The Prince George's County Council agreed Tuesday to issue a much debated $35 million in county bonds that will be earmarked for minority contracts and improvements at the National Harbor development in Oxon Hill.
The money could be used for public facility improvements including streets, sidewalks and public art at the $2 billion development. Prince George's Community College would also receive $5 million for programs that would train small business owners in obtaining contract opportunities. National Harbor is an ongoing project, and bond money is being issued in increments.
Advocates of the legislation have argued for months that there should be a definitive agreement requiring National Harbor's developer, the Fairfax, Va.-based Peterson Companies, to earmark contracts for local businesses or local minority-owned businesses based in the county. Currently, local businesses and minority business make up 2.6 percent of awarded contracts at National Harbor.
Peterson Companies has been issued more than $200 million in county bonds since 2004.
In the agreement, the County Council created a 5 percent tax for National Harbor hotel rooms that would pay for the bonds. In 2006, the council created a $50 million bond agreement for the Gaylord National Resort and Convention Center at National Harbor to pay for improvements.
Under the agreement, small businesses and minority businesses based in the county would receive no less than 15 percent of contract opportunities, with a goal of 20 to 30 percent.
Peterson Companies would be required to pay $500,000 annually if the bond requirements are not met.
"I'm ecstatic," said Jerry Mathis, president of the Prince George's Business Community Coalition, who testified during the County Council meeting. "It's a very good first step toward including Prince Georgians in the economic prosperity in the county."
E-mail Joshua Garner at jgarner@gazette.net.