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MIDFA/MEDAAF Authority

​​​​​​​​​​​​​​​​​​​​​​​​​​​The Maryland Industrial Development Financing Authority (MIDFA) and the Maryland Economic Development Assistance Authority and Fund (MEDAAF; also known as Advantage Maryland) 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​ (Advantage Maryland)

A flexible and broad-based program, Advantage Maryland 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
  • 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
  • Brian Sweeney; 2013-2018; Executive Director, Maryland MEP
 
 

Ex-Officio Officers

  • Kelly Schulz, 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

Meetings are typically held the fourth Thursday of the month at 10 am unless otherwise directed by the Chairperson. 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 tentative 2019 Meeting Schedule (subject to change or cancellation)

  • June 27
  • July 25
  • August 22
  • September 26
  • October 24
  • November 21
  • December 19

Meetings Archive​