Reference No. CR-038-2007    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 7/2/2007
Introduced Date 6/5/2007 Public Hearing Date
Effective date: 7/2/2007    
Title: A Resolution endorsing a loan not to exceed $200,000 to Capital Lighting from MEDAF and authorizing a loan by the County to Capital Lighting not to exceed $20,000 for eligible Project costs associated with leasing or purchasing a facility in the County and capital expenditures.
Proposers/Sponsors: Ingrid M. Turner, Samuel H. Dean, County Executive
Code sections: None - None
Attachments: 1. ACTION SUMMARY T2007038, 2. R2007038.pdf
Contact: David Leibowitz Office of Law
Title A Resolution endorsing a loan not to exceed $200,000 to Capital Lighting from MEDAF and authorizing a loan by the County to Capital Lighting not to exceed $20,000 for eligible Project costs associated with leasing or purchasing a facility in the County and capital expenditures. Background This resolution will endorse a loan to Capital Lighting & Supply, Inc. (“Capital Lighting”) not to exceed $200,000 from the Maryland Economic Development Assistance Fund and authorize a County loan not to exceed $20,000 from the County Incentive Leverage Fund, managed by the Prince George’s County Economic Development Corporation. It is expected that the proceeds of these loans will be used to reimburse Capital Lighting for a portion of the costs of acquiring a leasehold, leasehold improvements and equipment, and relocating its corporate headquarters to Forestville, Maryland from Alexandria and Newington, Virginia.



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