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County reviews EDIF performance after decade of awards; about $1.5–2 million remains
Summary
Prince George’s County staff on Feb. 24 gave a retrospective on the Economic Development Incentive Fund (EDIF), which began in 2013 with a $50 million one‑time appropriation. Staff said roughly $48.5 million has been awarded and about $1.5–2 million remains; questions from councilmembers focused on project outcomes, clawbacks and transparency.
Prince George’s County staff presented a look‑back and way‑forward briefing Feb. 24 on the Economic Development Incentive Fund (EDIF), saying the fund — originally created in 2013 with a $50 million one‑time appropriation — has awarded roughly $48.5 million and has about $1.5–2.0 million remaining for new awards.
The presentation summarized the EDIF’s statutory purposes — encouraging locally owned business development, retaining and attracting businesses, creating or retaining jobs for county residents, and broadening the commercial tax base — and described the fund’s typical structure: conditional loans (conditional grants that are forgiven if recipients meet performance conditions) or conventional loans that the county approves or oversees.
Why it matters: Council members pressed staff about whether the fund’s awards matched its…
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