§ 18-301. Commercial or industrial development

Latest version.

   (a) In general. -- Subject to subsection (b) of this section, a political subdivision may use federal or State financial assistance for commercial or industrial redevelopment projects to make grants or loans, or to guarantee loans, to private entities.

(b) Limitations. -- The authority granted under this section:

   (1) may be used only for commercial or industrial redevelopment projects; and

   (2) may not be used for a residential or housing project.

HISTORY: An. Code 1957, art. 23A, § 2(b) (intro. lang.), (b)(31), art. 25, § 3(kk), art. 25A, § 5 (intro. lang.), (DD); 2013, ch. 119, § 2.

                    
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