17 Oct 2018

Council Meeting Discusses Greenbelt Station and Wi-Fi

by Diane Oberg

At its October 8 regular meeting the Greenbelt City Council scheduled a public hearing for Monday, October 22, to discuss authorizing the city to issue bonds to fulfill their obligation to provide financing for the construction of Greenbelt Station Parkway. Council also discussed several internet-related proposals and set the price for use of the electric car charging station, among other topics.

TIF

Council took the first step in implementing Tax Increment Financing (TIF) to reimburse the developers for construction of Greenbelt Station Parkway, also known as the Connector Road. Council had agreed to provide up to $8.4 million in the annexation agreement executed in 2006. In 2014, council adopted a resolution that created the Greenbelt Station Development District and Greenbelt Station Special Taxing District.

Council introduced an ordinance authorizing and empowering the city to issue up to $8 million in Special Obligation Bonds for public improvements in connection with the proposed district. According to the agenda comments the city expects that the amount borrowed will likely be less than the amount in the ordinance.

For more on this story, see the October 18 News Review.

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