text>the goals and objectives of the proposed district;</text>
      </level>
      <level label="ii">
        <text>the annual proposed business improvement district tax for the proposed district’s common operations and the formula used to determine each member’s district tax; and</text>
      </level>
      <level label="iii">
        <text>the maximum amount and the nature of start–up costs incurred before the district’s establishment;</text>
      </level>
    </level>
    <level label="4">
      <text>a tax assessor’s map of the geographic area of the proposed district;</text>
    </level>
    <level label="5">
      <text>a list of the proposed initial board of the proposed district corporation;</text>
    </level>
    <level label="6">
      <text>the proposed articles of incorporation and the bylaws of the district corporation; and</text>
    </level>
    <level label="7">
      <text>for all nonexempt property within the proposed district:</text>
      <level label="i">
        <text>the name and mailing address of each owner; and</text>
      </level>
      <level label="ii">
        <text>the most recent assessed value.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>Notwithstanding any other provision of this title, subject to paragraph (2) of this subsection, a condominium or cooperative housing corporation that is located in the proposed district may petition to join the district corporation.</text>
    </level>
    <level label="2">
      <text>A condominium or cooperative housing corporation described under paragraph (1) of this subsection may petition to join the district only if:</text>
      <level label="i">
        <text>the condominium or cooperative housing corporation is governed by a board;</text>
      </level>
      <level label="ii">
        <text>the board votes to join the district corporation; and</text>
      </level>
      <level label="iii">
        <text>the board has a representative member of the board sign the appropriate documents required under subsection (b)(2) of this section.</text>
      </level>
    </level>
    <level label="3">
      <text>For the purposes of the votes cast under subsection (b)(2) of this section:</text>
      <level label="i">
        <text>a condominium or cooperative housing corporation shall be considered a single parcel; and</text>
      </level>
      <level label="ii">
        <text>the decision reached by the board shall constitute the vote of the condominium or cooperative housing corporation.</text>
      </level>
    </level>
  </level>
  <level label="d">
    <text>Within 45 days after receiving all appropriate documentation under subsection (b) of this section, the governing body of the county or a municipal corporation in the county shall schedule a public hearing on the application.</text>
  </level>
</section>
