Title:
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A RESOLUTION concerning Public Facilities Financing and Implementation Program District at Westphalia Center for the purpose of designating a contiguous area within Prince George’s County, Maryland (the “County”) as a “PFFIP District,” such development district to be located in an unincorporated area of the County known as Westphalia, Maryland and to be known as the “Westphalia PFFIP District;” providing for, and determining, various matters in connection with the establishment of a PFFIP District, creating provisions for financing strategies including, but not limited to, pro-rata contributions, sale leasebacks, funding “clubs,” the Surplus Capacity Reimbursement Procedure provided in Section 24-124 of the County Code, and other methods to ensure equity in the PFFIP District; making certain findings and determinations with respect to the uses of such financing strategies; and generally relating to the Westphalia PFFIP District.
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Title
A RESOLUTION concerning Public Facilities Financing and Implementation Program District at Westphalia Center for the purpose of designating a contiguous area within Prince George’s County, Maryland (the “County”) as a “PFFIP District,” such development district to be located in an unincorporated area of the County known as Westphalia, Maryland and to be known as the “Westphalia PFFIP District;” providing for, and determining, various matters in connection with the establishment of a PFFIP District, creating provisions for financing strategies including, but not limited to, pro-rata contributions, sale leasebacks, funding “clubs,” the Surplus Capacity Reimbursement Procedure provided in Section 24-124 of the County Code, and other methods to ensure equity in the PFFIP District; making certain findings and determinations with respect to the uses of such financing strategies; and generally relating to the Westphalia PFFIP District.
Background
CB-78-2006 provided broad authority for the County to establish Public Facilities Financing and Implementation Programs (“PFFIP”) as a tool to provide for the timely provision of adequate public facilities. This Resolution establishes a PFFIP for the Westphalia Sector, articulates boundaries for the Program District Area and sets forth a financing mechanism for construction of a MD 4 at Westphalia Interchange and associated improvements.
10/26/2010 - CR-66-2010 (DR-2) was technically amended on the floor; CR-66-2010 (DR-3) adopted.