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Thursday, October 14, 2010

PG Council considering $4.5 million financing for Brandywine Crossing shopping center

Council considering $4.5 million financing for Brandywine Crossing shopping center; Developer hoping to open long-anticipated movie theater by 2012
Gazette, 14 Oct 2010 (Tillman).
The developer behind the Brandywine Crossing shopping center may get a $4.5 million boost from Prince George's County for its next phase of construction, which includes a highly anticipated movie theater scheduled to open in 2012.

The Prince George's County Council is considering whether to approve a $4.5 million tax increment financing, or TIF, plan that would reimburse the developer for public infrastructure improvements, such as fixing up or building new roads.
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A public hearing on County Bill 78 is scheduled for Oct. 26.
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Kamita Gray, president of Brandywine/TB, Southern Region Neighborhood Coalition, opposed the council decision in November, calling it a "taxpayer bailout."
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[Full story]

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