Legislation Details

Reference No. CR-009-2010    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 3/16/2010
Introduced Date 2/16/2010 Public Hearing Date
Effective date: 3/16/2010    
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
Proposers/Sponsors: Marilynn Bland, County Executive
Code sections: None - None
Attachments: 1. ACTION SUMMARY T2010009, 2. INCLUSION FILE I-CR-9-2010 Exhibit, 3. R2010009.pdf
Contact: Joseph R. Hamlin Office of Law
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.