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<section article="gec" article_name="Economic Development" number="15-105" title_number="15" title_name="Baltimore City Community Enhancement Transit-Oriented Development Fund" subtitle_number="1">
  <level label="a">
    <text>The purpose of the Fund is to promote and assist community–based initiatives in qualified project areas consistent with the purpose of this title.</text>
  </level>
  <level label="b">
    <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
  </level>
  <level label="c">
    <level label="1">
      <text>The Fund consists of:</text>
      <level label="i">
        <text>money appropriated in the State budget to the Fund;</text>
      </level>
      <level label="ii">
        <text>proceeds of bonds that are made available for the use of the Fund, including general obligation bonds and grant anticipation revenue vehicles;</text>
      </level>
      <level label="iii">
        <text>money made available for qualifying uses by the Fund from other governmental sources, including community development block grants and the Maryland Transportation Trust Fund;</text>
      </level>
      <level label="iv">
        <text>contributions to the Fund made by the private developers of the relevant transit–oriented development;</text>
      </level>
      <level label="v">
        <text>ground rents or land sale proceeds in accordance with § 10–306(c)(1) of the State Finance and Procurement Article;</text>
      </level>
      <level label="vi">
        <text>payments of principal of and interest on loans made under this title;</text>
      </level>
      <level label="vii">
        <text>investment earnings of the Fund; and</text>
      </level>
      <level label="viii">
        <text>any other money from any other source, public or private, accepted for the benefit of the Fund.</text>
      </level>
    </level>
    <level label="2">
      <text>Contributions to the Fund under paragraph (1)(iv) of this subsection shall be separately accounted for in the Fund so that the revenue derived from a development in a particular qualified project area shall return to a qualified recipient in that qualified project area.</text>
    </level>
    <level label="3">
      <text>Subject to paragraph (2) of this subsection, the Comptroller shall:</text>
      <level label="i">
        <text>pay money in the Fund in annual installments to the Mayor and City Council of Baltimore City; and</text>
      </level>
      <level label="ii">
        <text>ensure that the money in the Fund is distributed in the manner that best accomplishes the purpose of the Fund under this title.</text>
      </level>
    </level>
  </level>
</section>
