Agenda Item 10
February 28, 2012
Public Hearing
MEMORANDUM
February 24,2012
TO:
FROM:
SUBJECT:
County Council
Robert H. Drummer, Senior Legislative Attomeyfi;j
Public Hearing:
Bill 6-12, Economic Development
Small Business Assistance
Bill 6-12, Economic Development - Small Business Assistance, sponsored by Council
Vice President Navarro, Councilmembers Ervin, Floreen, Leventhal, Council President Berliner
and Councilmember Riemer, was introduced on February 7, 2012. A Planning, Housing and
Economic Development Committee worksession is tentatively scheduled for March 19 at 2:00
p.m.
Background
Bill 6-12 would establish a program to assist small businesses located in either an
enterprise zone
l
or an urban renewal area
2
of the County who are adversely impacted by a
County redevelopment project or a redevelopment project located on County property. The Bill
would require the Director of the Department of Economic Development (DED Director) to
create and operate the program. Subject to Council appropriation, the Director may award a
grant or loan from the Economic Development Fund (EDF) to an eligible small business and
provide technical assistance and training to a small business receiving financial assistance under
the program. An award that exceeds $100,000 cumulatively must be approved by the Council.
The Bill would also require the Executive to adopt method 2 regulations to implement
this program. The regulations must:
(1)
require the Director to compile and maintain a list of approved technical training
courses on the appropriate website;
(2) specify the application procedures and eligibility criteria for a grant or loan to a
small business under the Program;
(3) specify conditions that the Director may impose on a small business in order to
receive financial assistance from the Fund under the Program;
(4) define what constitutes an adverse impact on a small business;
(5) define what constitutes financial health of a small business; and
(6) identify outreach methods and marketing strategies to inform local small
businesses of the program.
, An enterprise zone must be designated by the Maryland Department of Business and Economic Development
2
An urban renewal area must be designated by the Council.