Sec. 20-74. Purpose of Fund.
Montgomery County, Md., Code § 20-74 (2026)
Sec. 20-74. Purpose of Fund.LinkCopy Citation
(a)
The purpose of the Fund is to aid the economic development of the County by assisting private employers who are located or plan to locate or substantially expand operations in the County.
(b)
Assistance to a private employer from this Fund may take the form of:
(1)
loans or grants of public funds as otherwise authorized by law;
(2)
transfers of real or personal property as otherwise authorized by law;
(3)
provision of services, when otherwise authorized, by a County agency;
(4)
plans, studies, or other technical assistance; or
(5)
an equity investment as authorized by Section 20-75A.
(c)
As used in this Article, "private employer" means any for-profit or nonprofit corporation or firm that is not owned, primarily funded, or controlled by a government agency. "Private employer" includes a lessor or supplier of real or personal property or services to a government agency.