Reference No. CR-021-2019    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 3/19/2019
Introduced Date 3/12/2019 Public Hearing Date
Effective date: 3/19/2019    
Title: A RESOLUTION CONCERNING ECONOMIC DEVELOPMENT for the purpose of revising the County’s policy for the use of Tax Increment Financing and other financial tools and incentives to fund economic and community development projects and initiatives in Prince George’s County.
Proposers/Sponsors: Todd M. Turner, Derrick Leon Davis, Jolene Ivey, Sydney J. Harrison, Monique Anderson-Walker, Rodney C. Streeter, Deni L. Taveras, Dannielle M. Glaros, Calvin S. Hawkins
Attachments: 1. R2019021, 2. CR-21-2019 AIS, 3. CR-21-2019 Report, 4. CR-21-2019 Fiscal Impact
Contact: Colette Gresham, Legislative Officer

Title

A RESOLUTION CONCERNING ECONOMIC DEVELOPMENT for the purpose of revising the County’s policy for the use of Tax Increment Financing and other financial tools and incentives to fund economic and community development projects and initiatives in Prince George’s County.

 

Background

The County Council adopted CR-89-2006 which established a policy for the County to use specific criteria in determining the appropriateness and necessity of applying Tax Increment Financing (TIF) and other financial incentives to help fund economic and community development projects and initiatives throughout the County.  The Council revised the criteria for proposed projects and initiatives by adopting CR-98-2010 and CR-38-2011, which added a Class A Apprenticeship Program requirement to any developer or other party receiving TIF assistance at One Million Dollars or more from the County.  This resolution allows for more flexibility on equity ownership to meet criteria for local and minority business enterprise requirements as well as requiring an MBE Plan that includes specific goals for County-based Businesses, County-based Minority Businesses, County-based Small Businesses, and Minority Business Enterprises.



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