The Authority shall have perpetual existence and may:
(1) Adopt a seal and alter the same at its pleasure;
(2) Acquire, hold and dispose of real and personal property for its
corporate purposes;
(3) (i) Develop, establish, construct, erect, acquire, own, repair, remodel,
add to, extend, improve, equip, operate, and maintain developments and
projects in the State and pay the cost of developments and projects,
including parking and other ancillary facilities appurtenant thereto,
including improvements of portions of any waterways thereat from the
proceeds of bonds of the Authority or funds otherwise available or to
become available under the provisions of this subtitle, or from such
proceeds and any grant from the United States of America or the State
or any agency or instrumentality of either. The Authority shall not be
subject to the provisions of Article 78A of the Annotated Code of
Maryland (1957 Edition) as amended, the provisions of Title 2,
Subtitles 4 and 5, Title 4, Subtitles 7 and 8, §§ 8-127, 8-128, and
8-129, Part V of Title 8, Subtitle 1, and Title 10 and Division II of
the State Finance and Procurement Article, and shall have the right to
construct developments and projects without obtaining the consent of
any department, division, commission, board, bureau or agency of the
State and without any other proceedings or the happening of any other
conditions or things than those proceedings, conditions, or things
which are specifically required by this subtitle; except that: 1. the
Authority shall, where required by this subtitle, obtain the approval
of the political subdivision where a development is located, obtain all
applicable licenses and permits, and follow the required procedures; 2.
a development or project shall be subject to all applicable laws and
regulations of the Secretary of Health and Mental Hygiene and shall be
subject to all zoning and subdivision regulations of the political
subdivision in which the development or project is located; 3.
construction of a development may not begin unless a comprehensive
study establishes that the construction and operation of the
development would be both economically and environmentally sound; 4.
except for the Maryland Food Center, construction of a development
undertaken by the Authority may not begin unless: a. an analysis of the
economic benefits of the proposed development is submitted, subject to
§ 2-1246 of the State Government Article, to the Legislative Policy
Committee and the Department of Legislative Services; and b. the
Legislative Policy Committee has an opportunity to comment within 45
days of receipt of the proposal; 5. all plans and any issue of bonds
for the financing of a development or project of the Authority shall
first be submitted to and be approved prior to the sale thereof by
resolution of the Board of Public Works; and 6. all other plans,
contracts, and leases, acquiring, transferring, or conveying real
property shall have the approval of the Board of Public Works;
(ii) In carrying out its duties and responsibilities, the Authority shall
comply with Title 14, Subtitle 3 of the State Finance and Procurement
Article and the minimum minority business participation requirements
enumerated therein. In addition, the Authority shall take affirmative
steps to include minority businesses in its markets to at least the
same extent as required by Title 14, Subtitle 3 of the State Finance
and Procurement Article;
(4) Make contracts and leases and execute all instruments necessary or
convenient, including contracts or leases with respect to the
construction, operation, maintenance, management, and use of the
facilities of developments and projects, concessions, stalls, auction
house, docking facilities, or other facilities, on such terms and for
such of its corporate purposes as the Authority deems advisable; all
contracts for the construction of the facilities of a development or
project shall be made only after the solicitation of sealed bids except
where the facilities are to be constructed on land which has been
either leased or sold by the Authority to a private entity or entities;
(5) Acquire in its own name, by purchase, on such terms and conditions and
in such manner as it deems proper, or by condemnation and in accordance
with and subject to the provisions of any and all existing laws
applicable to the condemnation of property for public use, real
property or rights or easements therein or thereover or franchises or
licenses convenient for its corporate purposes; and use the property so
long as its corporate existence continues; and lease or make contracts
with respect to the use of the property or dispose thereof in any
manner it deems to the best advantage of a development or project; but
the Authority is under no obligation to accept and pay for any
property, rights, or easements acquired under this subtitle except from
the funds provided under the authority of this subtitle. In any
proceedings to condemn, such orders may be made by the court having
jurisdiction of the suit, action or proceedings as may be just to the
Authority and to the owners of the property to be condemned; and if the
Authority deems it expedient to establish or construct a development or
project on any lands, streets, alleys, or public places, the title to
which shall then be in any political subdivision in the State, the
subdivision, through its proper officials, may either lease to the
Authority under such terms as may be mutually acceptable or may convey
title to such lands, streets, alleys, or public places to the Authority
upon payment to the political subdivision of the reasonable value of
the lands, the value to be determined by the Authority and by the
proper officials of the political subdivision involved; the payment to
be in cash or in bonds of the Authority at par; provided that the
political subdivision upon the approval of the board of estimates, in
the case of the City of Baltimore, or of the county commissioners or
other officials proper under the circumstances, may lease or convey
without consideration to the Authority any real or personal property
owned by it and suitable for use by the Authority for the purposes set
out in this subtitle; and provided further that all public utility
facilities, whether publicly or privately owned or operated, occupying
