Title
A RESOLUTION CONCERNING THE 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
Pursuant to CB-88-2015, this resolution will approve the Local Impact Fund Multiyear Plan for FY 2028-FY 2030. The spending plan details the planned use of video lottery terminal taxes from FY 2028-FY 2030. The FY 2028 spending plan totals $12,174,300 and allots funding for the following organizations and areas: Employ Prince George’s ($1,000,000), Prince George’s Community College Foundation ($6,929,300), Bowie State University ($3,000,000), Local Development Council (LDC)-Community Impact Grants ($400,000), grant to support community 2.5 miles northeast of VLT Facility ($125,000), The Store House ($325,000), Strategic Housing Solutions ($270,000), and Other Public Services ($125,000). The FY 2028 portion of the plan will be included in the FY 2028 Budget.
The plan also has funding totaling $12,174,300 in FY 2029 and $12,174,300 in FY 2030. The spending plan is subject to change based upon the County’s budget process and adjustments to out-year revenue projections.