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.
NOTICE OF PUBLIC HEARING
Proposed issue of private activity revenue bonds by the Maryland Industrial Development Financing Authority for the benefit of Associated Catholic Charities, Inc.
The Maryland Industrial Development Financing Authority will hold a public hearing on Monday, May 22, 2023 at 10:00 A.M.
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, 2022-2025
- Bohdan Denysyk Ph.D., 2019-2024, President & CEO, Global USA, Inc.
- James Faison, Attorney, 2023-2027, Faison Law Group
- Richard Ohnmacht, 2022-2026, Chief Commercial Banking Officer, Woodsboro Bank
- Ryan Showalter, Esq., 2022-2024, Co-founder, MDSW Law Offices
Brian Sweeney, 2018-2023, Executive Director, Maryland MEP
- Kevin Anderson, Secretary, Maryland Department of Commerce
Timothy Doyle, Program Manager; Designee for Department of Commerce - Office of Finance Programs
Brooke Lierman, Comptroller; State of Maryland
- Ben Seigel, Comptroller's Designee; 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 2022.
Tentative 2023 Meeting Schedule (subject to change or cancellation)
No meetings 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