Prince George's County Council - Reference No. CR-077-2018

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Details

Reference No.

CR-077-2018 Draft No. 1

Type:

Resolution

Status:

Adopted

Meeting Body

County Council

Meeting Date

10/16/2018

Introduced Date

10/16/2018

Public Hearing Date

Effective date:

10/16/2018

Title:

A RESOLUTION CONCERNING PILOT AGREEMENT FOR THE COLLEGE PARK SOUTHERN GATEWAY REDEVELOPMENT 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 College Park JV, LLC (Developer) for the College Park Southern Gateway Redevelopment Project.

Proposers/Sponsors:

County Executive, Dannielle M. Glaros, Derrick Leon Davis, Todd M. Turner, Deni L. Taveras, Karen R. Toles

Attachments:

1. R2018077, 2. CR-77-2018 Attachment B, 3. CR-77-2018 Attachment C, 4. CR-77-2018 MBE Plan, 5. CR-77-2018 AIS, 6. CR-77-2018 Report, 7. CR-77-2017 COW PPT

Contact:

Sean Dixon, Deputy County Attorney, Office of Law

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
11/1/2018	1	County Executive	signed		Action details	Meeting details	Not available
10/16/2018	1	County Council	introduced and referred		Action details	Meeting details	Video
10/16/2018	1	Sitting as the Committee of the Whole	Favorably recommended	Pass	Action details	Meeting details	Video
10/16/2018	1	County Council	adopted	Pass	Action details	Meeting details	Video

Title

A RESOLUTION CONCERNING PILOT AGREEMENT FOR THE COLLEGE PARK SOUTHERN GATEWAY REDEVELOPMENT 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 College Park JV, LLC (Developer) for the College Park Southern Gateway Redevelopment Project.

Background

Authorized by Section 7-516 of the Tax-Property Article of the Annotated Code of Maryland. This Resolution that authorizes the County Executive or designee to execute a Payment in Lieu of Taxes (PILOT) Agreement between Prince George’s County and College Park JV, LLC for the Southern Gateway Redevelopment Project. The PILOT will support the redevelopment of the site into a mixed-use project consisting of 70,000 square feet of restaurant/retail space, 393 multi-family units, and structured parking. The City of College Park will be considering the approval of an ordinance allowing for a Revitalization Tax Credit, proportionally under similar terms to the PILOT, as the City’s contribution to the Project. The Resolution will allow an important mixed-use project on Baltimore Avenue in Prince George’s County to proceed. Without the combined County and City support, the project is not financially feasible.

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