Sec. 10-287. Financial assistance - application and approval
Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.
Prince George's County, Md., Code § 10-287 (2026)
Sec. 10-287. Financial assistance - application and approvalLinkCopy Citation
(a)
Applicants to use form. An applicant for financial assistance shall apply on a form required by the Chief Administrative Officer, or his designee.
(b)
Form. The financial assistance application form shall require an applicant to supply information necessary to evaluate the requested financial assistance including:
(1)
need;
(2)
financial ability of the applicant;
(3)
sources of repayment;
(4)
proposed project costs and expenditures for which assistance is sought;
(5)
fair value of completed projects;
(6)
normal or useful life of equipment or buildings;
(7)
security for the transaction;
(8)
contribution to the economy of the County;
(9)
legal residency; and
(10)
any other information that may be appropriate or useful in evaluating the application.
(c)
Review and approval by the Chief Administrative Officer. The Chief Administrative Officer or his designee:
(1)
shall review financial assistance applications for need and financial ability of the applicant;
(2)
shall receive guidance from the FAC in making the determination of whether the application contains sound financial projections, proper collateralization/securitization, and proper protections of the County's financial interests; and
(3)
may approve a financial assistance application up to the amount requested, if sufficient monies exist in the Fund.
(d)
Approval criteria. The criteria for approval of financial assistance from the Fund shall include, but not be limited to, the following:
(1)
the expected benefit to, or impact on, the County's commercial tax base;
(2)
the estimated number of County residents expected to be hired as a result of the financial assistance from the Fund, and the percentage of the overall hiring consisting of County residents; and
(3)
the ability of the prospective applicant to leverage financial assistance with other funds.
(e)
Notice of intent to the Council.
(1)
The Chief Administrative Officer or his designee shall notify the County Council in writing of the intent to award financial assistance from the Fund by filing the terms of the proposed agreement with the Clerk of the County Council.
(2)
(A)
Except for grants or conditional loans in an amount over $250,000, within seven (7) calendar days of receipt of the agreement by the Clerk of the County Council, the County Council may provide written comments to the Chief Administrative Officer, or his designee.
(B)
Not less than seven (7) calendar days after submission of the notice of intent under this Subsection, the Chief Administrative Officer, or his designee, may grant the award and shall provide written notice to the Clerk of the County Council of the final terms of the agreement, or of a decision not to proceed with the award.
(3)
(A)
For grants or conditional loans in an amount over $250,000, within seven (7) calendar days of receipt of the agreement by the Clerk of the County Council, the County Council may provide written comments or notice of objection to the award to the Chief Administrative Officer, or his designee.
(B)
If the Chief Administrative Officer, or his designee, does not receive written notice expressing the County Council's objection to a grant or conditional loan in an amount over $250,000 within seven (7) calendar days after receipt by the Clerk of the County Council of the notice of intent provided under this Subsection, the Chief Administrative Officer, or his designee:
(i)
may grant the award; and
(ii)
shall provide written notice to the Clerk of the County Council of the final terms of the agreement or of a decision not to proceed with the award.
(C)
If the Chief Administrative Officer, or his designee receives written notice expressing the County Council's objection to a grant or conditional loan in an amount over $250,000 within seven (7) calendar days after the receipt by the Clerk of the County Council of the notice of intent provided under this Subsection, the provisions of Subparagraph (D) of this Subsection apply.
(D)
(i)
Within seven (7) calendar days of any submission of written notice expressing objection to the Chief Administrative Officer's, or his designee's, intent to award a grant or conditional loan in an amount over $250,000, the County Council in writing shall approve or disapprove of the Chief Administrative Officer's, or his designee's, intent to provide financial assistance from the Fund.
(ii)
If within seven (7) calendar days of any submission of written notice expressing objection to the Chief Administrative officer's, or his designee's, intent to award a grant or conditional loan in an amount over $250,000 the County Council disapproves the award, the Chief Administrative Officer shall not grant the award.
(iii)
If after seven (7) calendar days of any submission of written notice expressing objection to Chief Administrative Officer's, or his designee's, intent to award a grant or conditional loan in an amount over $250,000, the County Council does not approve or disapprove of the award, the Chief Administrative Officer, or his designee:
(aa)
may grant the award; and
(bb)
shall provide written notice to the Clerk of the County Council of the final terms of the agreement or of a decision not to proceed with the award.
(4)
If the Chief Administrative Officer, or his designee, grants an award of financial assistance from the Fund pursuant to Sections 10-288(a)(6) ("other uses") or 10-288(b)(2) (loans in excess of 10 years) of this Division, the Chief Administrative Officer, or his designee, shall provide written notice to the County Council consistent with the provisions of Paragraph (3) of this Subsection.