Reference No. CB-001-2024    Draft No.
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 11/12/2024
Introduced Date 10/15/2024 Public Hearing Date 11/12/2024 @ 10:30 AM
Effective date:    
Title: AN ACT CONCERNING MINORITY BUSINESS START UP FUNDS for the purpose of adding businesses that are located within the beltway to the Prince George's County Business Expansion and Start-Up Grant Program; adding businesses that are located within the beltway to the Prince George's County Business Expansion and Start-Up Loan program; creating a set aside of twenty-percent (20%) for qualifying businesses within the beltway; defining a County goal of servicing at least fifty-percent (50%) of qualifying businesses that are located within the beltway (the area in the County between the border with the District of Columbia and the Capital Beltway) or within one-quarter mile of a transit station, or within one of the primary or secondary growth sectors outlined in the Approved Economic Development Strategic Action Plan for Prince George’s County within the next five (5) years, and other related provisions.
Proposers/Sponsors: Krystal Oriadha, Wala Blegay, Jolene Ivey, Eric C. Olson, Sydney J. Harrison, Thomas E. Dernoga, Calvin S. Hawkins, Edward P. Burroughs, Ingrid S. Watson, Wanika Fisher
Code sections: 10-336 -
Attachments: 1. B2024001, 2. CB-001-2024 Summary, 3. CB-001-2024 Report, 4. CB-001-2024 PAFI, 5. CB-001-2024 OOL Comment
Contact: Amanda Denison, Chief Legislative Attorney

Title

AN ACT CONCERNING MINORITY BUSINESS START UP FUNDS for the purpose of adding businesses that are located within the beltway to the Prince George's County Business Expansion and Start-Up Grant Program; adding businesses that are located within the beltway to the Prince George's County Business Expansion and Start-Up Loan program; creating a set aside of twenty-percent (20%) for qualifying businesses within the beltway; defining a County goal of servicing at least fifty-percent (50%) of qualifying businesses that are located within the beltway (the area in the County between the border with the District of Columbia and the Capital Beltway) or within one-quarter mile of a transit station, or within one of the primary or secondary growth sectors outlined in the Approved Economic Development Strategic Action Plan for Prince George’s County within the next five (5) years, and other related provisions.

 

Background

There is a need in the County to provide financial assistance to African American Business Enterprises through loans and start up grants.  This bill proposes to add African American Business Enterprises to the Prince George’s County Business Expansion and Start-Up Grant Program as well as the Start-Up Loan Program with a focus on business in the entertainment sector.



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