Title:
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A Resolution endorsing a loan not to exceed $80,000 to hhgregg, Inc. (“hhgregg”) from the Maryland Economic Development Assistance Fund (“MEDAF”) and authorizing a loan by the County to hhgregg not to exceed $50,000 for eligible project costs associated with leasing a facility in the County and capital expenditures
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Title
A Resolution endorsing a loan not to exceed $80,000 to hhgregg, Inc. (“hhgregg”) from the Maryland Economic Development Assistance Fund (“MEDAF”) and authorizing a loan by the County to hhgregg not to exceed $50,000 for eligible project costs associated with leasing a facility in the County and capital expenditures
Background
This resolution will endorse a loan to hhgregg not to exceed $80,000 from MEDAF and authorize a County loan not to exceed $50,000 from the County Incentive Leverage Fund, managed by the Prince George’s County Economic Development Corporation. hhgregg, a regional retailer of consumer electronics and appliances, is establishing operations in the mid-Atlantic region. After a competitive search for locations and incentives in several jurisdictions, the company selected an existing facility in Brandywine for its central distribution center.