Title
A RESOLUTION CONCERNING PILOT AGREEMENT for The Carrollton Station Project for the purpose of approving the terms and conditions of a negotiated Payment in Lieu of Taxes (PILOT) Agreement by and between Prince George's County, Maryland (the "County") and BE NC Station Holdings, LLC (the "Developer") for the Carrollton Station Project.
Background
This Resolution will approve the terms and conditions of a negotiated Payment in Lieu of Taxes (PILOT) Agreement between Prince George's County, Maryland and BE NC Station Holdings, LLC for the Carrollton Station Project.
BE NC Station Holdings, LLC proposes to develop a $165 million mixed use project consisting of a 113,000 square foot office building for the Maryland Department of Housing and Community Development, retail space totaling 61,000 square feet, and approximately 556 multi-family units. The development is projected to add 450 full-time permanent jobs upon its completion, including 60 jobs expected to be held by County residents.