Reference No. CB-106-2004    Draft No. 1
Type: Council Bill Status: Failed
Meeting Body County Council
Meeting Date 10/5/2004
Introduced Date Public Hearing Date
Effective date:    
Title: An Act concerning the Issuance and Sale of Special Obligation Bonds in aggregate principal amount not to exceed $14,000,000 for the financing the construction of the parking improvements and infrastructure improvements relating to Northgate College Park Development District
Proposers/Sponsors: Thomas R. Hendershot
Code sections: None - None
Attachments: 1. ACTION SUMMARY S2004106, 2. B2004106.pdf
Contact: Jennifer L. Everly Esquire Knight, Manzi, Nussbaum & LaPlaca, P.A.
Title An Act concerning the Issuance and Sale of Special Obligation Bonds in aggregate principal amount not to exceed $14,000,000 for the financing the construction of the parking improvements and infrastructure improvements relating to Northgate College Park Development District Background The proposed bill authorizes the County to issue special obligation bonds backed by the additional property tax revenue from the Northgate condominium office and residential project in the City of College Park. This additional income source is generally referred to as “tax increment financing.” The bond authorized ($14 million) will be used to construct the parking facility required by the condominium project. There are two resolutions accompanying this bill.



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