Reference No. CR-013-2014    Draft No.
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 5/6/2014
Introduced Date 3/11/2014 Public Hearing Date
Effective date:    
Title: A RESOLUTION CONCERNING DECLARING THE INTENT OF PRINCE GEORGE’S COUNTY, MARYLAND TO USE LOCAL IMPACT GRANTS DESIGNATED BY THE STATE OF MARYLAND TO ADDRESS INFRASTRUCTURE NEEDS RELATED TO MARYLAND ROUTE 210 TO LEVERAGE PUBLIC OR PRIVATE FINANCING MECHANISMS for the purpose of expressing the intent of Prince George’s County to use a certain portion of the Local Impact Grants from gaming funds to be allocated for infrastructure on Maryland Route 210 as leverage to support public or private financing mechanisms to finance portions of the needed improvement.
Proposers/Sponsors: Obie Patterson, Derrick Leon Davis, Mel Franklin, Mary A. Lehman, Karen R. Toles, Andrea C. Harrison, Ingrid M. Turner, Will Campos
Attachments: 1. R2014013.pdf, 2. CR-013-2014 AIS, 3. CR-013-2014 Report
Contact: Colette R. Gresham, Legislative Officer
Title
A RESOLUTION CONCERNING DECLARING THE INTENT OF PRINCE GEORGE'S COUNTY, MARYLAND TO USE LOCAL IMPACT GRANTS DESIGNATED BY THE STATE OF MARYLAND TO ADDRESS INFRASTRUCTURE NEEDS RELATED TO MARYLAND ROUTE 210 TO LEVERAGE PUBLIC OR PRIVATE FINANCING MECHANISMS for the purpose of expressing the intent of Prince George's County to use a certain portion of the Local Impact Grants from gaming funds to be allocated for infrastructure on Maryland Route 210 as leverage to support public or private financing mechanisms to finance portions of the needed improvement.
 
 
Background
Pursuant to the Annotated Code of Maryland, State Government Article, Sec. 9-1A-31(4)(i), in Prince George's County, forty percent (40%) of local impact grants shall be used to address infrastructure needs related to Maryland Route 210.  The amount of the local impact grants shall not exceed $15 Million in a fiscal year and the County may be reimbursed by the State for any money used to address infrastructure improvements.  The proposed legislation declares the intent to use a certain portion of the local impact grants from gaming funds to be allocated for infrastructure on Maryland 210 as leverage to support issuance and debt service on General Obligation Bonds to finance portions of the needed improvement.



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