Section 10-507 - Recovery of State grant funds. - Maryland Statutes

§ 10-507. Recovery of State grant funds.
 

(a)  Conditions.- The State may recover State grant funds if, within 15 years after completion of a project: 

(1) the project's property ceases to be operated as a senior citizen activities center; or 

(2) an interest in property for which funds have been paid under the Program is assigned, transferred, or conveyed: 

(i) without approval by the Board of Public Works; or 

(ii) for use other than as a senior citizen activities center. 

(b)  Amount.- The State is entitled to recover the sum of: 

(1) an amount that equals the value of the project property at the time of the recovery multiplied by a fraction: 

(i) the numerator of which is the amount of the State funds for the project; and 

(ii) the denominator of which is the total cost of all eligible work for the project; and 

(2) costs, including reasonable attorneys' fees that the State incurs in recovery proceedings. 
 

[An. Code 1957, art. 70B, § 30(a)-(c); 2007, ch. 3, § 2.]