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MIDFA/MEDAAF Authority

​​​​​​​​​​​​​​​​​​​​​​​​​​​The Maryland Industrial Development Financing Authority (MIDFA) and the Maryland Economic Development Assistance Authority and Fund (MEDAAF) are both served by the same Authority members. For MIDFA, the Authority reviews and approves financing transactions being issued as private activity bonds and loan guarantees; for MEDAAF, the Authority reviews and approves loans to support economic development initiatives​.

Maryland Industrial Development Financing Authority

MIDFA encourages private sector investments with insurance, and the issuance of tax-exempt and taxable revenue bonds. Insurance reduces the lender's credit risk. All projects must be in a Priority Funding Area. While the transaction size is generally not limited, the credit enhancement is subject to the applicable program limits.

MIDFA can be used for land acquisition, building acquisition, construction costs, machinery and equipment, furniture and fixtures, leasehold improvements, certain eligible "soft costs," energy-related projects and working capital.

Maryland Economic Development Assistance Authority and Fund​

A flexible and broad-based program, MEDAAF funds grants, loans and investments to support economic development initiatives. Uses include business attraction and retention, infrastructure support, brownfield redevelopment, arts and entertainment districts, daycare, revolving loan funds and local strategic planning. Projects must be within Priority Funding Areas and eligible industry sectors. Awards are made on a competitive basis.​

BOARD MEMBERS

  • Deborah A. Morgan, Chairperson; 2016-2021; Executive VP, SunTrust Bank
  • Louna Primm, Co-Chairperson; 2015-2020; Chief Lending Officer, New Windsor State Bank
  • Richard Deemer; 2016-2021Associate Director, Cornerstone Real Estate Advisors
  • Bohdan Denysyk Ph.D.; 2014-2019; President & CEO, Global USA, Inc.
  • Bernard Jennings; 2012-2017; Managing Partner, CapStone Consulting Group, LLC
  • Carla Nealy; 2014-2019; SVP Chief Credit Officer, The Harbor Bank of Maryland
  • Brian Sweeney; 2013-2018; Executive Director, Maryland MEP
 
 

Ex-Officio Officers

  • R. Michael Gill, Secretary; Department of Commerce
  • Timothy Doyle, Program Manager; Designee for Department of Commerce - Office of Finance Programs
  • Peter Franchot, Comptroller; State of Maryland
  • Jerome ​Klasmeier, Deputy Comptrol​ler; Designee for Comptroller of Maryland - State of Maryland​


MEETINGS

The next scheduled meeting will be on October 26, 2017. There will be no meeting on September 28. Meetings are typically held the fourth Thursday of the month. To confirm date, time and agenda, please contact Dana McCann, Office of Financ​e Programs, at 410-767-6367 or dana.mccann@maryland.gov.​​

Upcoming Meetings

  • October 26, 2017 ​​


Meeting Minutes​

CONTACTS

For more information about MIDFA and MEDAAF contact:

Timothy Doyle, Program Manager 
Maryland Department of Commerce, Office of Finance Programs
410-767-2369
877-821-0099 ​