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.
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; 2016-2021; Associate 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
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 Comptroller; Designee for Comptroller of Maryland - State of Maryland
The next scheduled meeting will be on November 16, 2017 at 10 am. Meetings are typically held the fourth Thursday of the month. To confirm date, time and agenda, please contact Dana McCann, Office of Finance Programs, at 410-767-6367 or email@example.com.
For more information about MIDFA and MEDAAF contact:
Maryland Department of Commerce, Office of Finance Programs