Legislation Details

Reference No. CR-063-2017    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 9/12/2017
Introduced Date 9/12/2017 Public Hearing Date
Effective date: 9/19/2017    
Title: A RESOLUTION CONCERNING PILOT AGREEMENT FOR THE GLENARDEN PHASE I PROJECT for the purpose of approving the terms and conditions of a negotiated Payment in Lieu of Taxes (PILOT) Agreement between Prince George’s County, Maryland (County) and Glenarden Phase I, LLC (Owner) for the Glenarden Phase I Project (Project).
Proposers/Sponsors: County Executive, Derrick Leon Davis, Andrea C. Harrison, Karen R. Toles, Mary A. Lehman, Dannielle M. Glaros, Mel Franklin, Deni L. Taveras
Attachments: 1. R2017063, 2. CR-63-2017 Attachment B, 3. CR-63-2017 AIS.pdf, 4. CR-63-2017 Report, 5. CR-63-2017 Transmittal, 6. CR-63-2017 Fiscal Impact, 7. Workforce Housing PILOTs - 2011 to Present, 8. Economic Development Tools and Incentives - PSFM Committee - September 14th - 2017
Contact: LaKeecia Allen, Office of Law

Title

A RESOLUTION CONCERNING PILOT AGREEMENT FOR THE GLENARDEN PHASE I PROJECT for the purpose of approving the terms and conditions of a negotiated Payment in Lieu of Taxes (PILOT) Agreement between Prince George’s County, Maryland (County) and Glenarden Phase I, LLC (Owner) for the Glenarden Phase I Project (Project).

 

Background

This Resolution will approve the terms and conditions of a negotiated Payment in Lieu of Taxes (PILOT) Agreement between Prince George's County, Maryland (County) and Glenarden Phase I, LLC.  This Agreement will facilitate the development and construction of Phase 1 of the Glenarden Project, which will develop a one hundred fourteen (114) mixed income multifamily rental housing complex.  Twenty seven (27) units will be market rate and eighty seven (87) will be affordable units which will target renters at thirty (30) to sixty (60) percent of the Area Median Income (AMI). Forty six (46) of the affordable units will be senior units housed in a single elevator building which will also receive a subsidy in the form of project-based vouchers enabling eighteen (18) of these units to be rented to households with incomes as low as thirty percent (30%) of AMI. The remaining forty one (41) affordable units will be affordable for families. This property is located within Council District 5 at 8405 Hamlin Street, Glenarden, Maryland.