PHED Item 2
September 10, 2012
Planning, Housing and Economic Development Committee
Drummer, Senior Legislative Attorney
Jacob Sesker, Senior Legislative Analyst
Bill 14-12, Economic Development Fund - Amendments
DED Director Steve Silverman is expected to attend.
A representative from the Montgomery Business Development
Corporation (MBDC) is also expected to attend.
Bill 14-12, Economic Development Fund - Amendments, sponsored by Council
President Berliner, and Councilmembers Riemer, Ervin, EIrich, Leventhal, Navarro, and Rice
was introduced on March 20, 2012. A public hearing was held on April 10.
Bill 14-12 would require the Executive to propose and update an economic development
strategic plan, subject to approval by the Council. The success or progress of the strategic plan
must be measurable and include measures to address:
private sector compensation and benefits;
target geographic areas;
workforce education and training;
growth in tax base;
economic opportunity for residents;
encouragement of entrepreneurs and small business;
land use; and
other actions necessary to promote economic development in the County.
The Bill would also amend the Economic Development Fund (EDF) law by establishing
criteria for offers of assistance from the EDF, modify the time and content of the notice the
Executive must give to the Council before making a tentative offer of more than $100,000, and
require Council approval ofa tentative offer of more than $500,000.
There were 2 speakers at the April 10 public hearing. Virginia Sheard, speaking on
behalf of the Montgomery County Civic Federation (©12) supported the Bill as a measure that
would increase transparency and accountability of the County's economic development