Prince George's County Council - Reference No. CR-038-2007

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Details

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

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
7/6/2007		County Executive	signed		Action details	Meeting details	Not available
7/2/2007	1	County Council	adopted	Pass	Action details	Meeting details	Not available
7/2/2007		County Council	effective		Action details	Meeting details	Not available
6/18/2007	1	County Council	FAVORABLE	Pass	Action details	Meeting details	Not available
6/5/2007	1	County Council	referred	Pass	Action details	Meeting details	Not available
6/5/2007		County Council	introduced		Action details	Meeting details	Not available

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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