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.
- Louna Primm, Co-Chairperson; 2015-2020
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
Brian Sweeney; 2013-2018; Executive Director, Maryland MEP
Kelly M. Schulz, Secretary, Maryland 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
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 Finance Programs, at 410-767-6367 or firstname.lastname@example.org.
No Meetings were held for calendar year 2020
Tentative 2021 Meeting Schedule (subject to change or cancellation)
No Meeting of the MIDFA/MEDAAF Authority Board are scheduled at this time. A meeting notice and agenda will be posted when a meeting is scheduled.
For more information about MIDFA and MEDAAF (Advantage Maryland) contact:
Maryland Department of Commerce, Office of Finance Programs