Title
A RESOLUTION CONCERNING PAYMENTS IN LIEU OF TAXES (“PILOT”) AGREEMENT for the Urban Atlantic Development Multifamily-Phase 2 for the purpose of approving the terms and conditions of a Payment in Lieu of Taxes (“PILOT”) Agreement between Prince George’s County, Maryland (the “County”) and New Carrollton Multi-Family II, LLC (the “Developer”).
Background
This Resolution seeks the County Council’s approval for a Payment in Lieu of Taxes (“PILOT”) agreement between Prince George’s County, Maryland and New Carrollton Multi-Family II, LLC (the “Developer”) for the Urban Atlantic Development Multifamily-Phase 2.
The project will result approximately 282,000 square feet multi-family residential building containing approximately 286 dwelling units and approximately 3,900 square feet of work/live units, commercial office space, retail space, or a combination thereof, located near New Carrollton Metro Station.
Note: On 4/27/2021 at the time of Introduction/Referral; an incorrect notation was made on the agenda stating "This Resolution Requires a Public Hearing". Because it was read into the record, a public hearing was scheduled, however, there is no statutory requirement for public hearing on this type of Resolution.