Council approves funding for Metro development

Thursday, Nov. 30, 2006

The County Council unanimously voted to finance up to $160 million in tax increment financing (TIF) for Greenbelt Station development, which will provide funding for building interconnecting roads, a 3,600-space parking garage and additional ramps to the Beltway.

The total cost of the infrastructure is estimated to be $292 million, said Daniel Colton, president of Greenbelt Development, one of the developers.

The proposed project Greenbelt Station includes more than 2,200 residential units and 1.1 million square feet of a retail and entertainment space. There are an additional 1.2 million square feet of office space and 300 hotel rooms.

‘‘The project has two major issues. The scope and location issue and the county-establishing economic and development policies that would spur development,” Colton said.

To promote more minority involvement Colton said that the county and developer are working on policies to make sure minority participation is a major component to the project.

‘‘We’re making sure we have active minority participation, 15 percent of landowners or development of buildings are minority. Our goal is to have 30 percent of minority contractors for the project. The floor is 20 percent.”

The proposed site is located next to the Beltway between Greenbelt Road and Cherrywood Lane.

The development would provide opportunities for the City of Greenbelt, said Celia Craze, the city’s director of Planning and Development.

Tax increment financing laws are is designed to speed up funding toward improving underdevelopment areas in communities.

‘‘The council supports the concept of smart growth,” Greenbelt City Manager Michael McLaughlin said. ‘‘With the increasing development in the Washington area, it makes sense to develop around metro stations.”

E-mail Marcus Ngbea atmngbea@gazette.net