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Council backs $200,000 county re-loan to Blue Oyster Processing under MEDAAF
Summary
The Council adopted a resolution supporting a $200,000 loan from the Maryland Department of Commerce that the County will re-loan to Blue Oyster Processing LLC under MEDAAF authority; the vote was unanimous.
Dorchester County’s Council on July 16 adopted Resolution 676 to support a $200,000 loan from the Maryland Department of Commerce that the County will re-loan to Blue Oyster Processing LLC under the Maryland Economic Development Assistance Authority and Fund (MEDAAF). The minutes cite the statutory authority as Sections 5-301 through 5-349 of the Economic Development Article.
Council approved the resolution by roll call (5–0). The action authorizes the County to receive a Department loan and re-loan the proceeds to the private company consistent with MEDAAF procedures. No additional loan terms or recipient covenants were recorded in the minutes.
Next steps: County staff will proceed with steps necessary to accept the Department of Commerce loan and finalize the re-loan under MEDAAF conditions; further administrative records will specify loan terms.
