VA Region Gets $41.5 Million in Stimulus Bonds

Prince George’s County in Virginia has been awarded $41.5 million in stimulus recovery bond financing for private economic development projects and is looking for private developers and bankers with projects in need of the funds.

Part of the Recovery Zone Facility Bond program, the financing extends tax-exempt status to private development activities, targeting areas with declines in employment. The bonds aim to allow businesses to borrow at lower costs with fewer use restrictions.

The Prince George’s County Economic Development Corp. will hold a pre-application information session for businesses interested in the tax-exempt bonds May 18.