Title
A RESOLUTION CONCERNING LOCAL IMPACT GRANT FUNDS MULTIYEAR PLAN for the purpose of transmitting the Local Impact Grant Funds Multiyear Plan to the County Council for review and approval.
Background
This legislation transmits the Local Impact Fund Multiyear Plan for review and approval as established by CB-88-2015. The spending plan details the planned use of net video lottery terminal taxes from FY 2019 - FY 2021. The FY 2019 spending plan allots $4,017,400 of funding for various purposes including funding for the Board of Education ($1,943,900), officers at the District 7 police station ($345,700), fire fighters at stations in the impact area ($190,100), the Economic Development Corporation’s Workforce Development and Training Program ($337,700), scholarships for high school students attending Friendly, Oxon Hill, Potomac and Crossland high schools ($150,000), the County’s Youth Employment Program ($300,000) and grants to community organizations ($750,000). The FY 2019 portion of the plan has been included in the FY 2019 Approved Budget Ordinance (CB-23-2018).
The plan also allocates funding totaling $4,231,100 in FY 2020 and $4,448,200 in FY 2021. The spending plan is subject to change based upon the County’s budget process and adjustments to out-year revenue projections.