Exciting enhancements are coming soon to eCode360! Learn more 🡪
Town of Ridgely, MD
Caroline County
By using eCode360 you agree to be legally bound by the Terms of Use. If you do not agree to the Terms of Use, please do not use eCode360.
Table of Contents
Table of Contents
Code
New Laws (1) Index
[HISTORY: Adopted by the Commissioners of the Town of Ridgely as indicated in article histories. Amendments noted where applicable.]
[Adopted 12-19-2005 by Ord. No. 284]
The Ridgely Economic Development Commission is hereby established to assist the Ridgely Town Manager and work with the Caroline Economic Development Corporation in the promotion of business establishment and job creation within the Town of Ridgely.
The Ridgely Economic Development Commission will be composed of five individuals, of which three must be Town residents, who, based upon their interest and business acumen, are to be appointed by the Commissioners of Ridgely to five-year terms, except that the initial members to be appointed as such:
A. 
One individual to a one-year term.
B. 
One individual to a two-year term.
C. 
One individual to a three-year term.
D. 
One individual to a four-year term.
E. 
One individual to a five-year term.
The members of the Ridgely Economic Development Commission will, within one year of their appointment and establishment, provide to the Commissioners of Ridgely an economic development plan that will provide a guideline for the managing and promotion of economic growth in the Town to include the recommendations for business growth initiatives and an inventory of buildings and property that can be marketed for business opportunities.
The Ridgely Economic Development Commission is authorized and encouraged to work with the Caroline Economic Development Corporation on economic development initiatives and matters of mutual concern and interest.
[Adopted 9-8-2008 by Ord. No. 314]
There is hereby established a local Ridgely Economic Development Commission Revolving Loan Fund to be invested at PNC Bank in Ridgely, Maryland, in the initial amount of $25,000. Funds in that amount are to be transferred from the Town's general fund account and are to be placed in a money market, interest-bearing account, separate from all other municipal funds.
The Commissioners will entertain applications for loans by applicants whose business plans are designed to accomplish one or more of the following goals:
A. 
The relief of unemployment in the Town;
B. 
The encouragement of the increase of industry and commerce and a balanced economy in the Town;
C. 
The providing of assistance in retaining existing industry and commerce and in attracting new industry and commerce in the Town;
D. 
The promotion of economic development;
E. 
The protection of natural resources and the encouragement of resource recovery; and
F. 
Generally, the promotion of the health, welfare and safety of the residents of Ridgely.
Applications for loans from the Ridgely Economic Development Commission Local Revolving Loan Fund shall be considered in accordance with the goals set forth above and with the guidelines set forth in § 12-8 hereof for the making of such loans.
A certain document entitled "Town of Ridgely Local Revolving Loan Program Guidelines, Regulations and Rules," attached hereto, is hereby adopted as the guidelines for the making of the loans.[1]
[1]
Editor's Note: Said document is on file in the Town offices.
In the process of gathering information about a qualifying business, the Commissioners of Ridgely may receive information about a business or individual that is confidential and if released could cause harm to the business or give unfair advantage to its competitors. To protect the businesses applying for funds and to encourage them to make full and frank disclosures of business and personal information relevant to their application, the project administrator may take the following steps to ensure the confidentiality of the information it receives:
A. 
A restriction on the number of people with access to the files, with the program administrator primarily responsible for their safekeeping; and
B. 
A requirement that personnel involved in the program sign statements of confidentiality regarding all personal and private submittals by qualified businesses.
The Town Manager is hereby designated program administrator for all applications and loans made from the Ridgely Economic Development Commission Local Revolving Loan Fund.
The Ridgely Clerk Treasurer is hereby authorized to establish and be responsible for the Ridgely Economic Development Commission Local Revolving Loan Fund, and such fund will be included in the financial reports of the Commissioners of Ridgely.
No loan shall be made without the approval thereof by the Commissioners of Ridgely.
All information provided by applicants in support of an application for a loan shall be considered confidential. The program administrator shall exercise such discretionary power as may be available to him under the Public Information Act to deny disclosure of the contents of the application. Nothing in this Article II shall limit the information which may be reviewed by the Commissioners and available to the public at the public hearing conducted to review the application.