[Adopted by Bill No. 78-3;[1] amended in its entirety by Exec. Order
No. 18-01]
[1]
Editor's Note: This legislation was included
as Secs. 2-204 through 2-206 of the 1978 Code.
There shall be an Office of Community and Economic Development,
which shall be administered by the Director of Community and Economic
Development. The Office shall be in the Executive Branch and subject
to the direction, supervision and control of the County.
The Office of Community and Economic Development is created
for advancing the general economic welfare of the citizens of Harford
County. The Office shall establish programs and activities to improve
Harford County's communities and develop economic opportunities pertaining
to but not limited to commerce, industry, agriculture, forestry, transportation,
travel and tourism in Harford County. In addition, the Office shall
cooperate and offer assistance to existing industries and businesses
in Harford County and promote and encourage new industries to locate
in Harford County and promote and encourage new industries to locate
in Harford County. The Office shall accept and administer federal,
state and local housing funding to address the housing needs of residents
and assist with housing issues. The Office shall strive to provide
opportunities for all County residents to obtain and maintain safe,
decent and affordable housing and to develop viable communities by
creating partnerships and programs that improve quality of life for
our citizens. The Office shall also consider other matters intended
to foster and develop gainful employment of the citizens of Harford
County.
The Office shall:
A.
Investigate and assemble information pertinent to the economic resources
and industrial opportunities of the County.
B.
Prepare long-term goals and objectives annually for economic development
in Harford County.
C.
Disseminate information in the interest of industrial development
by publication, advertising and other means.
D.
Cooperate with any federal, state, local agency, board or commission,
including the Departments of Commerce and Housing and Community Development
of Maryland, in furtherance of its purpose.
E.
Cooperate with any interested private concern, civic organization
or subdivision thereof in furtherance of its purpose.
F.
Function as an ombudsman for local business.
G.
Promote and encourage new industries to locate in Harford County.
H.
Provide for full and complete participation in federally or state
funded housing programs presently in existence, as well as those enacted
from time to time for families of low and moderate income, including
those programs which are substantially related in nature.
I.
Accept grants from state and federal governments for the support
of safe and affordable housing for residents of Harford County.
J.
Promote the well-being and best interest of all citizens of Harford
County, Maryland, with respect to housing opportunities.
K.
Provide information to the citizens of Harford County concerning
their opportunity to participate in the housing programs.
L.
Carry out such other duties as may be provided from time to time
by directive of the County Executive or by legislative act.
A.
The Director of the Office of Community and Economic Development
is authorized to charge fees for the application and approval of industrial
revenue bonds and the refunding of such bonds.
B.
Such fees shall not exceed the maximum annual fee allowed pursuant
to state law for an industrial revenue bond or refunding of such bond.
C.
All fees collected under this section shall be deposited in a separate
account and shall be expended for economic development purposes.
A.
Economic Development Opportunity Loan Fund.
(1)
The Economic Development Opportunity Loan Fund shall be maintained
and administered by Harford County, Maryland in accordance with provisions
of this act.
(2)
The Economic Development Opportunity Loan Fund is a special,
continuing non-lapsing fund which shall be available in perpetuity
for the purposes of providing financial assistance to businesses in
accordance with the provisions of this act.
(3)
Subject to the provisions of any applicable resolution regarding
the application of amounts in the Economic Development Opportunity
Loan Fund, the Treasurer shall separately hold and shall account for
the Economic Development Opportunity Loan Fund. An applicant for a
loan pursuant to this act shall certify its best estimate as to the
effect such loan will have upon the employment and the tax base of
the County.
(4)
The cost of administering the Economic Development Opportunity
Loan Fund shall be paid from grants and awards from amounts received
from borrowers pursuant to loan agreements.
B.
Approval. A resolution adopted by the County Council of Harford County,
Maryland upon written recommendation of the County Executive of Harford
County, Maryland, shall set forth the terms and provisions of such
loan, including security, rate of interest and terms of repayment.
The resolution may provide that the loan made by the County may be
considered to be in parity with loans made by other financial institutions
for the purposes set forth in this act. A resolution of the County
Council of Harford County, Maryland approving a loan to be made pursuant
to this act shall contain a finding concerning the impact of the loan
upon the employment and tax base of the County, and the finding of
the County Council of Harford County, Maryland shall be conclusive
and binding for all purposes.
C.
Waiver. A loan made by the County pursuant to this act shall be evidenced
by a loan agreement. The loan agreement shall contain a provision
whereby the borrower acknowledges and agrees that the borrower's loan
obligation is cancelable only upon repayment in full. The County may,
with the approval of the County Council, consider a "conditional loan
agreement" in an amount not to exceed $125,000 that involves significant
capital expenditure, job creation and continuing presence in Harford
County for the term of the loan. All principal and accrued interest
would be deferred over the term of the loan. In the event that all
of the performance criteria of the loan are met over the term, all
outstanding deferred principal and accrued interest would be forgiven
at the end of the loan term.
D.
Amount/terms. Any loan made by the County pursuant to this act shall
not exceed in the aggregate $200,000 to any one business; provided,
however, that the loan made by the County may be combined with other
loans made by other financial institutions for the same purposes and
may exceed $200,000 in the aggregate as long as the amount advanced
by the County does not exceed $200,000. All documents containing the
terms and provisions of the loan shall be signed by the County Executive
of Harford County, Maryland. All recording costs and out of pocket
expenses concerning the loan shall be paid by the borrower.
E.
Angel fund participation loan. There is a fund created within the
Economic Development Opportunity Loan Fund for the purpose of participating
in angel/venture fund opportunities within Harford County for Harford
County businesses. The amount of the fund shall not exceed $50,000,
and an individual loan shall not exceed $10,000. Harford County shall
participate with the other members of the fund and shall be reimbursed
on an equal basis as the other angel/venture fund participants.
F.
Duties and responsibilities.
(1)
The Director of the Office of Community and Economic Development
of the County or the designee of the Director shall attend all meetings
and represent Harford County, Maryland for the purpose of meeting
with financial institutions which consider the terms and conditions
of loans in the aggregate made to businesses in the County for economic
development purposes.
(2)
A loan by the County in an amount of or less than $50,000 does
not need a resolution by the County Council.
(3)
On January 1 and July 1 of each year, the Director of the Office
of Community and Economic Development shall prepare and submit to
the County Executive and County Council a cumulative financial report
containing the terms, loan amounts, interest rate, outstanding balances
and other financial information on all economic development opportunity
loans.
