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

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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