Prince George's County Council - Reference No. CR-074-2012

• Reference No.: CR-074-2012
• Draft No.: 1
• Type: Resolution
• Status: Adopted
• Meeting Body: County Council
• Meeting Date: 11/7/2012
• Introduced Date: 10/9/2012
• Effective date: 11/7/2012
• Title: A Resolution endorsing a loan not to exceed $200,000 to Nash Finch Company (“Nash Finch”) from the Maryland Economic Development Assistance Authority and Fund (“MEDAAF”) and authorizing a conditional loan by the County to Nash Finch not to exceed $200,000 for eligible project costs associated with leasing a facility in the County and capital expenditures
• Proposers/Sponsors: Andrea C. Harrison, Derrick Leon Davis, Mel Franklin, Ingrid M. Turner, County Executive
• Code sections: None - None
• Contact: Joseph R. Hamlin Office of Law

Date	Ver.	Action By	Action	Result
11/21/2012		County Executive	signed
11/7/2012	1	County Council	adopted	Pass
11/7/2012		County Council	effective
10/22/2012	1	Public Safety and Fiscal Management Committee	Favorably recommended
10/9/2012	1	County Council	referred	Pass
10/9/2012		County Council	introduced

Title A Resolution endorsing a loan not to exceed $200,000 to Nash Finch Company (“Nash Finch”) from the Maryland Economic Development Assistance Authority and Fund (“MEDAAF”) and authorizing a conditional loan by the County to Nash Finch not to exceed $200,000 for eligible project costs associated with leasing a facility in the County and capital expenditures Background This resolution will endorse a loan to Nash Finch from MEDAAF not to exceed $200,000 and authorize a County conditional loan not to exceed $200,000 from the County Economic Development Incentive Fund. Nash Finch is a wholesale food distributor. The company is headquartered in Minneapolis, Minnesota and has been in business for 127 years. Nash Finch is expanding its operations to the Mid-Atlantic. After a search for locations and incentives within Prince George’s County and adjacent jurisdictions, the company selected a property located in Landover. It will lease and improve 530,000 square feet, relocate 36 permanent, full-time employees to the project site and expects to increase employment from 36 to 136 permanent, full-time employees by the end of 2016.