Section 4-1001 - Definitions

(a) In this subtitle the following words have the meanings indicated. (b) 'Fund' means the Neighborhood Housing Services Fund. (c) 'Neighborhood corporation' means a neighborhood housing services corporation established in connection with the Neighborhood Reinvestment Corporation. (d) (1) 'Operating budget' means the money necessary to operate a neighborhood corporation, including money to pay: (i) administrative, technical, legal, or other expenses; and (ii) expenses incurred by an umbrella corporation in operating programs. (2) 'Operating budget' does not include money allocated to revolving or other loan funds. (e) 'Program' means a program that a neighborhood corporation establishes and supervises to achieve its goals and to provide services within a specific neighborhood. (f) 'Umbrella corporation' means a neighborhood corporation that establishes and supervises at least two programs.