such lands, streets, alleys, or public places, first have been removed
or relocated at the Authority's expense; and provided further that the
powers herein contained and conferred in this paragraph shall not be
exercised nor applicable to the acquisition of any site for the
establishment or construction of a development, nor shall a development
be established or constructed unless the site therefor shall have been
first approved, in the case of the City of Baltimore, by the board of
estimates, or in the case of any other political subdivision, the
county commissioners or county executive as the case may be;
(6) Sell or lease, or otherwise transfer or convey in any manner deemed
appropriate by the Authority, any land or property now or hereafter
owned by it to carry out the purposes of this subtitle;
(7) Use the proceeds of bonds of the Authority, or funds otherwise
available or to become available under the provisions of this subtitle,
or such proceeds and any other grant from the United States of America
or the State, or any agency or instrumentality of either, for the
purposes contemplated by the provisions of this subtitle; or finance
any private, public, or quasi-public corporation, partnership,
association, person, or other legal entity in carrying out such
purposes, either on land or property that is owned or otherwise held or
controlled by the Authority or State, or on, under, or in any land or
property owned or otherwise held or controlled by any private, public
or quasi-public corporation, partnership, association, person, or
other legal entity and charge to and equitably apportion between such
private, public or quasi-public corporation, partnership, association,
person, or other legal entity all or a portion of the Authority's
administrative costs and expenses incurred in its exercise of the
powers and duties conferred by this subtitle. However, if the Authority
finances any private, public or quasi-public corporation, partnership,
association, person or other legal entity to carry out the purposes of
this subtitle as hereinabove provided, no part of the proceeds shall be
expended for actually constructing, erecting, altering, expanding,
improving, or equipping any building, structure, or facility for the
purposes contemplated by this subtitle (as distinguished from funds
which are necessary to be expended in connection with the acquisition
of land or property or the preparation of plans or the employment of
assistants, aides, or employees of the Authority, or other matters or
things which are usually and generally preliminary to the commencement
of actual construction work) until the Authority, with the approval of
the Board of Public Works of the State, has entered into a binding
contract with the private, public, or quasi-public corporation,
partnership, association, person or other legal entity secured to the
satisfaction of the Board of Public Works under the terms of which the
private, public, or quasi-public corporation, partnership,
association, person, or other legal entity is obligated to pay to the
Authority or its designee a sum to provide for the payment of (i) the
interest upon the bonds sold pursuant to the provisions of this
subtitle as the interest falls due, (ii) the principal of the bonds as
it falls due, (iii) the necessary fiscal agency charges for paying
principal and interest and any charges or fees fixed by the Authority
for its administrative costs and expenses, and (iv) any premium upon
bonds retired by call or purchased as provided in this subtitle. In
addition, the legal entity shall pay to the State of Maryland, or any
of its political subdivisions, the amount of State and local property
taxes as the same accrue from the time of the transfer of the property
to such legal entity;
(8) Assist wholesale food dealers and tenants who wish to locate or
relocate their operations in a development or project. In furtherance
of such power, the Authority may acquire, by negotiation and purchase,
the land, buildings, structures, facilities, equipment, leases, or any
interest therein, and may pay all or a part of reasonable moving
expenses for personal property necessary to be moved in the relocation
or location of those dealers and tenants who, in the best judgment of
the Authority, afford the greatest opportunity of success for a project
or development, and which expenses of acquisition, location, or
relocation the Authority, in the responsible exercise of its
discretion, believes it has the most favorable opportunity of
regaining;
(9) Appoint and dismiss officers, agents and employees, including, but not
limited to, engineering, architectural, fiscal, and construction
experts and attorneys, and fix their compensation;
(10) Borrow money for any of its corporate purposes including the power to
mortgage or further encumber its property as security for such loan and
issue negotiable bonds as hereinafter provided in this subtitle; all
money and funds of the Authority may be invested; all interest earned
and all other income from any investments shall be credited to the
Authority;
(11) Receive appropriate gifts, contributions of money, supplies, goods, and
services, or loans thereof, and may accept appropriations, allotments,
and loans of funds from the State of Maryland, the United States of
America, any federal corporation or agency and any municipal
corporation or political subdivision of the State of Maryland;
(12) Exercise any power usually possessed by private corporations in
performing similar functions, which is not in conflict with the
Constitution and the laws of this State;
(13) Acquire, construct, maintain, equip, and operate any wharves, docks,
piers, quays, and other structures, and any facilities necessary for
commerce, including the dredging of approaches;
(14) Adopt reasonable rules and regulations concerning the use of streets,
alleys, driveways, docking slips, and establishing parking areas on the
Authority's property and relating to the safety and welfare of persons
using the Authority's property, provided the rules and regulations are
made in accordance with the laws and ordinances governing city, county,
and local jurisdictions where the development is located; and
(15) Do all things necessary and convenient to carry out the powers
expressly granted by this subtitle.
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