Title:
|
A Resolution revising CR-89-2006 and 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.
|
Title
A Resolution revising CR-89-2006 and 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 TIF and other financial incentives to help fund economic and community development projects and initiatives throughout the County. This resolution revises the criteria for proposed projects and initiatives.
10/19/2010 - CR-98-2010 DR-2 was amended on the floor as follows:
On page 2, line 28, after "for", delete "MBE equity participation" and insert the following "of the value of the TIF issued to the developer through either (i) LMBE equity ownership in the entity receiving TIF funds or 9ii) LMBE ownership or participation equal to five (5%) of the TIF note issued"
CR-98-2010 (DR-3) was adopted.