July 24, 2017
July 20, 2017
Planning, Housing and E~onomi~ D~velopment C~~ttee
Robert H. Drummer, Semor Leg1slat1ve Attorney
Bill 4-17, Economic Development Fund - Small Business
Assistance Program - Amendments
Alex Espinosa, Director of Finance
Peter McGinnity, Finance
Bill 4-17, Economic Development Fund - Small Business Assistance Program -
Amendments, sponsored by Lead Sponsor Councilmember Eirich and Co-Sponsors,
Councilmembers Floreen, Katz, Rice, and Council President Berliner was introduced on March 7.
A public hearing was held on April 4.
Bill 4-17 would expand the eligibility for grants or loans under the small business
Bill 6-12, enacted on April 17, 2012 and signed into law on April 26, 2012, established a
program to assist small businesses located in either an enterprise zone
or an urban renewal area
of the County who are adversely impacted by a County redevelopment project or a redevelopment
project located on County property. The Bill required the Director of the Department of Economic
Development to create and operate the program. The operation of the program was transferred to
the Director of Finance as part of the law creating the Montgomery County Economic
Development Corporation and eliminating the Department of Economic Development. 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.
The construction of a new office building for the Maryland-National Capital Park and
Planning Commission and several County Departments in Wheaton
was the County project that
An enterprise zone must be designated by the Maryland Department of Business and Economic Development.
An urban renewal area must be designated by the Council.
The 3 current enterprise zones in the County are Long Branch/Takoma Park, Wheaton, and Old Towne