Proceeds of the Fund may be used only for the purpose of providing financial assistance to qualified distressed counties and MEDCO. Proceeds of financial assistance may be used only for: Acquisition, improvements, and rehabilitation of land for industrial sites and parks; and Development of: Water and sewer lines, Shell buildings, Infrastructure serving existing retail and office oriented centers occupying at least 400,000 square feet on a limited basis of not more than one per jurisdiction, and Other needed infrastructure projects. Financial assistance from the Fund may be in the form of a loan, an investment, or a loan convertible in whole or in part to a grant upon the satisfaction of specified conditions, all upon terms specified by the Department. Financial assistance from the Fund may be used only for a project that is located in a priority funding area or meets an exception to the priority funding area requirements set forth in State Finance and Procurement Article, Title 5, Subtitle 7B, Annotated Code of Maryland.