Prince George's County Council - Reference No. CR-062-2024

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Details

Reference No.

CR-062-2024 Draft No. 1

Type:

Resolution

Status:

Adopted

Meeting Body

County Council

Meeting Date

11/19/2024

Introduced Date

7/9/2024

Public Hearing Date

Effective date:

11/19/2024

Title:

A RESOLUTION CONCERNING MILL BRANCH CROSSING DEVELOPMENT DISTRICT for the purpose of designating a contiguous area within Prince George’s County, Maryland (the “County”) as a “development district” as that term is used in Sections 12-201 through 12 213, inclusive, of the Economic Development Article of the Annotated Code of Maryland, as amended (the “Tax Increment Financing Act”), such development district to be located in Bowie, Maryland and to be known as the “Mill Branch Crossing Development District”; providing for, and determining, various matters in connection with the establishment of a development district; creating a tax increment fund with respect to the Development District; allocating certain property taxes with respect to the development district to be paid over to the tax increment fund as provided in the Tax Increment Financing Act; making certain findings and determinations with respect to the tax increment fund and the uses of such fund; providing that special obligati...

Proposers/Sponsors:

Ingrid S. Watson, Jolene Ivey, Calvin S. Hawkins, Wanika Fisher

Attachments:

1. CR-062-2024 - signed, 2. R2024062, 3. CR-062-2024 Exhibit A, 4. CR-062-2024 Exhibit B, 5. CR-062-2024 Summary, 6. CR-062-2024 Report, 7. CR-062-2024 PAFI, 8. CR-062-2024 OOL Comments

Related files:

CB-064-2024

Contact:

Leroy D. Maddox Jr., Legislative Attorney

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
11/19/2024	1	County Council	adopted	Pass	Action details	Meeting details	Video
10/7/2024	1	Government Operations and Fiscal Policy Committee	Favorably recommended	Pass	Action details	Meeting details	Video
7/9/2024	1	County Council	introduced and referred		Action details	Meeting details	Video

Title

A RESOLUTION CONCERNING MILL BRANCH CROSSING DEVELOPMENT DISTRICT for the purpose of designating a contiguous area within Prince George’s County, Maryland (the “County”) as a “development district” as that term is used in Sections 12-201 through 12 213, inclusive, of the Economic Development Article of the Annotated Code of Maryland, as amended (the “Tax Increment Financing Act”), such development district to be located in Bowie, Maryland and to be known as the “Mill Branch Crossing Development District”; providing for, and determining, various matters in connection with the establishment of a development district; creating a tax increment fund with respect to the Development District; allocating certain property taxes with respect to the development district to be paid over to the tax increment fund as provided in the Tax Increment Financing Act; making certain findings and determinations with respect to the tax increment fund and the uses of such fund; providing that special obligation bonds may be issued from time to time pursuant to an ordinance or ordinances enacted in accordance with the Tax Increment Financing Act and secured by the tax increment fund; and generally relating to the Development District.

Background

The legislation serves to designate Mill Branch Crossing as a development district and the to create a corresponding tax increment fund according to the laws of the State of Maryland.

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