Bill No.
49-16
Concerning: Economic Development ­
Workforce
Development
Microlending Program
Revised:
03/0612017
Draft No. =..2_ __
Introduced:
December 13. 2016
Enacted:
April 18. 2017
Executive:
April 24. 2017
Effective:
July 24,2017
Sunset Date:
---!...!N-,=,on':'.!e~~::--_::-:-:-=-_
Ch.~.
Laws of Mont. Co.
2017
COUNTY COUNCIL
FOR MONTGOMERY COUNTY, MARYLAND
Lead Sponsors: Council President Berliner and Councilmembers Navarro and Hucker
Co-Sponsors: Councilmembers Floreen, Rice, EIrich, Katz and Council Vice-President Riemer
AN
ACT to:
(1)
provide that the County's [[Workforce Development]] Economic Development
Corporation [[must]]
~
administer a microlending program to provide fmancial and
technical assistance to County entrepreneurs;
establish certain criteria for the operation ofthe microlending program;
require the Corporation's annual report to include certain information on the
microlending program; and
generally amend County law related to workforce development.
(2)
(3)
(4)
By amending
Montgomery County Code
Chapter 30B, Economic Development
Article [[II, Workforce Development]]
It
Economic Development
Sections [[30B-8, 30B-12 and 30B-14]] 30B-5 and3.DB.:1
Boldface
Underlining
[Single boldface brackets]
Double underlining
[[Double boldface brackets]]
* * *
Heading or defined term.
Added to existing law by original bill.
Deletedfrom existing law by original bill.
Added by amendment.
Deletedfrom existing law or the bill by amendment.
Existing law unaffected by bill.
The County Council for Montgomery County, Maryland approves the following Act:
 PDF to HTML - Convert PDF files to HTML files
BILL
No.
49-16
1
Sec.
I.
Sections [[30B-8, 30B-12 and 30B-14]] 3QB-5 and 3OB-7 are
amended as follows:
2
3
ARTICLE I. ECONOMIC DEVELOPMENT CORPORATION.
4
*
(a)
*
*
5
6
7
Sec. 30B-5. Economic development program.
The Board of Directors must recommend economIC development
programs and associated performance measures to the Executive and
Council each year to advance the policy objectives and perform the
activities listed in Section 30B-I, including revisions to the County's
strategic plan for economic development established by Section 20-76(a).
8
9
10
11
12
13
14
(b) In its economic development programs, the Corporation should
collaborate with the Montgomery County Workforce Development
Board to advance the County's economic development strategic plan
adopted under Section 20-76.
(c) The Corporation's economic development programs may include a plan
for sponsorship of private investment, marketing, and advocacy
initiatives.
(d) The Corporation may administer. as part. of a micrnentemrise
development strategy.
a
culturally proficient microlending program
underwhich:
15
16
17
18
19
20
21
22
23
ill
tll
loans must not exceed $15.000:
loans must only be issuedYLMontgomery County residents:
CA)
who have resided in Montgomery County foratleast 180
days before the loan application is made:
24
25
26
27
Q1)
whose business is headquartered in Montgomery OLun1);.;.
and
(C1
lack access to traditionalmeans of capital financing;
- 2­
 PDF to HTML - Convert PDF files to HTML files
BILL
No. 49-16
28
ill
ill
ill
loan recipients must participate in educational and technical
assistance provided by the program:
non-County funds may be used as a source for capital and program
administration: and
materials and assistance . are provided
reflective of the County's population.
III
29
30
31
32
33
34
mUltiple. languages
The Board and staff must meet with the Executive and the Council at least
annually regarding the Corporation's activities and finances.
35
36
37
*
30B-7. Report.
*
*
38
The Board of Directors must report annually on the activities and finances of
the Corporation and provide an audited financial statement of the Corporation to the
Executive and Council by November 1 of each year. The report must also
include~
39
40
41
42
43
44
W
the Corporation's plan to solicit and receive additional public and private
funding for its
operations~
.au
information on the micro lending program including:
ill
al
ill
ill
ill
the number of microlQans issued during the prior fiscal year by
dollar value of the loan:
a description ofthe how each loan was used;
loan repayments received:
the rate of repayment: and
non-County funds leveraged to support the program.
45
46
47
48
49
50
ARTICLE II. WORKFORCE DEVELOPMENT.
30B-S.
Policy objectives.
51
52
53
54
(a)
The success of Montgomery County's economic development goals is
dependent upon a comprehensive and demand-driven system of
workforce development that:
-3­
 PDF to HTML - Convert PDF files to HTML files
BILL NO.
49-16
55
56
57
58
59
60
61
62
63
(l)
meets the talent attraction, development, and retention needs of
strategic industries;
(2)
(3)
meets the needs ofthe underemployed and unemployed;
[and]
and
develops career pathways that lead to sustainable wage jobs to
support a thriving economy[[; and
ill
provides fmancial and technical assistance through micro loans to
County entrepreneurs to develop or expand small businesses in the
Countyl1·
(b)
To achieve these goals, the County Government may designate a
nonprofit corporation as the County's Workforce Development
Corporation to implement the County's workforce development policies
established by the Workforce Development Board.
64
65
66
67
68
69
70
*
(a)
*
*
Sec. 30B-12. Workforce development program.
The Workforce Development Corporation's Board of Directors must
recommend
workforce
development
programs
and
associated
71
72
73
74
perfonnance measures
to
the Executive, Council, and Workforce
Development Board each year to advance the policy objectives listed in
Section 30B-S.
(b)
The Workforce Development Corporation's workforce development
programs may include a plan for sponsorship of private investment,
marketing, and advocacy initiatives.
(c)
[[The Workforce Development Comoration must administer
~
culturally
proficient microlending program under which:
75
76
77
78
79
80
81
ill
ill
loans must not exceed $15,000;
loans must only be issued to Montgomery County residents:
®
who have resided in Montgomery County for at least ISO
days before the loan application is made; and
-4­
82
 PDF to HTML - Convert PDF files to HTML files
BILL
No. 49-16
83
84
85
ill)
whose business is headquartered in Montgomery County;
ill
ill
ill
loan recipients must participate in educational and technical
assistance provided by the program;
non-County funds may be used as
~
source for capital and program
administration; and
materials and assistance are provided
reflective ofthe County's population.
III
86
87
88
89
multiple languages
90
91
92
93
94
95
@]]
The Workforce Development Corporation's Board and staff must meet
with the Executive, the Council, and the Workforce Development Board
at least annually regarding the Workforce Development Corporation's
activities and finances.
*
30B-14. Report.
*
*
96
97
98
99
The Workforce Development Corporation's Board of Directors must report
annually on the activities and finances of the Corporation and provide an audited
financial statement of the Corporation to the Executive, the Council, and the
Workforce Development Board by November 1 of each year. The report must also
include[[~]]
100
101
102
103
104
105
[[w])
the Corporation's plan to solicit and receive additional public and private
funding for its
operations[[~
and
.au
information on the micro lending program including:
ill
ill
ill
ill
ill
the number of microloans issued during the prior fiscal year by
dollar value ofthe loan;
~
106
107
108
109
description ofthe how each loan was used;
loan repayments received;
the rate ofrepayment; and
non-County funds leveraged to support the
progr~]).
-5­
 PDF to HTML - Convert PDF files to HTML files
BILL
No. 49-16
Approved:
Date
~7Date
'
Date
-6­