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Maryland Economic Development Assistance Authority and Fund (MEDAAF)

​​​​​​​​​​​​​​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.
 

BENEFITS

Five financing capabilities are offered through the Maryland Economic Development Assistance Authority and Fund (MEDAAF) with assistance being provided to the business community and political jurisdictions.

  • Strategic Economic Development Opportunities
  • Local Economic Development Opportunities
  • Direct Assistance to Local jurisdictions or MEDCO
  • Regional or Local Revolving Loan Fund
  • Special Purpose Programs

ELIGIBILITY

Projects must be within Priority Funding Areas and eligible industry sectors. 

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
  • Carla Nealy; 2014-2019; SVP Chief Credit Officer - The Harbor Bank of Maryland
  • Brian Sweeney; 2013-2018; Executive Director - Maryland MEP

Note: Two current vacancy seats. 

Ex-Officio Officers
  • R. Michael Gill, Secretary; Department of Commerce
  • D. Greg Cole, Senior Director; 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​

MEETINGS

There is NO scheduled meeting for July 28, 2016. The next scheduled meeting is to be held on August 25, 2016.​ Meetings are held the 4th Thursday of ​the month. To confirm date and agenda, please contact Dana McCann​, Office of Finance Programs, at 410-767-6367 or dana.mccann@maryland.gov​.​​​

Meeting Minutes

APPLY

For more information about MEDAAF contact:

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